US Insurance Digital Ad Spending

How Insurers Can Get the Most for Their Digital Ad Dollars

Executive Summary

Insurers’ digital ad spending grew faster than digital ad spending in the financial services industry as a whole between 2017 and 2020. But growth slowed considerably in 2021—although it remains in the double digits—and will settle slightly below the sector average for the remainder of our forecast period.

Key Question: How will insurers shape their digital ad spending strategies as market dynamics shift?

KEY STAT: US insurance digital ad spending growth will decelerate in 2022 and 2023, in line with the rest of the financial services industry. But insurance will maintain its title as the industry’s largest ad spender, comprising 45.0% of total financial services spending in 2023.

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Table of Contents

  1. Executive Summary
  2. Slower Digital Ad Spending Growth Amplifies Insurers’ Channel Choices
  3. Rapid Ad Spending Growth Slows to More Moderate Levels
  1. Insurers Will Look for Ways to Maximize Digital Ad Dollars
  2. Read Next
  3. Sources
  1. Media Gallery

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Eleni Digalaki


Caitlin Cahalan
Researcher, Financial Services
Maria Elm
Senior Analyst
Oscar Orozco
Director, Forecasting
Paul Verna
Principal Analyst

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