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Posts Tagged ‘USAA’

Consumers Shopping For Auto Insurance From New Sources

March 11th, 11

Increasingly people seem to be turning to the web for their auto insurance needs. According to a report by Insurance Journal, new auto insurance sites are gaining momentum and taking some of the business from dominating companies like GEICO and Progressive.

A new report from comScore.com found that during the fourth quarter of 2010, these new sites took in 724,000 quotes which is about 8% of all quotes submitted online. “The online auto insurance market has been dominated by only a handful of insurers over the past few years, with GEICO and Progressive comprising over 50 percent of all quotes submitted online,” said comScore director Susan Kleinman to the Insurance Journal. “But as more consumers look to the Internet to shop for insurance policies, there is an opportunity for more insurers to break into the online market.”

Many of these new sites saw triple digit gains in business. One of the most notable was USAA.com which had 6.5 million visitors. The next highest traffic was given to American Family who had 1.3 million visitors and in third was Mercury Insurance who welcomed 686,000 visitors. This report only looked at websites that are new to the market and did not include those who have been around for a while including allstate.com, esurance.com and geico.com.

Individual insurers are not the only ones seeing an increase in business. Insurance aggregators are online lead generators and have also been experiencing growth. The report shows that they received 6.8 million unique visitors to their sites during the last quarter of 2010. This may show that consumers are looking for new ways and sources to buy auto insurance. Perhaps they’re looking for better prices and a better product.

Tags: triple digit gains, director susan kleinman, new report, Consumers, Business, USAA