The nation’s largest retailer has partnered with an leading auto insurance website to allow shoppers to compare and purchase auto coverage online.
Consumers in eight states can now purchase auto insurance through AutoInsurance.com. Walmart’s (WMT) developed the website in collaboration with Tranzutary Insurance Solutions and tested the service in Pennsylvania last year. AutoInsurance.com will be marketed by WMT in Walmart stores and with a link on Walmart’s website, USA TODAY notes.
AutoInsurance.com users can compare and buy policies from major insurance providers, including Travelers (TRV), Progressive (PGR), Safeco and Esurance. According to WMT, a survey found that customers who purchased coverage through AutoInsurance.com during its test-run last year saved an average of more than $1,100 in annual auto insurance payments. WMT plans to roll out the service nationwide this year.
A Walmart executive indicated that WMT is working with Tranzutary Insurance Solutions on a life insurance service, currently available in Georgia and South Carolina as part of a trial.
The auto insurance service represents yet another step by Walmart to expand its financial service offerings. WMT recently launched its own money-transfer service, permitting customers to send money to and from Walmart stores.
WMT stock slipped slightly in Wednesday morning trading.
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