In The Car is Revolutionizing the Auto Insurance Landscape by Introducing Embedded Insurance

Business Wire

STAMFORD, Conn.--(BUSINESS WIRE)--
In The Car, an embedded digital-first insurance enterprise was recently launched, enabling car shoppers to also buy auto insurance, in one transaction, online or in the dealership.

“It’s the fastest, easiest way to buy car insurance,” says Matthew Edmonds, CEO. “Survey after survey has found that customers buying online or at the car dealer, want to complete the transaction in one session. In The Car creates a customized, competitively priced insurance policy in 30 seconds or less.”

Edmonds estimates that a quarter of all automobile insurance policies will be bought through car manufacturers or dealerships within five years.

Buying insurance can often be a cumbersome process, plagued with numerous challenges that leave individuals feeling frustrated and overwhelmed. The traditional insurance purchasing journey typically involves a time-consuming application process, extensive questions, and gathering and submitting various documents.

In The Car offers a better way, by offering embedded insurance in a seamless process with the purchase of the new auto. In The Car uses information already provided for the sale and financing of the car and combines that with other information like prior insurance coverage, driving record, etc. The result is a competitively priced, customized policy from a highly rated insurer in just one click.

During a series of soft launches at dealer websites in the Southwest, nearly half of buyers requested a quote from In The Car, and close to 20 percent purchased policies created just for them. “In addition to getting a good deal, In The Car also enables shoppers to get an idea of their total cost of ownership – including the insurance,” says Edmonds.

While In The Car saves time and is user-friendly, it can also save consumers money. Traditional legacy insurers spend more than $10 billion a year on advertising which they pass along to customers. In The Car does not advertise. By skipping the cost of advertising, In The Car, and their car manufacture and dealer partners, estimate they can save consumers with good driving records and good credit as much as 20 percent.