got much easier. To help answer the question, “How do I know I’m getting
a great deal on auto insurance?” Walmart is working with AutoInsurance.com
to bring customers a first-of-its-kind auto insurance comparison service
that helps drivers quickly buy and save significantly on policies.
AutoInsurance.com provides customers with multiple quotes from many of
the leading national insurance carriers, including Progressive,
Esurance, Safeco, The General and others within minutes. The service is
available immediately in Arkansas, Louisiana, Mississippi, Missouri,
Oklahoma, Pennsylvania, Tennessee and Texas, with plans to be offered
nationwide in the coming months.
The launch of this service stems from a successful pilot that took place
in Pennsylvania last year, in which customers who purchased policies
from AutoInsurance.com and reported their savings reduced their annual
insurance costs by $1,168 on average.
“Our business is driven by a commitment to taking products and services
that are complex and pricey and making them easy and affordable,” said
Daniel Eckert, senior vice president of services for Walmart U.S. “Our
customers too often have to settle for auto insurance policies that
aren’t the best fit and cost more than they want to spend. With
AutoInsurance.com, we’re helping our customers save money on one of
their largest household expenses in a new, quick and easy way.”
“Today, nearly 90 percent of people comparison shop online for products
and services like airline tickets. Our survey data shows that only
one in five comparison shop for auto insurance,” said Joshua Kazam,
founder of AutoInsurance.com. “We want to make comparison shopping for
auto insurance much simpler and faster for everyone who wants to save
money on their premiums. We believe strongly in the power of comparing.
It’s how you know you got a great deal on auto insurance.”
One-Stop Shopping for Auto Insurance
Unlike a lead generator, AutoInsurance.com brings quick and easy access
to the auto insurance shopping experience by allowing customers to
compare and buy real policies all in one place. Here’s how it works:
When customers log on to the website, all they've to do is provide
their name, address, date of birth and contact information.
They can then opt-in to have the site retrieve their current auto
insurance policy. This allows AutoInsurance.com to automatically fill
in most of the necessary coverage information and provide a direct
In just minutes, the customer is provided multiple quotes from leading
carriers. They can customize their coverage, including deductibles,
and see those choices immediately reflected in the quotes.
They can choose to either purchase the policy online immediately,
speak with a licensed agent at 800-700-7500. Save their information
and make the purchase later. There is absolutely no cost or commitment
to use the service.
Customers will only be contacted in the future by AutoInsurance.com or
the carrier of the policy they purchase.
“Providing our customers with access to a broad assortment – from
groceries to tires – at low prices and in one location is what we’re
known for. We’re bringing the same one-stop shopping mentality to the
insurance industry with AutoInsurance.com,” added Eckert.
How it Started
AutoInsurance.com, which is operated by a licensed property and casualty
insurance agency, was created after Walmart had the idea that there
needed to be a better way for customers to compare, buy and save on auto
insurance. As the exclusive retailer and marketing partner of
AutoInsurance.com, Walmart customers will be able to access the service
directly from its website at www.walmart.com/autoinsurance.
Existing Barriers and Savings Opportunities for Younger Consumers
According to a national survey commissioned for AutoInsurance.com, which
polled over 5,000 drivers, nearly half of respondents felt that they
overpay for insurance – including health and auto – more than any other
recurring monthly expense.
The same survey also uncovered that auto insurance premiums take a
particularly big toll on the finances of millennials who use the
internet effortlessly and account for a large portion of online shoppers.
One in five millennials – compared to only one in eight baby boomers –
spends 10 percent or more of their monthly income on auto insurance.
Millennials especially face hurdles to shopping for a new policy. The
survey found that 42 percent of millennials say they lack confidence
in making their auto insurance purchasing decision compared to 81
percent of baby boomers who do feel confident.
And when it comes to the time it takes to shop around, more than half of
respondents don’t feel the savings would justify the effort.
“Every consumer deserves the opportunity to be able to save money on
their auto insurance,” said Kazam. “What we’re doing is bringing
transparency and simplicity to the shopping process and experience.”
For more information about AutoInsurance.com, please visit http://blog.walmart.com,
The $1,168 savings is an average based on customers in Pennsylvania
who purchased policies from AutoInsurance.com and reported their
savings during the time period from April 2013 to March 2014.
The survey was conducted by a national research firm for
AutoInsurance.com in February 2014. The sample consisted of 5,228 male
and female consumers over the age of 18 who own or lease a vehicle.
The Walmart and AutoInsurance.com pilot program took place in the
Commonwealth of Pennsylvania from April 2013 to March 2014.
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save
money and live better – anytime and anywhere – in retail stores, online
and through their mobile devices. Each week, more than 245 million
customers and members visit our 10,955 stores under 69 banners in 27
countries and ecommerce websites in 10 countries. With fiscal year 2013
sales of approximately $466 billion, Walmart employs more than 2 million
associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting http://corporate.walmart.com,
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
Online merchandise sales are available at http://www.walmart.com
AutoInsurance.com is a first-of-its-kind service that helps customers
compare, buy and save on auto insurance policies from multiple national
insurance carriers online or by phone. Tranzutary Insurance Solutions
LLC, which does business as AutoInsurance.com currently in 40 states, is
a licensed property and casualty insurance agency. The company is based
in Fort Lee, New Jersey with licensed agents in all 50 states operating
out of a call centre in Charlotte, North Carolina.