CAMBRIDGE, Mass.--(BUSINESS WIRE)--Insurify, the first virtual insurance agent for car insurance, today announced it has become the largest U.S. car insurance marketplace. Insurify has expanded its fully integrated active agent base over 11X from 70 to 815 agents since the company launched at the end of January 2016. The award-winning company also announced a rapid growth of carriers joining the platform, including: Liberty Mutual, The General, Metlife, Mercury, Arrowhead, Esurance and Kemper. Users can now buy from 102 carriers across 48 states which is more than any other car insurance comparison platform in the U.S.
In 2016 alone more than half a million shoppers have used Insurify to compare, customize and buy car insurance online. The rapid adoption has been even more pronounced in markets like Texas, California, Arizona, Florida, Tennessee, New Jersey and Illinois. On average, drivers who have used Insurify.com report savings of $378 per policy.
An MIT spin-out with a strong team from KAYAK and TripAdvisor, Insurify is reinventing the online insurance comparison and shopping experience through technology. With Insurify, drivers have the option to buy insurance online or call a dedicated agent. If the driver wants to speak with an agent, Insurify’s advanced algorithms connect them with a dedicated insurance professional that has the best quality score to serve them and help get the most savings.
“You guys hooked me up [with an agent] in a very short time and saved me close to $400 dollars per year. I will be adding more vehicles and a motorcycle in the next few weeks. Insurify is the bomb!!” says Kenneth T. who got insurance for his Chevy Tahoe in Arkansas.
To provide the best user experience possible, Insurify developed RateRank™, an artificial intelligence algorithm that matches drivers with the best insurance companies and coverage recommendations for their personal needs and risk profile. Drivers can compare insurance companies not only based on price, but also based on quality characteristics, such as discounts, benefits, payment options and policy features, as well as comprehensive user reviews.
“Insurify’s mission is to make car insurance comparison and shopping simple and intelligent,” said Insurify CEO and co-founder Snejina Zacharia. “We believe that drivers should have the tools to easily choose the best carriers and coverage for their needs. and we do that by building the most intelligent virtual insurance agency in the industry.
“We are very excited about the traction we are getting with our customers and the demand from carriers and agencies which want to get on our platform.”
For U.S. the auto insurance market digital influence has already reached 75 percent, with over 25 percent of auto insurance sales coming from online channels. Insurify provides agents benefits to compete in a market increasingly dominated by several big advertisers.
“The Insurify partnership has helped us grow 5 times. Insurify's integration makes our agents 50% more efficient. The full integration helps them spend less time on the phone and focus on making sales. Thanks to Insurify we are able to compete with companies such as GEICO and StateFarm and continue to grow our business.” says Joe Orr, EVP of Insurance, Clearlink.
Insurify is based in Cambridge, MA, and is the first intelligent virtual insurance agent for car insurance shopping that uses predictive modeling and advanced analytics to truly simplify shopping for car insurance. Currently available in 48 states, Insurify has partnered with the largest agencies and carriers in the US to quote 102 carriers in real-time, more than any other online platform for car insurance shopping.