Farmers Insurance is launching a new consumer web portal designed, in part, to expand how it sells auto and other kinds of insurance. The initiative reflects a push to attract and retain younger Internet-savvy customers.
Farmers said it will partner with California technology company TrueCar to launch its new Farmers Inner Circle consumer portal. It’s designed with various categories such as “Auto Smarts” and “Home Tool Kit” that help customers learn tips or find resources about everything from auto safety to home ownership and life planning.
But one of the portals—”Exclusive Farmers Perks”—will link to the new Farmers Car Buying Service, which is expected to be the first of a number of new value-related programs. Customers who choose this service can qualify, in part, for a Buyer’s Bonus, which includes $2,000 in additional benefits including limited auto repair expense reimbursement and automobile deductible reimbursement coverage, Farmers said.
Farmers added that the TrueCar/Farmers Car Buying Service/Buyers Bonus initiative is designed to both help customers save money, but make more informed responsible decisions.
“At Farmers, we are consistently looking for new products and programs to help our customers make better informed decisions that improve their lives,” Mariel Devesa, leader of product innovation for Farmers, said in a statement.
Such an initiative, if successful, could combat rivals such as Allstate, which has tried to reach younger consumers through its acquisition of Esurance and it vast online self-directed consumer portal. Rival Progressive, the nation’s fourth-largest U.S. auto insurer, is trying innovations such as its Snapshot program, which fits in the car and helps monitor customers’ driving habits, enabling them to track projected savings online.