RealTime IT News

InsWeb Becomes Insurance Service for CarPrices.com

InsWeb, an Internet insurance marketplace, signed an agreement to offer its auto insurance shopping services at CarPrices.com, an online car-buying superstore owned by AutoFusion Inc.

The agreement is the latest in a series of deals with car-related sites. Financial arrangements were not disclosed.

Consumers visiting CarPrices.com can obtain free auto insurance quotes from insurance carriers including State Farm, Nationwide, Liberty Mutual, RelianceDirect and AIG. Currently, InsWeb provides auto insurance to consumers from 17 insurance companies nationwide.

"Consumers shopping for a car are now able to better manage the process of shopping for insurance," said Paul Weiskopf, InsWeb's senior vice president of strategic partnerships. "Using InsWeb, these consumers can get the best value for their insurance dollar by having easy access to the widest range of carriers offered on the Internet."

InsWeb has a network of more than 20 car buying sites, which include MSN Carpoint, Intellichoice, Kelly Blue Book and Consumer Car Club of America.

AutoFusion is a San Diego-based Internet/automotive infomediary specializing in the development of consumer- oriented virtual markets and business to business e-commerce applications. In 1997, it acquired and expanded the car-buying site, which claims more than 400,000 visitors each month.