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InsWeb Auto Insurance



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Company Overview

InsWeb is a website that contains an innovative online marketplace that allows consumers to shop for the insurance products they need from over 30 insurance carriers and agencies. The process is simple. If you are interested in finding insurance, you start by filling in the customer profile. We will then match you with the insurance companies in our marketplace, and because the form is so detailed, you will be matched to all of the quotes that fit your needs. The insurance companies compete for your business, which means you get the best coverage at the best price.

Once you have filled in the online form, you will be given actionable quotes from the providers in our marketplace that match your needs. You can choose from one of the more than 30 providers we offer. Once you have viewed these quotes and chosen the one for you, you will be contacted either by that insurance provider or one of its independent agents to complete the transaction offline. Sometimes customers will be able to complete their transactions through InsWeb's independent insurance agency.

InsWeb Ratings

2 Reviews | Submit Review|More Reviews
Coverage:
3 out of 5
Cost:
3 out of 5
Customer Service:
3.5 out of 5
Claims:
2.5 out of 5
At InsWeb, you can be confident that we only use the insurance companies with the best reputations and the ability to pay your claims in a timely manner. We have some of the most respected insurance providers in our marketplace. Also, when you save your information to our system, you can return to the site and log in to see instantly updated quotes that fit your needs. You also do not have to worry about your privacy and protection. InsWeb takes your personal information very seriously, and it is never sold, traded, or given to another party. We use the information simply to determine which insurance companies match your needs. See our Privacy Policy to learn more about our security and privacy measures.

Company History

InsWeb Corporation, along with its subsidiaries, operates a website that allows customers to shop on the internet for insurance and have access to updated, company-sponsored quotes for a variety of insurance products. We have auto, term life, renters, condominium, and homeowners insurance providers as a part of our marketplace. We also have contracts with several third-party providers that offer recreational vehicle, motorcycle, health, critical illness, and home warranty coverage.

Our unique website allows customers to shop for the insurance products they need by electronically matching them with the insurance providers. Customers can then research the offerings that these different providers have in order to compare and analyze them and choose the best one. The management of InsWeb feels that information is also an important aspect of shopping for insurance products. We have first-hand knowledge of the insurance industry, and on the InsWeb site customers can research many topics related to insurance to help them make their decisions.

InsWeb was co-founded by Hussein A. Enan in 1995. Since that time, we have matched millions of customers with the best insurance products for them. InsWeb is based out of Gold River, California. In 2005 alone, InsWeb had over 1 million customers fill in the Auto Quote Form. InsWeb has recently changed the business model to make our company one of the leading insurance portals. Our auto insurance marketplace now allows customers many new options to help them find either an insurance carrier or a local insurance agent that will help them the best. This new model came about by changes made to the website during 2004 and 2005. The changes implemented during this timeframe include expanding the InsWeb Sponsored Web Link program, shortening the online application, and distributing customer leads to many different insurance carriers. We have also launched a new program that works through a third-party intermediary to provide qualified leads to local agents. Finally, in September of 2005, we successfully launched InsWeb's proprietary agent network, AgentInsider.com.

We have also began working towards increasing the revenue that InsWeb receives through each customer in our term life marketplace by utilizing our term life agency, which was launched in August of 2004. We have shifted our focus from lead referrals to commission-based revenue. The management believes that this will provide long-term income for the company. These changes have helped InsWeb grow to one of the leading insurance matching services on the internet.

Part of the reason for the success of InsWeb is the company's focus on developing long-term relationships with insurance companies. Our focus is to maintain these relationships and develop more, so that we can offer our customers a wider range of products. As of December 31, 2005, InsWeb had built relationships with 34 major insurance companies for auto, home, and term life insurance products. This number includes many large corporations with well-known brand names that help attract customers.

Facts and Figures

The main source of revenue for InsWeb is transaction fees paid by insurance providers who participate in the program. The management of the company feels that insurance providers are enticed by having the ability to purchase pre-qualified customer leads at an affordable cost. The internet-based model provides a cost-effective distribution of these customers to our partners. The transaction fees may be paid directly by the insurance provider or through the local insurance agent. This enables InsWeb to provide online quotes to customers without any charge. When qualified leads are delivered to an insurance agent or provider, that agent or provider pays for the leads, providing InsWeb with sufficient funding to continue offering the free service to customers.

While the main source of revenue is through delivering these pre-qualified leads to the insurance provider or local agent, InsWeb also earns revenue through its insurance agency subsidiary, InsWeb Insurance Services, Inc. Also, customers are sometimes directed to like to a third party insurance provider's website through the "Sponsored Web Link" program. When a customer clicks through, InsWeb is paid for that click and the customer is given the opportunity to complete the third party's online insurance application.

While InsWeb had 34 insurance companies in its marketplace as of December 31, 2005, the main revenue was generated from only a few of these companies. In fact, the top three insurance companies that choose to participate in InsWeb's online marketplace have made up 27%, 39%, and 38% of the total company revenue for 2005, 2004, and 2003 respectively. This revenue is what enables the online service to be free to customers.

InsWeb is a registered trademark of InsWeb. InsWeb is not affiliated with, nor does it endorse or sponsor, the contents of this webpage or the QuoteCarInsurance.com website. Trademarks referring to specific providers are used by QuoteCarInsurance.com for nominative purposes only: to truthfully identify the source of the products about which information is provided. Such trademarks are solely the property of their respective owners.



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2 Customer Reviews
All that I had to do was contact them over the phone, and they gave me my free quote just like they had promised.
Date: 08/07/2008
Cov: 4 Cost: 3 Serv: 4 Claim: 3
Anonymous
I ended up visiting this website because of a spam letter I got in my email...I wanted to get a free quote, but was unable to because this website sucks. They wanted to contact me over the phone, I declined that offer. This website has false advertising, all I wanted was my free quote.
Date: 08/07/2008
Cov: 2 Cost: 3 Serv: 3 Claim: 2
Anonymous
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