Allstate Insurance has announced that it has acquired Answer Financial and Esurance, which underlines the continuing changes in the way that consumers shop for their auto insurance.
According to Online Auto Insurance (OAI), it also illustrates a number of opportunities that have arisen from these changes so that insurers.
An increasing number of consumers in the United States have been buying their auto insurance policies directly from the insurers through their websites, as opposed to speaking with an agent. This trend has led some of the larger insurance companies, such as Allstate, to take on new strategies in order to draw more of those customers.
By acquiring Answer Financial, Allstate has obtained a business that assists consumers in their policy decision making by offering quotes and information online from several different insurers. On the other hand, the Esurance acquisition gives Allstate one of a number of rising online auto insurance companies with a specialty in selling directly to shoppers.
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According to federal officials, almost 70 percent of American households have high-speed Internet access, and this growth is expected to continue.
Recent figures have shown that consumers are using the internet at an increasing rate to purchase their insurance, and large companies like Allstate are recognizing the importance of taking their own part of this market. Allstate is already the second largest private auto insurance provider in the United States.
Earlier this year, a survey conducted by comScore showed that 20 percent of its participants purchased their auto coverage online. When compared with the statistics from 2009, this was an increase of 5 percent.