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It's the Internet and It's Here to Help

While some people have argued that the Internet is going to replace insurance agents, it appears that right now, for most carriers, the Web is ...

By Robert Regis Hyle | Updated on May 31, 2001

While some people have argued that the Internet is going to replace insurance agents, it appears that right now, for most carriers, the Web is being used as an easier way for customers to find an agent. In its report-The Internet and Property-Casualty Insurance: Lost in Cyberspace-Conning & Co. looked at developing direct online sales capabilities and found that the most popular task being offered on the Web is locating an agent.

Conning looked at three aspects of the P&C world: personal auto, homeowners, and commercial lines. It examined the Web sites of the top 20 personal-and commercial-lines insurers based on net written premium for 1999. Not surprisingly, more online work is being done in personal auto than the other two catagories. Twenty percent of auto carriers offer online sales with the more complicated homeowners policies available from just five percent of the insurers surveyed. Surprisingly, online commercial sales are available in 15 percent of the insurance Web sites, although these are usually smaller policies.

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