Adam Pichon, senior vice president at LexisNexis Risk Solutions, observed, "This quarter's Demand Meter reminds us that the industry is still reconciling with significant trends that have shifted the auto insurance market significantly. Ongoing rate increases and changing demographics continue to contribute to nearrecord shopping volumes, while claims severity continues to drive profitability challenges for insurers. The combination of these trends has created a challenging environment that has been the theme for insurers in 2023." macro micro small big