No one enjoys paying for insurance. It's like placing a bet that something terrible is going to happen, and really, who wants to think about that? Making matters worse: rates always seem to be on the increase, and you're never entirely sure that you're getting the best deal. Thanks to the internet, though, there's a new way to buy insurance that makes the process a little less painful -- and possibly, more affordable.
iMingle is a web-based insurance company -- which in itself isn't a game-changer. We've seen a number of online agencies pop up over the years, and even venerable brick-and-mortar outfits typically offer the ability to secure quotes and policies through the web.
What makes iMingle different is that it offers group buying for auto insurance through an online referral program. When you sign up for a policy with iMingle, you have the ability to share the news with your friends via email, Facebook, Twitter, and so on. If friends want to sign up and "mingle" their insurance policy with yours, you both receive a 10% discount. It's similar to the sort of discount you'd receive from insuring more than one automobile, except in this case, the second vehicle (and the third, fourth, etc.) are owned by your pals.
This seems like a fairly nifty idea -- one that takes the existing model of the referral program and expands it via the platform of social media. iMingle currently offers auto insurance in 13 states (Colorado, Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Nevada, Oregon, Pennsylvania, South Carolina, Virginia, and Wisconsin), and the company's reach could spread further if the concept proves popular among the thoroughly web-centered "i Generation" (e.g. Generation Y) that iMingle is targeting.
There are, however, some drawbacks. As with any online-only outfit, there are worries about face-to-face customer service in times of need. Also, the small number of states in which iMingle offers insurance could present problems if you're angling for a group discount (especially if your social network is far-flung). And on a related note, there's the issue of friends withdrawing from the program: according to the iMingle operator we spoke to, if your pals bail on the program, you lose the 10% discount.
But for the cost-conscious, those could be minor concerns. If it's time for you to renew, you might check the iMingle website for more details, or skim the press release below.
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iMingle (TM) Launches in South Carolina with Group Buying for Car Insurance; First Provider to Offer Group Discounts for Individual Policyholders
iMingle (TM) has launched in South Carolina as the first direct-to-consumer insurance provider to offer group buying for auto insurance. iMingle is aimed at the i Generation, those consumers who turn to their social networks to find information and share deals. The company is first in the insurance industry to tap social media to allow individual policyholders to link, or “mingle,” their auto insurance policies with those of their friends so they all qualify for a group discount.
Chicago, IL (PRWEB) March 21, 2011 -- iMingle (TM) launched today in South Carolina as the first direct-to-consumer insurance provider to offer group buying for auto insurance.
iMingle is a new marketing approach for direct-to-consumer insurance, aimed at what the company calls the i Generation, those consumers who routinely turn to their social networks to find information, compare deals and seek recommendations from their peers. For the first time, an insurance provider has developed its marketing strategy specifically to meet the needs – and expectations – of these policyholders by rewarding them for two things they are already doing: using social media and buying insurance.