Esurance Inc., a national quote-to-claims Internet-based provider of personal auto insurance, announced an agreement with the insurance portal ebix.com Inc. Under the terms of the agreement, Esurance will provide instant online auto insurance quotes to ebix.com consumers in 26 states.
Esurance maintains that it is the first carrier on the insurance portal to provide real time binding of its policies purchased on the site.
According to the companies, the agreement facilitates broader distribution for Esurance while providing additional timesaving conveniences to ebix.com’s customers. The process of instant quotes and real time binding is made possible by a combination of Esurance’s technology and ebix.com’s ability to integrate new products and services into its offering.
Esurance’s Internet-based business model was developed to reduce the overhead of traditional insurance operations while still performing the key functions of an insurance provider, including pricing, underwriting and claims handling. Through its online service (www.esurance.com), Esurance offers consumers advice, quote comparisons, instant coverage, 24×7 policy management and claims handling. Esurance is an operating subsidiary of Folksamerica Holding Company, Inc., a subsidiary of White Mountains Insurance Group.
Founded in 1976, ebix.com Inc. — formerly known as Delphi Information Systems, Inc. — is an international supplier of software and Internet solutions to the property/casualty insurance industry. An independent provider, ebix.com Inc. employs insurance and technology professionals who provide products, support and consultancy to over 3,000 customers on six continents. ebix.com includes a virtual marketplace, ebix.mall, where consumers can define their policy coverages and seek competitive quotes from a number of carriers or agents/brokers in a timeframe defined by the consumer. ebix.com offers consumers access to over 1,000 agents representing nearly 2,000 different carriers, as well as 40 carriers quoting direct. ebix.com also incorporates business tools for agents/brokers, including the workflow and management engine ebix.link. ebix.link is currently being piloted by a number of leading carriers and agents in the U.S.
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