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More people turning to internet for insurance research

Posted On Fri, June 3, 2011

A new study is showing just how prevalent the world wide web is being used by auto insurance shoppers.

According to J.D. Power and Associates and its annual U.S. Insurance Shopping Study, more people are resorting to the internet than ever before to find an auto insurance quote. The report found that more than half - 54 percent - of new buyers requested their quote online rather than through a call center or agent - the highest rate since the study was first conducted five years ago.

Jeremy Bowler, senior director of J.D. Power and Associates, said that while customers are still resorting to traditional channels for insurance shopping, the internet is becoming the quote-hunting method of choice.

"While nearly one-half of all accepted Web quotes are closed by either an agent or call center representative, customers are clearly more often looking to insurers’ sites or third-party sites in the early stages of the shopping process," said Bowler.

Similar findings were revealed last month by the research company comScore. In 2010, the report found that auto insurance companies delivered 37 million quotes, resulting in 3 million policies purchased.

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