Technology has become the driving force for many if not all businesses. Airlines all over the world have utilized the accessibility of online technology to make their services easier for prospective travelers. The availability of comparative prices among travel agencies and airlines are made easier. Indeed, using API access along with travel sites, the search for information is that much easier.
The Zebra Is Making Car Insurance Buying Easier
The Zebra, which is also known as the “Kayak.com of Auto Insurance,” has come in as a life preserver for car owners. Started in 2012 in Pittsburgh, Pennsylvania by Adam Lyons who is the CEO, he felt that persons who require information on vehicular insurance have had to seek far and wide for relevant information as well as having to make purchases. They have borrowed from the concept employed to compare airlines from Travelocity, Priceline and Trivago by creating their own insurance comparison platform, The Zebra. This has been the best thing to happen to the car-insurance business in decades: It creates an easy way to pair both insurance agents and drivers who need coverage in what amounts to a $220 billion market. Lyons recruited serial entrepreneur Josh Dziabiak as his COO to build what is becoming a likely game-changer in the insurance industry. Already The Zebra served 3.5 million customers in 2015 with 35% month-over-month growth.
To further fuel its growth, in its latest Series A round of funding The Zebra pulled in $17 million from investors that include billionaire Mark Cuban, bringing its total funding to over $21 million.
The cost savings that come from using a comparison website for all the needed information has made it possible for agents to pass on saving benefits to customers as well. There is no need for a middleman. Commissions are eliminated by insurance agents, and so they are able to create higher-end policies for customers. Because car insurance is mandatory in most states, it is to a consumer’s advantage to use website technology to compare prices in one place, in lieu of using outdated telephone technology. No longer do we need to call in to insurance carriers for quotes.
For the over 250 million drivers that insure their cars it’s possible that The Zebra could be one of the most widespread, industry-disruptive technologies of the current decade. Comparison shopping is done online with just a click of a button, and sealing a deal is only a click away. Many wonder why this was never thought of before when the airlines were capitalizing on this innovative opportunity, but looking back, now is the ideal time for such a concept to be introduced. Instructive, however, is Google’s entry into the car-insurance comparison business last year, and its recent exit. With all this technology floating around and the many innovative ways that are may be used, the concept of combining car insurance, agents and comparison pricing is now possible. The Zebra has connected the dots to make it possible.