I’ve been doing alot of research lately on the prospects for the “online” insurance sales channel. 

I personally bought my first online insurance policy from esurance.com about 3 years ago.  The rates were OK, but I’ve since changed to a local insurance agent who represents several insurance companies.  I was able to get superior coverage and a cost about 4% less than esurance.  I was really surprised that a regular old company like Auto Owners Insurance would be able to beat the “online insurance giant”

I think the difference was, believe it or not, the Local Insurance Agent. 

I believe the savings that I was able to take advantage of was a direct result of a “real person” doing the hard work of comparing policy options and building me a insurance plan that was taylor fitted to my particiular circumstances. 

All that being said, I still believe that there is tremendous opportunity to sell insurance products online.  The trick is going to be a significant “service differentiators” to make a company stand above the rest of the online space.  The problem with esurance.com was that no one was truly servicing my account…so I had no one looking out for my best interests and annually analyzing my insurance coverage needs. 

Have any of you, my readers and friends, purchased an insurance product online?  Please let me know how it went, and if you plan to continue down that road for your insurance needs in the future.

Thanks in advance for the feedback!  I hope you all had a great Thanksgiving, we sure did here in Michigan!

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