InsWeb, along with its subsidiaries, operates an online insurance marketplace where consumers can get quotes for various insurance products sponsored by insurance companies and they can apply for insurance policies online. There are many insurance companies that participate in InsWeb’s online insurance marketplace offering wide range of insurance products for automobile, homeowners, term life, renters, and condominium insurance. Also for home warranty, recreational vehicle and motorcycle, and insurance for health and critical illness, the company has contractual relationships with third-party providers of these services. InsWeb was co-founded by Hussein A. Enan in 1995. The company has its headquarters at Gold River, California.
InsWeb has emerged, within a short period, as one of the largest producers of personal lines insurance in the U.S. One can get an idea of the volume of our activities from the fact that in 2005, more than a million consumers completed our Auto Insurance Quote Form. Our online insurance marketplace allows the consumers to receive quotes for various types of insurance coverage from more than 30 highly rated insurance companies. Consumers can compare and shop for auto, term life, homeowners and other insurance products from our top rated online marketplace. After viewing the quotes, the consumers will be contacted by one of our carrier partners or a local insurance agent to complete the transaction process offline. Quotes through InsWeb’s carrier partners are completed through our independent agency or in the carriers’ call centers.
InsWeb is a quick and easy link that connects consumers searching for suitable insurance with insurance companies offering such insurance at competitive rates. It also serves as a resource pool for insurance companies where they can find prospective customers.
How Insweb Works
There is a comprehensive set of information provided by the company, in which the forms are required to be filled in, and done in a professional manner, so that a quick response is made. The process in which it is done is quite easy and answers the following questions. It tells us something about yourself, helps to make a review of your quotes, and also helps you to choose a company.
There are many features that are associated with us, some of which have been explained below:
Solid quotes –
You are required to fill in a form that usually matches the profile of the customer. There is a detailed form available with the site that helps you to ensure that you are able to receive all the quotes. When these companies compete among themselves you will be provided with some of the best prices of the industry.
Quality insurance companies –
We provide you excellent quotes that shall help you to pay your claims. We try to provide you with excellent backing facilities, and gives you competitive quote.
Easy access to updated quotes –
We provide you with easy access to many types of quotes, so that when you return again, we are able to populate the form for you. This shall be convenient for you, as you shall get updated quotes within minutes.
Protection of your personal information –
More about Insweb
InsWeb is an online marketing scope that helps the consumers to make shopping on line. This site is able to provide you with a variety of data, insurance products, that includes for the homeowners as well as other automobile users. We have been able to combine our knowledge about the industry, as well as other technological expertise, that helps the development of the site and also enables the consumers to make extensive research on the websites. The online marketplace of the website helps the customers to make research on the different insurance related topics, also helps in the search and analysis of other kinds of insurance related products. The customer is required to make an application for the different quotes of the products.
The principal source of revenue of the company is the transaction fees that are received from the insurance providers that participate or that which act as a local insurance agent. The quotes of the different products can be obtained online, making the marketplace a favorable place for all the insurance providers. The fees are earned from the insurance company, on the basis of a closed policy, or from the delivery of a participating insurance provider or a local agent who is involved in the business. In many circumstances, the consumers are provided with an opportunity, to have a direct link with the third party. Under such situations, the consumer is required to complete the third party online application on line, and thereby a fee is required to be paid on line.
We believe in the establishment of long-term relationships, with the other insurance companies that are available in the market. Our main focus has always been to maintain and expand a marketplace, by selling different products that are available in the online market. On 31st December 2005, we had relationships with more than 34 insurance companies and we hope to continue and expand our business over the years. There has been an evaluation in the business model of the company in the past few years. There was an expansion of the Web Sponsored web link program that provides the customers an opportunity to have a direct link with the web site of the company. We have several methods by which we can shorten the online application, as well as the distribution of the products, with the launch of the third party insurance. It was in the month of September in 2005 that AgentInsider.com was established.
Since my car insurance policy is going to be up soon, I started looking around online to see if I could get a better deal from a different company. I didn't want to renew if I could save money some where else. InsWeb only asked me for a few things before showing me some great quotes. I ended up switching and save $100/month!