Despite the growing economic crisis in Italy, the nation’s auto insurance industry is showing promising signs of expansion. The industry is beginning to attract the attention of foreign insurers, consumers, and independent agents due largely to its strong presence on the Internet. Insurance sold through banks in Italy is also on the rise, imbuing the industry with tentative hope for future growth and solvency. According to the Institute for the Supervision of Insurance (ISVAP), one of Italy’s regulatory authorities, online sales of auto insurance rose by 7% in the first…
Read MoreTag: online insurance
Allstate acquires Esurance and Answer Financial for $1 billion
In another of Allstate Corp’s efforts to become a larger part of the online insurance marketplace for consumers who prefer to use the internet for their insurance transactions, the company has acquired Answer Financial and Esurance from White Mountains Insurance Group Ltd. for $1 billion. Allstate, a leading national home and auto insurance company based in Northbrook, has stated that it will be maintaining the Esurance headquarters in San Francisco, and that Answer Financial will remain in Los Angeles. As a result of this deal for the online auto insurance…
Read MoreFlorida insurance agency launched new interactive digital marketplace to help serve consumers
Strong Tower Insurance, an insurance agency based in Florida, has launched a new interactive marketing campaign in an attempt to broaden insurance coverage throughout the state. The agency has built a new website that will help consumers connect with the company and find policies that suit their needs. The website will serve as a virtual marketplace akin to the ones that will be set up in each state by health insurance exchanges. Instead of encompassing the whole of the state’s insurance companies, however, the policies found through the website will…
Read MoreAmerican Modern Insurance Group launches new online documentation system
In a move to align itself with new federal health care regulations, the American Modern Insurance Group, a specialty insurance firm focused on health care, has adopted an electronic documentation system. Dubbed “Online Services,” the initiative aims to provide policyholders with easy access to important documents and billing notices online. This is a practice that all insurance companies throughout the nation will have to adopt by 2014, as required by federal regulations. The Online Services program is a fully optional offering from the company, but one the company is keen…
Read MoreTech companies fight for their share of the emerging insurance exchange market
As the U.S. government continues to push insurance exchanges, a growing number of tech companies are beginning to compete for their share of the infrastructure that will make up the new insurance programs. Exchanges are to be constructed as electronic marketplaces where consumers can find a trove of affordable health care policies. Doctors will be able to use the system as an electronic storage for medical records, allowing other health care professionals, and insurance companies with appropriate authorization, access to a patient’s medical history. Technology firms are now vying for…
Read More
