New Digital Platform, InTheCar, Enables Consumers to Buy a Car and Insurance in Just One Sitting
Published: June 14, 2023
June 14, 2023 09:00 AM Eastern Daylight Time
InTheCar, an embedded digital-first platform that enables online car shoppers to also buy auto insurance in the same sitting, was launched today.
"It's the fastest, easiest way to buy car insurance. Survey after survey has found that customers, be they online or at the car dealer, want to complete the transaction in one session. InTheCar creates a customized, competitively priced insurance policy in 30 seconds or less."
— Matthew Edmonds, CEO
Edmonds estimates that a quarter of all car policies will be bought through car manufacturers or dealerships within five years.
Traditionally, there have been two ways to buy car insurance. One was to contact your insurance agent, tell him or her the make and model of the car you're interested in and let them take care of the rest. That takes time. More recently, people have been going on line to shop for auto insurance. But comparing prices and coverages between different companies is cumbersome.
InTheCar offers a third way. Embedded onto your car purchasing website, InTheCar uses information already provided for the sale and financing of your new car, which is then combined with other information like your prior insurance coverage, your safe driving record, etc. The result is a competitively priced, customized policy from a highly rated insurer.
During a series of soft launches at dealers in the Southwest, nearly half of car buyers shopping on dealer websites requested a quote from InTheCar and 14 percent purchased policies created for them by InTheCar. "In addition to actually buying and binding a policy, InTheCar also enables shoppers to get an idea of what the total cost of ownership – including the insurance – would be," says Edmonds.
Saving Time and Money
In addition to saving time, InTheCar can also save consumers money. Traditional legacy insurers spend more than $10 billion a year on advertising which they pass along to customers. InTheCar does not advertise. By skipping the cost of advertising, InTheCar, and their car dealer partners, estimate they can save consumers with good driving records and good credit as much as 15 percent.
Auto policies written by InTheCar are all backed and licensed by well-known, highly-rated insurers.
For more information about InTheCar, go to inthecar.com