AutoTrader.com Teams With Esurance to Deliver Auto Insurance to Online Used Car Shoppers
31 July 2000
AutoTrader.com Teams With Esurance to Deliver Auto Insurance to Online Used Car Shoppers
SAN FRANCISCO--July 31, 2000--AutoTrader.com, the leading Internet destination and marketplace in the United States for buyers and sellers of used vehicles, today announced a partnership with Esurance Inc., a quote-to-claims Internet-based provider of personal insurance, to enable online used car buyers to purchase auto insurance instantly online.
"This partnership with Esurance supports our mission to provide the most comprehensive online resource for buying and selling used vehicles," said Chip Perry, president and CEO of AutoTrader.com. "Esurance enables used car shoppers to get the insurance coverage they need, quickly compare rates with other carriers and purchase their policy instantly online. This is another value-added convenience for our customers."
Esurance is a complete quote-to-claims online insurance provider that combines the service of an agent-based insurance company with the competitive rates of a direct provider along with convenient, 24-hour customer service. Esurance enables AutoTrader.com customers to get expert advice, instant quotes and immediate coverage, and also lets them manage their policy online at their convenience. Esurance policyholders can add a driver or a car to a policy, change their level of coverage and print out their policy or proof of insurance card, at any time.
"AutoTrader.com shoppers can now get a complete view of the total cost of ownership by researching auto insurance rates when shopping for a car," said Jean-Bernard Duler, CEO of Esurance. "They can save their quotes online and come back to purchase once they have found the right car. This saves time and prevents users from having to enter the same information more than once."
Esurance currently offers personal auto insurance in 21 states, including Arizona, California, Colorado, Connecticut, Florida, Iowa, Illinois, Indiana, Louisiana, Maryland, Michigan, Missouri, Ohio, Oregon, Minnesota, Pennsylvania, South Carolina, Tennessee, Virginia, Washington and Wisconsin. Esurance is licensed to market policies in 48 states and plans to continue expanding its business to additional states this year.
About AutoTrader.com
AutoTrader.com is the leading Internet destination and marketplace in the United States for buyers and sellers of used cars, light trucks, vans and sport utility vehicles and for consumers seeking information regarding automotive products and services, such as insurance, financing and warranties. AutoTrader.com utilizes the power of the Internet and its ability, through its exclusive strategic alliances, to aggregate in a single location an extensive network of industry participants and a comprehensive database of automotive information to create an open marketplace that is local, regional and national in nature. Currently, AutoTrader.com contains approximately 1.5 million used vehicle listings, and, in June, AutoTrader.com's marketplace attracted 5 million unique monthly visitors who conducted 14 million vehicle searches.
AutoTrader.com, formerly AutoConnect.com, was formed in 1997 as a majority-owned subsidiary of Manheim Auctions, Inc., which has been in business since 1945 and is the world's largest operator of wholesale auto auctions. Manheim Auctions, a wholly owned subsidiary of Cox Enterprises, Inc., a leading media conglomerate, is AutoTrader.com's principal stockholder and one of AutoTrader.com's strategic partners. Other investors in AutoTrader.com include entities with which AutoTrader.com has also formed strategic relationships, such as Trader Publishing Company, ADP, Inc., eBay, Inc. and the venture capital firm, Kleiner Perkins Caufield & Byers.
About Esurance Inc.
Esurance Inc. is redefining the insurance experience by creating an easy and time efficient way to buy and manage personal insurance online. The company's unique Internet-based business model reduces the overhead of traditional insurance operations, while still performing the key functions of an insurance provider, including pricing, underwriting and claims handling. This direct Internet model eliminates agent commissions and paper-based processes, creating cost savings, which are passed on to customers in the form of low rates for top-rated insurance policies. Through its online service (www.esurance.com), Esurance offers consumers expert advice, quote comparisons and instant coverage, as well as convenient, 24x7 policy management and superior claims handling. The company was the first Internet-based provider to offer real-time quote capability and fulfillment service to more than half of the nation's driving population. Founded in 1998, Esurance is backed by leading venture capitalists including Redpoint Ventures, Global Retail Partners, Trinity Ventures and 21st Century Internet Venture Partners.