Compete Inc. today announced that Esurance has selected Compete to provide regional competitive intelligence in the online auto insurance industry. Esurance, a direct-to-consumer auto insurance company, has significantly outpaced the market in driving growth in online quotes. While working with Compete, Esurance expects to further grow the conversion rate of consumers visiting its Web site.
Consumers are increasingly turning to the Internet as a critical source of auto insurance information. Online quotes among the top five auto insurance companies grew 7% during the first nine months of 2006 versus the same time period in 2005. Esurance selected Compete for its insurance industry expertise and for the quality and granularity of its online consumer behavior data. Powered by two million consumers, Compete’s database permits unrivaled analysis of online auto insurance applications by competitor, at a state level. For Esurance, Compete will provide services to assess the effectiveness of its offline and online advertising in referring and converting consumers on its Web site.
“Esurance is a data-driven company, and we look forward to leveraging Compete’s robust data to further refine our marketing activities,” said Megan Hanley, vice-president of direct marketing at Esurance. “Compete’s ability to provide detailed information about specific markets will help us better understand and reach our target.”
Compete will provide monthly analysis at both the national and state level, allowing Esurance to respond even more rapidly to market changes. In addition, Compete will study the competitive landscape and benchmark conversion metrics.
“Esurance is looking to Compete to size online auto insurance quotes market wide so that the company can enhance its marketing campaigns in near real-time,” said Stephen DiMarco, vice president of marketing and client services at Compete. “With Compete’s insights, Esurance can make even more precise marketing and advertising decisions.”
Esurance, a subsidiary of White Mountains Insurance Group, Ltd. (NYSE: WTM), provides personal auto insurance direct to consumers online and through select online agents. Through Esurance’s Web site, www.esurance.com, customers can get instant quotes, view comparison quotes, buy an Esurance policy, and print their proof of insurance card– all in minutes. Esurance also offers policyholders the ability to make policy changes and file claims instantly online, demonstrating its commitment to improving the entire insurance process from quote to claim.
About Compete, Inc.
Compete, Inc. is the only online market research firm that creates value for both consumers and marketers. Compete’s research is powered by millions of people who share their online behavior to create a more trusted, transparent, and valuable Internet. Consumers use Compete to stay safe when they surf, save when they buy, and discover the best new websites. Leading companies turn to Compete to understand how these consumers consider, buy and engage with their own and rival brands. Carlson Hotels Worldwide, Esurance, Hyundai Motor America, Upromise, DaimlerChrysler and other innovative companies rely on Compete’s real-time insights to improve the return on their marketing investments.
Compete is headquartered in Boston, Massachusetts, with offices throughout the US. For more information, please visit http://www.competeinc.com.