New Tool Brings Transparency to Consumers With Potential To Change Auto Insurance Market Forever
This move will address the mispricing issue of Americans’ auto insurance policies and will soon arm its more than 80 million members with the information needed to make the best decision on their insurance policy, without the headache. Credit Karma estimates that Americans overspend on auto insurance by nearly
Credit Karma’s existing auto offering pulls driver and vehicle information from the DMV and other sources directly into the auto product. This helps members save money on their auto loans, track the estimated value of their car and check recall details all in one centralized location. Since launching less than a year ago, more than 8 million members have synced their vehicles. Now Credit Karma can combine the DMV information with data from credit bureaus and public insurance rate filings to unlock much of what is needed to estimate insurance quotes. This happens with just the tap of a button instead of members manually inputting 30-40 data fields as is typical with digital quoting.
“We built the auto experience to help put money back into the pockets of our members. With our refinance experience, we’ve helped our members save nearly
Credit Karma will educate its members through an interactive experience that shows how key factors such as moving violations and credit scores can impact insurance rates. The product is now available in two of the largest driving states in the
“Our investment into auto has exceeded our expectations, and it’s encouraging to see such high engagement among our members,” said
Founded in 2007 by