Insurance advertising spending grew 11% last year as the Australian market entered a “sharper contest for value-conscious consumers”, market research group Nielsen says.

About $504.4 million was spent in the year to March 31, up from $453.7 million the previous year.

Nielsen says Australians are under pressure from rising premiums, with more than three-quarters concerned about the cost of general insurance. Almost 40% are “very concerned”.

The researcher’s commercial lead Rose Lopreiato says more advertising by insurers shows brands are competing harder as consumers reassess value.

“Aussies still want to be protected, but they’re looking more closely at price, value and whether their current provider is meeting their needs,” she said.

“That makes this a critical moment for insurers to stay visible, communicate clearly and give consumers a compelling reason to choose, or stay with, their brand.”