LexisNexis® Risk Solutions today released its 2022 U.S. Auto Insurance Trends Report, which aggregates annual market data about driving behaviors, auto insurance shopping, underwriting and claims to help insurers better navigate a myriad of evolving trends impacting the U.S. auto insurance industry.

This year's report analyzes 2021 data, detailing how the industry continues to navigate the aftermath of pandemic-induced supply shortages, inflation, and new driving behaviors, and provides insights for insurance carriers to help improve their workflows with an eye on streamlining consumer experience. One of the big questions within the U.S. auto insurance industry heading into 2021 was whether it would see a rebound to more normal driving and shopping patterns, or if the industry is undergoing a revolution in the wake of the pandemic that would compel insurers to think about the policy lifecycle differently.

"The jury is still very much out on the long-term effects of these market trends impacting the auto insurance industry," said Adam Pichon vice president and general manager of Auto and Home Insurance at LexisNexis Risk Solutions. "While we have seen some traditional patterns reemerge with respect to miles driven and insurance shopping volumes, we saw another rollercoaster year due to volatile activity in claims severity, insurance switching, more serious traffic violations, and vehicle purchasing due to macroeconomic conditions. Add to that increasing consumer interest in telematics data and an active regulatory and legislative environment, and we are seeing more signs of a revolution in the industry than a rebound. Insurers who arm themselves with accurate and comprehensive data are poised to price and rate more accurately, handle claims more efficiently, and improve customer experience in the face of evolving market stressors."