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Market Overview of Global Price Comparison Websites for P&C Auto Insurance market:
According to our latest research, the global Price Comparison Websites for P&C Auto Insurance market looks promising in the next 5 years. As of 2022, the global Price Comparison Websites for P&C Auto Insurance market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
The price comparison website for P&C auto insurance is a platform where users can use filters to compare products based on features, reviews, prices and prices. Price comparison websites for P&C auto insurance is an online platform in which all data related to P&C auto insurance are merged together, so users do not need to compare products on various websites.
COVID-19 has a more lasting impact on channels
Although the current impact of COVID-19 on the price comparison website for P&C auto insurance reflects the economic climate, it may have a more lasting impact on this channel. Given that the price comparison website for P&C auto insurance relies heavily on repeat customers to develop their business, the long-term decline in sales of different product lines may ultimately affect its market share of insurance products. Therefore, direct selling and other ways to purchase insurance may increase its share at the expense of price comparison website for P&C auto insurance channels.
Impacts from the long-term
When the COVID-19 pandemic ends, the remote work model and the risks established by remote employees will not end. However, after the outbreak of COVID-19, the government introduced a series of policies and programs to help the economy recover, and plans to make key investments and support in their respective fields. COVID-19 will have a positive impact on the price comparison website for P&C auto insurance. The price comparison website for P&C auto insurance has an immeasurable long-term impact. The price comparison website for P&C auto insurance should take measures to overcome this prevalence and survive. In the long run, companies that take active measures to respond to the crisis will become bigger in the future.
Convenience of price comparison website for P&C auto insurance
Finding the best price can be a time-consuming task, including tasks such as calling customer support through inquiries and trying to find the right information to compare products. The price comparison website for P&C auto insurance can collect all the data in one place, so consumers can easily compare products before buying. In addition, the price comparison website for P&C auto insurance provides customers with multiple choices when purchasing products. This is the main factor that is expected to drive the price comparison website for P&C auto insurance in the United States.
Price comparison website for P&C auto insurance development barriers
The price comparison website for P&C auto insurance is an information intermediary service. If it takes the role of the traditional P&C auto insurance industry chain, it can be placed in the category of insurance brokers, that is, representing the interests of the insured and helping the insured choose the best insurance products and solutions. Combining this kind of positioning and attribution, the price comparison website must first obtain the recognition and trust of customers to achieve development, so that customers are willing to choose this purchase channel. Secondly, we must have a comprehensive and in-depth understanding of the terms and rates of insurance products, so as to accurately help customers choose insurance products. Once again, we must have a strong ability to negotiate and play games with insurance companies, so as to help customers strive for more favorable rates and underwriting conditions. Only when these conditions are met can the price comparison website for P&C auto insurance market develop rapidly.
Seek cooperation with small and medium insurance companies and adopt a development strategy of gradual penetration
Although the high concentration of the P&C auto insurance market limits the cooperation between price comparison website and large insurance companies, it creates opportunities for price comparison website cooperation with small companies. Therefore, small and medium insurance companies are more willing to lower prices in exchange for market size. At the same time, for the sake of increasing popularity and market share, it may be willing to cooperate with the price comparison website. The price comparison website should make full use of this advantage and give priority to cooperation with small and medium P&C auto insurance companies, especially in key breakthroughs in some areas where these companies have a relatively high market share. In this way, one can improve the accuracy of price comparison and realize one-stop purchase through system docking; the second is to broaden revenue channels through the sale of insurance products; and the third is to put pressure on large P&C auto insurance companies to achieve market growth. These development strategies have brought many development opportunities to the price comparison website for P&C auto insurance market.
Company Overview:
EverQuote is one of the major players operating in the Price Comparison Websites for P&C Auto Insurance market, holding a share of 28.66% in 2023.
EverQuote
EverQuote, Inc. operates as an online insurance marketplace connecting consumers with insurance providers. The firm's data and technology platform match and connect consumers seeking to purchase insurance with relevant options from its broad direct network of insurance providers.
QuoteWizard
Quote Wizard is a company which helps consumers connect with insurance companies to save on auto, home, life, and health insurance. It provides insurance comparison shopping and research tool that enables consumers to compare agent and carrier quotes locally and nationally to get the best, most affordable coverage.
Segmentation Overview:
Among different product types, Used Vehicles segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Personal segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Price Comparison Websites for P&C Auto Insurance market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Price Comparison Websites for P&C Auto Insurance Market Report:
Market Size Estimates: Price Comparison Websites for P&C Auto Insurance market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Price Comparison Websites for P&C Auto Insurance market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Price Comparison Websites for P&C Auto Insurance market
Segment Market Analysis: Price Comparison Websites for P&C Auto Insurance market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Price Comparison Websites for P&C Auto Insurance market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Price Comparison Websites for P&C Auto Insurance Market: Revenue and sales volume of major countries in each region
Price Comparison Websites for P&C Auto Insurance Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Price Comparison Websites for P&C Auto Insurance market in major regions.
Price Comparison Websites for P&C Auto Insurance Industry Value Chain: Price Comparison Websites for P&C Auto Insurance market raw materials & suppliers, manufacturing process, distributors, downstream customers
Price Comparison Websites for P&C Auto Insurance Industry News, Policies & Regulations
Key players in the global Price Comparison Websites for P&C Auto Insurance market are covered in Chapter 12:
Jerry
Insurify
QuoteWizard
Compare.com
EverQuote
Gabi
SmartFinancial
Nerdwallet
The Zebra
Coverhound
PolicyGenius
ValuePenguin
In Chapter 2 and Chapter 15.1, based on types, the Price Comparison Websites for P&C Auto Insurance market from 2018 to 2028 is primarily split into:
New Vehicles
Used Vehicles
In Chapter 3 and Chapter 15.2, based on applications, the Price Comparison Websites for P&C Auto Insurance market from 2018 to 2028 covers:
Personal
Commercial
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Price Comparison Websites for P&C Auto Insurance market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028