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Walmart Works with AutoInsurance.Com to Bring Customers First-of-its-Kind Comparison Service | Business Wire

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<p>BENTONVILLE, Ark.–(BUSINESS WIRE)–Attention drivers! Online comparison shopping for auto insurance just

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

    apples-to-apples comparison.

  • 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,

http://news.walmart.com/autoinsurance

and http://www.autoinsurance.com.

EDITOR’S NOTE:

  • 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.

About Walmart

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

and http://www.samsclub.com.

About AutoInsurance.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 center in Charlotte, North Carolina.

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