AutoTrader.com, an Internet auto
classifieds destination and marketplace, announced on Aug. 21 a partnership with InsWeb, an online insurance marketplace. Under the agreement, InsWeb's auto insurance shopping service will be featured on AutoTrader.com's Insurance Channel.
Consumers searching for a new or used vehicle on AutoTrader.com will be able to request real time automobile insurance quotes from InsWeb and compare rates from multiple carriers to find the rates that best meet their needs.
InsWeb will provide AutoTrader.com customers with access to insurance quotes from 23 carriers. The service was launched on August 14.
Consumers will be presented with the InsWeb insurance solution throughout AutoTrader.com's Finance and Insurance section, which includes articles and company reviews. InsWeb will also be included in advertising throughout AutoTrader.com and in the Vehicle Detail pages when a consumer selects a vehicle on AutoTrader.com. Once a consumer selects a specific vehicle that they are interested in, they can click on an InsWeb link and be
directed to the application process to receive instant online quotes.
"Consumers are increasingly benefiting from shopping around and comparing prices online before they buy anything," said Chip Perry, president and CEO of AutoTrader.com. "AutoTrader.com provides the largest database of vehicle listings for consumers to compare options and costs to find the vehicle that best meets their needs. Likewise, InsWeb aggregates the most complete
insurance information for its consumers to help them find the best quotes," Perry said. "Since these two services go hand-in-hand, partnering with InsWeb to provide auto insurance information to our customers was the most logical step for AutoTrader.com."
"The automobile insurance market is very competitive, with hundreds of companies offering coverage in any given market," said Jaimie Pickles, senior vice president, client development of InsWeb. "With rates constantly
on the rise, consumers need a no-hassle way to comparison shop and find a rate that suits them or adjust their current coverage. By making our
services available through AutoTrader.com, we can offer shoppers who have found their ideal car a way to find an ideal auto insurance policy with just one more click."
Currently, more than half of auto shoppers are researching vehicles online, according to J. D. Power and Associates, and AutoTrader.com has been ranked the number one source for used-car sales online. AutoTrader.com is also increasingly being used as a resource for new-car consumers, listed among the top 10 sites for new cars by J.D. Power. The site receives more than 5 million unique monthly visitors, conducting more than 25 million vehicle
Similarly, analysts also report that the Internet is increasingly becoming a useful tool for shopping for insurance, particularly automotive. According to Gomez Inc., automobile insurance is one of the best suited for the
Internet because policies are less complicated and because consumers renew their policies every 6 months or annually, making it more likely that they will shop around.
AutoTrader.com is an Internet auto classifieds marketplace and a source for consumers interested in buying or selling a new or used vehicle, or seeking information on price comparisons, safety tips, financing, insurance or warranty information.
Through its strategic alliances with Manheim Auctions, Trader Publishing Company, ADP, Inc.,
America Online and eBay, AutoTrader.com aggregates in a single location a database of 1.5 million vehicle listings from 40,000 dealers
and 250,000 private owners, which, according to AutoTrader.com, provides consumers the largest selection of used vehicles in their local market.
AutoTrader.com was created in 1997 and is a majority-owned subsidiary of Manheim Auctions, Inc., operator of wholesale auto auctions since 1945. Manheim Auctions, a wholly owned subsidiary of media conglomerate Cox Enterprises, Inc., is AutoTrader.com's principal
stockholder and a key investor along with Landmark Communications; ADP, Inc.; eBay, Inc.; and the venture capital firm Kleiner Perkins Caufield & Byers.
For more information, visit www.autotrader.com or call (404) 269-7359.
InsWeb enables consumers to compare multiple, actionable quotes for auto, term life, health, homeowners, renters and condominium insurance offerings from many of the nation's highly rated insurers. The online insurance marketplace also provides live customer service,
interactive tools and independent research.
Headquartered in Sacramento,
Calif., InsWeb is accessible at www.insweb.com and through such sites as MSN, Quicken.com and Yahoo!