How big is insurance e-commerce?
A. The potential for insurance online is enormous. The industry’s nearly $800 billion a year in premiums dwarfs other emerging e-commerce industries such as travel, book sales, music and video combined. Forrester Research predicts that $4.1 billion in insurance policies will be sold online by 2003, with auto insurance leading the way. Conning & Co. goes farther, estimating that, for auto insurance alone, as much as 20% of the business – $26 billion of a $130 billion segment – could be transacted online by 2004.
