Experian, a global leader in data and technology, has introduced a new feature to its Insurance Marketplace.
The company, known for empowering consumers through innovative financial solutions, has launched Ongoing Rate Monitoring, designed to help users find better auto insurance rates with ease.
Experian’s latest product aims to address the financial challenges posed by inflation, which has significantly impacted auto insurance costs, increasing them by approximately 20%.
This new feature seeks to provide consumers with an automated way to save on their insurance policies without the hassle of manual comparison shopping.
Experian operates globally, providing data and technology services across a variety of sectors, including financial services, healthcare, insurance, and automotive.
The company supports millions of consumers in achieving their financial goals by helping them save money, manage credit, and protect themselves from identity fraud.
The offering continuously scans the market for better auto insurance rates. Users who sign up for the free service receive personalised, real-time rates from over 40 top insurance providers.
With this feature, members will be alerted whenever a more affordable rate becomes available, potentially saving them over $800 on their current policy. Additionally, Experian offers assistance in cancelling existing policies and switching to new providers seamlessly.
Another key benefit of the service is that it allows users to bundle auto and home insurance policies, maximising savings. The platform also provides various tips and resources on purchasing auto insurance via its Ask Experian blog, helping consumers make informed decisions.
The Insurance Marketplace is available to consumers in all 50 states and Washington DC, ensuring that anyone looking to lower their auto insurance costs can take advantage of this feature. More information can be found at experian.com/insurance.
“We know it’s a hassle to shop for auto insurance, so we delivered a solution to save consumers time and money,” said Rakesh Patel, executive vice president, Experian Insurance Marketplace. “With inflation still impacting consumers’ wallets, a large expense like auto insurance can be financially challenging for many people. Experian does the hard work of monitoring rates finding consumers cost savings not only today but potentially in the future.”
Experian continues to deliver on its promise of “Financial Power to All™” by offering a variety of tools that help consumers establish good credit, access tailored financial products, and save money throughout their financial journey.
Copyright © 2024 InsurTech Analyst
