Cambridge-based comparison platform cites milestone as evidence of consumer adoption
Online insurance comparison platform Insurify announced it has surpassed 250 million real-time auto insurance quotes served to U.S. consumers; a milestone the Cambridge-based company says reflects the scale of its comparison platform and quote database.
According to the company, its database of real-time auto insurance quotes is more than three times larger than the publicly reported volume of its major competitors, allowing consumers to compare quotes and purchase policies entirely online.
“Reaching this landmark speaks to the trust insurance shoppers place in Insurify,” said Snejina Zacharia, founder and co-CEO of Insurify. “This volume of quotes enables Insurify to provide insurance shoppers with the most accurate quotes possible and provide data-driven consumer insights.”
Company distinguishes its platform from lead-generation sites
Insurify said its platform differs from lead-generation websites by providing real-time insurance quotes rather than collecting consumer information, which is then in turn sold to third parties.
Since launching in 2016, the company said millions of drivers have used its platform to find auto insurance coverage, with users saving up to $1,100 annually on their auto insurance policies during the last year.
The company also said its quote database is used by major media outlets seeking verified auto insurance quote data. The database includes quotes from all 50 states and Washington, D.C., spanning metropolitan and rural markets, multiple coverage levels, and a range of driver profiles.
Platform integrates with more than 120 insurers
Insurify said every quote provided through its platform is generated through integrations with more than 120 partner insurance companies.
Quotes reflect real-time rates, according to the company, and are personalized using a driver’s location, driving record, credit history, where permitted by state law, and other rating factors used by insurers.
Quote database supports consumer insights
The scale of its database enables national, state, and city-level analyses of insurance pricing trends. The company uses that data to publish consumer-focused insights on topics including:
- Insurance costs by vehicle model.
- Changes in auto insurance rates over time.
- The impact of DUIs, accidents, and traffic violations on premiums.
- How factors such as age, gender, and credit history affect insurance rates.
“When drivers come to our platform, they are not just shopping for insurance. They are trying to find more room in their budget for groceries, housing costs, and other necessities,” Zacharia said. “To meet the diverse needs of all U.S. consumers, Insurify partners with national, regional, and niche insurers. We want someone who comes to our platform to find a policy that meets their needs and fits their budget.”
