Report shows newer websites attracts auto insurance market shares

Newer websites tend to gain an increasing share of the online cheap car insurance market that is now dominated by GEICO and Progressive. These auto insurance and aggregator sites have surfaced in the internet some time ago wherein they offer cheaper quotes that attract insurers.
In a report released by comScore.com, a Reston, Virginia-based firm that specializes in standardizing online sales during the fourth quarter of 2010, these aggregator sites accounted for about 724.00 submitted quotes which is about 8 percent of quotes submitted online.
According to comScore director Susan Kleinman, the online auto insurance market nowadays has been taken over by some of the insurers, of course with GEICO and Progressive comprising the upper 50 percent of all the quotes submitted online. He added that as more consumers surf into the internet to look for insurance policies, there is also a rise for opportunities that more insurers will break into the online market.
The comScore online auto insurance benchmarker covers metrics like visitation and quoting activity for insurance sites. The expanded set of sites grows across the board over the past years with sites achieving triple-digit gains.
Among all additional sites, USAA.com lead the track with 6.5 million visitors, followed by American Family with 1.3 million visitors and Mercury insurance with 686,000 visitors.
Some of the newer insurance company sites include CSAA.com, DirectGeneral.com, SafeCo.com, Amica.com, ErieInsurance.com, InfinityAuto.com, GMACInsurance.com, UnitrinDirect.com, Auto-Owners.com, CommerceInsurance.com and TitanInsurancec.om.
With the growing number of insurers expanding their reach through the internet, online agencies and lead generators have grown their share of the insurance market mainly because of the newcomers and the acquisition of existing sites by competitors.
The firm comScore’s benchmark auto insurance currently has 13 insurers and 7 aggregator sites which gives data on visitation, online quoting, online purchasing and some additional reports like source of traffic, cross shopping, online servicing and demographics.

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