OAI: Recent Award Shows Importance of Auto Insurance Companies' Online Presence

December 30, 2011 (PRLEAP.COM) Business News
This week's announcement that Progressive has once again been lauded for its user-friendly website highlights how important it is these days for auto insurers to have an effective online presence, according to Online Auto Insurance (OAI).

Consumers are browsing free online auto insurance quotes and purchasing coverage over the Internet more than ever before, and forward-thinking coverage providers are profiting by catering to consumers who prefer to conduct their insurance business via the Web.

One of the best examples of cashing in on the online trend is provided by Progressive, which was singled out this week by Keynote Competitive Research as having the best website in the industry in terms of customer service and the ease with which it allows users to get quotes and make a purchase.

Federal communications officials say that 7 of 10 households across the country now have access to high-speed Internet service, and experts say that share continues to increase. And according to a survey released in May by marketing research company comScore, 1 in 5 respondents had purchased a vehicle policy online-an increase of 5 percentage points from two years ago-and just over 60 percent had used the services of an agent. That was a 6 percent decrease from 2009.

Regulatory agencies in many states say shopping for coverage online can be an efficient way in which to obtain coverage, but officials say the process will go a lot more smoothly for those consumers who figure out exactly what sort of policy they're looking for before they start to search.

State regulators say online shoppers should gather all their policy, registration and driver's license information before getting started, and they should be prepared to answer questions involving the type of vehicle, who will be driving it and the driving history of each individual to be covered by a policy.

Source: http://www.doi.idaho.gov/ConsumerAlerts/Online_auto.pdf

Focusing on online sales is nothing new to Progressive, which industry experts say has taken advantage of an increasingly wired world to become the fourth-largest private vehicle insurer in the U.S. The share of policies Progressive sold over the Internet has climbed from about 34 percent in 2005 to nearly half as of last June, according to financial data from the company.

To learn more about this and other coverage issues, readers can go to http://www.onlineautoinsurance.com/quotes/free/ where they will find informative resource pages and a helpful rate-comparison generator.