Insurance Industry Online Advertising Expenditures in the U.S. Reach $387 Million in 2008

Wilmington, DE, April 03, 2009 --(PR.com)-- New research by Canal Partner LLC indicates that personal lines P/C insurers spent approximately $387 million on online advertising in 2008 - up nearly 25% over 2007. "Insurance carriers recognize that more consumers begin the insurance shopping process online and continue to allocate more of their advertising budgets to the web. The growth we saw in 2008 was extraordinary. However, carriers have some catching up to do, as the insurance industry spends less online as a percent of total advertising compared to other financial institutions," said Jaimie Pickles, President of Canal Partner.

In the research findings, spending was broken down into three primary categories: paid search, display, and online leads. While currently small, the online video advertising and social media marketing categories are gaining significant traction.

The research was conducted by Jaimie Pickles and Candace Thornton, and their findings have been published in a two-part article. Part one of the article can be found in the April 2009 edition of Best's Review and in PDF form on Canal Partner's website.

About Canal Partner LLC

Canal Partner LLC works closely with insurance companies that seek access to leading edge online marketing solutions: search, online leads, online video and social media marketing.

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