Insurance digital ad spend is growing but slowing

For more insights and key statistics on the biggest trends in today's most disruptive industries, subscribe to our Chart of the Day newsletter.

The US insurance industry will top $12 billion in digital ad spending this year, up 15.0% from 2021. Outlays will continue to increase by double-digit rates over the next couple of years, surpassing $15 billion in 2024.

Beyond the chart: Insurance will make up 4.8% of the $248.81 billion spent on digital advertising in the US this year, and its share is shrinking, down from 5.5% in 2020. Budgets are tightening across the industry, for traditional companies and insurtechs alike, meaning marketers must focus on reaching the right audiences at the right time.