The Cambridge-based start-up launched in January of 2016
The online virtual auto insurance insurance, Insurify, has become the largest U.S. car insurance marketplace. According to the company, since its official launch nine months ago, it has grown its fully integrated active agent base an impressive 11x from 70 to 815 agents. The platform allows consumers the option to either buy insurance online or to call a dedicated agent.
Those wishing to speak to an agent are matched via Insurify’s advanced algorithms which are able to connect drivers with the insurance professional which has the best “quality score” to serve that particular customer.
“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.
The company says that it has already attracted more than half a million shoppers to its site which allows consumers to compare, customize and buy auto insurance online. So far, Insurify says the strongest response to its platform have been in the states of Texas, California, Arizona, Florida, Tennessee, New Jersey and Illinois. According to the company, on average, customers using Insurify.com have been able to save roughly $378 per policy.
“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” – Snejina Zacharia
“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.
Already an award-winning platform
From the beginning, the company has placed an equal emphasis on the design and functionality of its platform as well as the technology powering it from behind and is the first website to use both predictive modeling and advanced analytics for the online auto insurance shopping experience.
In addition, with a team from both KAYAK and TripAdvisor, Insurify has already developed proprietary tools such as EVIA, the virtual agent and RateRank™, “…an artificial intelligence algorithm that matches drivers with the best insurance companies and coverage recommendations for their personal needs and risk profile.”
As further proof of its dedication to providing a bar-none online experience, the website was awarded The Web Marketing Association’s 2016 Outstanding Website Award in the insurance category this past September. This is the first time that a start-up has won this award in this category. Past winners of the award include the websites of Liberty Mutual, Progressive, and last year’s winner GEICO.
In accepting the award, Insurify’s Director of Product, Tod Kiryazov gave a little insight into the inspiration behind the Insurify customer experience.
“We are very honored to receive this recognition,” said Mr. Kiryazov. “We wanted Insurify to feel like a pleasant conversation with an agent: simple and accessible, without much jargon. We came up with a modern design language to execute on that vision and better connect with Insurify’s target audience, which happens to be anyone who drives a car in the US.”
Quoting 82 carriers in real-time
The company, which is licensed in all 50 states, has 102 carriers signed on to its website with the ability to quote 82 of them in real-time. In its latest announcement, the company says that it also has recently signed up several carriers more including: Liberty Mutual, The General, Metlife, Mercury, Arrowhead, Esurance and Kemper.
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.