Consumers Can Save More Than $900 on Auto Insurance Each Year and Switch Carriers in Minutes With New Experian Service

Rhea-AI Summary

Experian introduces a new auto insurance shopping tool aimed at helping consumers save over $900 annually on auto insurance. This tool provides tailored rates from over 40 top insurance carriers, allowing users to easily compare and switch policies. In light of rising auto insurance rates in 2022, this innovative service allows for quick access to competitive quotes, enhancing consumer financial health. Experian's acquisition of Gabi empowers this service, reinforcing its commitment to offering comprehensive financial solutions.

Positive

• Potential average savings of over $900 per year for consumers.
• Access to tailored rates from over 40 leading auto insurance carriers.
• Quick and hassle-free comparison shopping experience.
• Free active rate monitoring to find better deals continuously.

Negative

• None.

As Americans grapple with rising costs, Experian’s new auto insurance shopping tool can keep money in consumers’ wallets by delivering better, tailored rates from top carriers

COSTA MESA, Calif.--(BUSINESS WIRE)-- With rising inflation and interest rates impacting American pocketbooks, Experian® announced today it can help consumers potentially save, on average, more than $900 per yearⁱ on auto insurance. The company’s new tool delivers multiple, tailored rates from more than 40 leading and well-established auto insurance carriers, allowing consumers to quickly find and switch to an auto insurance coverage plan that meets their needs.

To access the Experian auto insurance shopping tool, visit www.experian.com/save (Photo: Business Wire)

While auto insurance rates are expected to increase in 2022ⁱⁱ, consumers can now easily and quickly shop for better, less expensive auto insurance through Experian’s new tool. Within minutes, consumers who share their current auto insurance policy with Experian will receive several tailored quotes to discover the auto insurance plan that’s right for them. From there, consumers can easily switch to their new auto insurance carrier all in one place.

Consumers who want to stop overpaying for auto insurance can comparison shop at www.experian.com/save.

“We have cracked the code on shopping for auto insurance and created a hassle-free experience for consumers,” said Hanno Fichtner, Head of Experian’s Digital Insurance Agency and co-founder, CEO of Gabi. “As prices soar on everything from groceries to gasoline, consumers are looking for ways to maximize their budget. Our auto insurance comparison tool allows consumers to do in minutes what used to take hours and possibly save hundreds of dollars.”

For added peace of mind, Experian also offers free active rate monitoring. Its auto insurance tool scours the market on an ongoing basis to find auto insurance deals amongst Experian’s comprehensive network of carriers that may help consumers save money.

Powered by its recent acquisition of Gabi®, a digital insurance agency with access to more than 40 U.S. insurance carriers and insurance licensing across all 50 states, Experian’s expansion into auto insurance follows several innovative offerings by the company to help consumers improve their financial health, including Experian Go™ and Experian Boost™ⁱⁱⁱ.

Experian Go is a free program that allows consumers to create an Experian credit report without going into debt, and Experian Boost gives consumers the ability to directly add positive payment history for utility and telecom accounts as well as video streaming services to their Experian credit report to potentially increase their FICO® Score instantly^iv.

“We continuously aim to develop products and services that help consumers achieve their financial goals,” said Jeff Softley, president, Direct to Consumer at Experian. “It’s a natural fit for us to help consumers find the best prices for big ticket costs like auto insurance. Along with our credit solutions and CreditMatch™ marketplace that provides personalized credit card offers, this tool is another way we help achieve financial power for all.”

About Experian

Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car to sending a child to college to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.

We have 20,000 people operating across 44 countries, and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

Experian and the Experian trademarks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

FICO is a registered trademark of Fair Isaac Corporation.

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ⁱ The average savings number was calculated using actual Gabi purchasers’ final savings when comparing the new policy issued with the prior policy. Results may vary and some may not see savings.
ⁱⁱ S&P Global Market Intelligence, Auto Insurance Market Report, 2021
ⁱⁱⁱ Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.
^iv Credit score calculated based on FICO Score 8 model. Your lender or insurer may use a different FICO^® Score than FICO^® Score 8, or another type of credit score altogether. Learn more

View source version on businesswire.com: https://www.businesswire.com/news/home/20220223005510/en/

Sandra Bernardo

Experian Public Relations

1 714 460 37390

sandra.bernardo@experian.com

Source: Experian