Insurance Playing catch-up Internet
Michael Kaye knew he was paying too much for auto insurance: $ 1400 per year just to cover the liability of his Dodge Dart.
So, if his policy was ready to expire, 24 years, has purchased approximately - on the Web. With a few mouse clicks, it has completely covered, including collisions and complete for only $ 800 a year.
Kaye, a Web site-experienced, has a San Jose Business micro-processors for small devices is still a pioneer. Not many consumers are shopping for insurance online because not many insurers. Unlike the banking and brokerage industry, insurance, slow to embrace the Internet.
Online sales of auto, home owners and duration of life insurance amounted to $ 155 million during the last year - less than 1 percent of all premiums according to Forrester Research.
But the Cambridge, Massachusetts, insurance companies online sales expected to balloon to $ 4.1 billion by the year 2003, as a growing number of insurers overcome the legal and technical obstacles to offer , Offers information and sale on the Internet.
It is precisely now, most insurance sites, you can compare the shop and an application form online. But some still at an agent, you actually sell the policy.
“ We believe insurance is a huge market, because the innate facility to store your product without pressure and execution of transactions in a fraction of time now,’’said Steven Aldrich, President of finance software - Intuit Maker’s insurance.
The company Mountain View site www.insuremarket.com rose in 1996 and now offers term life, auto (but not yet in California) health and other types of insurance from different companies’ insurance.
Some insurers have their own web sites - State Farm (www.statefarm.com) provides for automobile and life insurance. Progressive sells auto insurance to www.progressive.com. But much of the growth in online insurance is from “ centres”de several carriers, for example, InsWeb, Intuit’s InsureMarket, InsureRate (life), Quick Quote (life), the rate Smith and others.
Of course, independent insurance agents have suggested, One-Stop-Shopping for decades. But online shopping malls feel they can do, to say the least.
InsWeb - founded in 1995 in Redwood City on Saddam Hussein Enan, a former insurance executive, and enterprise software Darrell Ticehurt - Mall pioneered the approach. Enan this idea came to me when he saw how easily his son bought a CD on the Internet. Enan observed, he could do the same for insurance. Its Internet site, www.insweb.com, offers for housing, automobile, life and health insurance. InsWeb customers can do everything, but pay for a policy online.
Related Articles
Best recipe for Holiday Mixer is light on alcohol and alcoholic beverages
Politically correct and litigation-free-holiday parties are at the upper edge of this year, the Company wish list. The recipe for a holiday parties is blocked depending on the limitation or elimination of an important - alcohol. Too much alcohol, even if only for an employee, may be the ruin of a
A storm on housing codes
If home windows or shutters require a direct result of a length of eight meters from two to four from a cannon firing 34 mph, without it being made a hole big enough to leave, by one to three inches? That is the central issue in a battle between home
Passe CA Force for assurance clubs Pay-$ 2.5 billion in politics rebates
The California Insurance Department acted today to force the insurance industry to pay $ 2.5 billion discounts to consumers. A spokesman for the industry has indicated that it would certainly take the fight to the courts. In the latest efforts aimed at the introduction of the quota cut provisions in the
On the Governor's Health Care Plan
In his earlier career, Arnold Schwarzenegger has functioned without any doubt about some very bad ideas (anyone remember "Last Action Hero"?), But there is a game for his new health system. Dir Schwarzenegger's Back - breakingly expensive plan gets almost everything wrong, and it is the end of hurt all
Media-Advertising CA fight on motor insurance
The intense political advertising campaign in a year may not enter St. Michael Dukakis and George Bush. However, it is likely that the heated battle in California between Special Interest groups of voters of competing proposals on the revision of government auto insurance industry. The intense political advertising campaign in a
N. Control Panel, J. Advances Contractors Insurance Fix
The Assembly of New Jersey and independent, regulated professions, the Committee unanimously released this week, two bills are supporters say it is a problem of circumvention solution for insurance producers for issuing certificates the assurance that inadvertently was developed by the contractor has recently adopted's Registration Act. The accounts were prepared
California muscles its way through the health reform
Dir Arnold Schwarzenegger Strode salute on the podium, a huge crowd had come earlier in a recent summer Saturday to spend a whole day to discuss all things, health policy. "I prefer that they do go with a red carpet, the film, another first, because that is important," Schwarzenegger said 600
A new formula 103 (proposed a new insurance scheme automobile)
Frustrated in its final stages of extracting 2.5 billion dollars of the USA for 20 million California car, materials and insurance liability insurance, public insurance Commissioner John Garamendi in accordance with the industry and their lawyers, they likening "plotter of the coup d'état Verpfuschte Kremlin" wants to reverse its long-delayed
California's Proposition 103, May shake until insurers everywhere
Is this the beginning of a revolt abuse? An explosion of angry California voters may eventually revolutionize the costs and reports of misconduct by your insurance. When Californians vote on November 8, 1988 for Proposition 103, selling off their auto insurance premiums, their rebellion May formed a new model for the
Bill would extend coverage
Low income motorists with good driving record Riverside and San Bernardino Counties able to buy auto insurance cheap spring, when Dir Schwarzenegger sign a law on his desk. The measure, which the legislature adopted last week, eight countries to broaden the circles a programme of State has proposed that the Low-Cost-auto