Wal-Mart selling insurance is nothing new to British Columbia residents, says one insurer that has a long-established relationship with the retail chain not only in B.C., but neighbouring Alberta.
Following the announcement that Wal-Mart customers could now click through a link on the website to get competing quotes from several car insurance providers, one Insurance Business subscriber noted that Wal-Mart’s position in the auto insurance market has already been established in B.C.
“Wal-Mart in B.C. already has kiosks run by the Sussex Group inside its stores selling car insurance,” commented Ian on the Wal-Mart announcement. “It's quite common in this market to buy groceries and car insurance in the same place.”
Sussex Insurance chief operating officer and general counsel Aly Kanji told Insurance Business that Wal-Mart as a facilitator for online insurance comparison is nothing new.
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“You can get quotes from Kanetix through Wal-Mart’s online portal, and Kanetix gives a percentage to Wal-Mart,” says Kanji. “That’s been around for some time now in Canada.”
Kanji explained that Sussex Insurance has a physical presence in Wal-Marts and Great Canadian Superstores throughout B.C. and Alberta.
Kanji was selected by Salute BC for the Rising Star Award last year, which honours a person from the next generation, whose professional contributions and dedication to excellence have already made them a leader and a role model in the insurance industry in British Columbia.
Although unable to comment on the specifics of the relationship with Wal-Mart and the other chain stores, Kanji does say that the relationship with the giant retailer has produced definite results. (continued.)
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“We are responsible for doing one out of every 14 Autoplas in the B.C. market,” he says.
The latest initiative by Wal-Mart will now allow consumers to click through a link on walmart.com, or go through autoinsurance.com directly, gathering competing quotes from several car insurance providers such as Progressive, Esurance and Safeco.
“We are always looking for ways to reduce complexity,” Daniel Eckert, Wal-Mart’s senior vice-president of services told CNN, “increase transparency, and give everyday low prices to Wal-Mart shoppers.”
