Data Drop: 5 Charts on US Insurance Digital Ad Spending

Insurers’ Ad Spend Dominance Will Be Dramatic, but Brief

Report by Maria Elm  | Oct 10, 2024
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About This Report
Insurers will lead the financial services pack on digital ad spend in 2024, buoyed by healthy profits. But a looming climate crisis will make their ad spend bonanza short-lived.
Topics
Financial Services
Insurance
US

Insurers will claim the financial services digital ad spending crown in 2024 after two lean years. Higher profitability—thanks in large part to rate hikes—is giving insurers room to invest in advertising once more.

Insurers should make the most of their available ad budgets now, as the window will soon close: Climate crisis-related unpredictability and losses will force the sector to retrench as soon as next year. Here are five charts that unpack our insurance ad spending outlook.

Insurers lead the financial services pack on digital ad spend

Insurance will be the only sector to increase its share of financial services digital ad spending in 2024, rising from 30.0% last year to 32.2%. The payments and securities sectors will both lose share, while banking will stay flat. Insurance will maintain a comfortable lead over its peers through 2026.

Click here to view our full forecast for US insurance industry digital ad spending.

Here’s what’s in the full report

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Exportable files for easy reading, analysis and sharing.

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Reliable data in simple displays for presentations and quick decision making.

Charts in This Report

US Insurance vs. Total Financial Services vs. Total Digital Ad Spending Growth, 2022-2026 (% change)US Statutory Direct Written Premium Growth, by Property and Casualty Insurance Lines, Q1 2023-Q1 2024 (% change YoY)
US Financial Services Digital Ad Spending Growth, by Subcategory, 2022-2026 (% change)

authors

Maria Elm

Contributors

Vladimir de Leon
Chart Editor
Sakina Thanawala
Matt Torpey
Senior Chart Editor
Julia Woolever