The future of insurance is digital!

Like many financial service providers, insurers and other companies in the insurance space are using the Internet to leap the industry forward. Online-only insurers help their clients save by skipping the expenses of maintaining brick-and-mortar storefronts. Meanwhile, insurtech companies continually develop new technology to disrupt the insurance industry and benefit consumers.

Here are some of this year’s most exciting companies creating digital disruption in insurance:

Best Site for Comparing Insurance Quotes: Insurify

Insurify has one goal: making it quick and easy for consumers to compare insurance quotes online. That’s because the easier it is to get comparable quotes, the more likely it is for you to save a significant amount on your insurance premiums.

Whether you’re shopping for auto insurance, home insurance, or life insurance, Insurify can help you identify the best insurer for your needs. In addition to its AI-driven quotes comparison experience, Insurify publishes reviews and other resources to help you get the best policy for you.

Insurify takes you through a series of simple questions so that we can figure out what type of car, home, or life insurance policy you need. Once you’ve completed the brief questionnaire, Insurify presents you with 10 or more real quotes from top insurers. If you like, you can change the policy parameters—for example, shifting your deductible or insurance coverage limits—and Insurify’s algorithm will present you with a brand-new set of real, ready-to-buy quotes in seconds.

All in all, Insurify is one of the best digital insurance platforms around. But don’t take our word for it; companies like Forbes, FinTech Global, Acord, The Digital Insurer, and many others have recognized Insurify as a top digital disruptor in the insurance space.

And Insurify customers agree—Insurify has a 4.8/5 satisfaction rating on ShopperApproved, making it the highest- and most-rated insurance comparison platform in the nation. See more impressive reviews here!

Best Digital Car Insurance for 2020: Root and Metromile

Most auto insurance companies prioritize factors like driving record and credit score when setting your auto insurance premiums. Not Root: this digital auto insurance company uses your driving ability as its primary determinant in setting your rates. To apply, simply download Root’s app on your smartphone and drive around for two to three weeks to demonstrate your driving style. If you qualify, you’ll then get a quote based on your performance as rated by the app.

Root’s unusual approach to setting premiums makes it the perfect fit for excellent drivers who get penalized by other auto insurers for non-driving-related factors.

Root is currently available in the following states: Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and West Virginia. 

It has plans to expand to Alabama, Alaska, the District of Columbia, Hawaii, Massachusetts, New Hampshire, North Carolina, and Washington in the near term. 

Metromile specializes in auto insurance for drivers with low annual mileage. The insurer charges its customers a very low monthly base rate, plus a small per-mile fee. Metromile tracks your monthly distance by using a device called the Pulse, which you plug into your vehicle dashboard. This pricing approach can help drivers with low mileage save a bundle compared to traditional auto insurance policies.

Metromile currently covers drivers in Arizona, California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia, and Washington.

Best Digital Homeowners and Renters Insurance for 2020: Hippo and Lemonade

Hippo uses cutting-edge technology to streamline the home insurance buying process and lower premiums. The company uses everything from satellite imagery to smart monitoring systems to get a highly accurate picture of your home’s situation, potential risks, and coverage needs. Hippo customers receive a smart home monitoring kit; once installed, this kit can spot potential problems like water heater leaks while they’re still minimal.

Hippo’s home insurance policies are currently available in 21 states: Alabama, Arizona, California, Colorado, Georgia, Illinois, Indiana, Maryland, Minnesota, Mississippi, Missouri, Nevada, New Mexico, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, and Wisconsin.

The company hopes to achieve nationwide coverage by the end of 2020.

Lemonade’s approach to home insurance is distinctly quirky: 20 percent of the premiums it collects goes towards company operating expenses, and the rest is used to pay claims. Any unused premiums go to the nonprofit of your choice. The company keeps operating expenses to a minimum by using chatbots and other artificial intelligence tools to meet customer needs; Lemonade does not use insurance brokers at all.

Customers also appreciate Lemonade’s unusual policy to allow up to two claims per year without a rate hike the following year.

Lemonade currently operates in the following states: Arizona, Arkansas, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, and Wisconsin. It’s even expanded abroad to cover homeowners in Germany.

Best Car Insurance Company Mobile Apps

As digital insurance becomes all the rage, more and more insurance companies are rolling out apps for managing their insurance policies. Insurance apps let you file claims, change your policy, make payments, and even monitor your driving so that you can claim a good driving discount. Here’s a sampling of insurance apps that scored at least a 4.5-star average customer satisfaction rating on both Google Play and the Apple App Store.

Esurance: 4.7 on Google Play, 4.8 on the App Store

Reviewers comment on the app’s ease of use and flexibility. Some reviewers noted they like the peace of mind of being able to contact roadside assistance through the app, even if they haven’t added this feature to their policy.

Nationwide: 4.6 on Google Play, 4.8 on the App Store

Reviewers appreciate the ability to sign in via fingerprint, though some comment that the app is a bit outdated.

USAA: 4.6 on Google Play, 4.8 on the App Store 

Reviewers love the one-stop-shop feel of the app, especially those who bank at USAA as well as getting insurance from the company. As of this writing, a recent update caused technical issues for some users.

GEICO: 4.8 on Google Play, 4.8 on the App Store

Several reviews mention how user-friendly this app is, and also wax enthusiastic about the customer service they receive through the app.

Liberty Mutual: 4.7 on Google Play, 4.8 on the App Store

Reviewers describe the app as being easy to use and very comprehensive. Several reviewers particularly like the ability to do just about everything through the app instead of needing to go to the Liberty Mutual Insurance website.

American Family: 4.5 on Google Play, 4.8 on the App Store

Reviewers say they love how easy it is to pull up policy information, including proof of insurance cards. However, they’re not so pleased with the accuracy of the “Know Your Drive” telematics part, which tracks driver behavior and uses it to calculate good driver discounts.

Other insurance companies that have mobile apps include Allstate, State Farm, Progressive, Amica Mutual, MetLife, The Hartford, Safeco, Auto-Owners Insurance, Chubb, and Erie Insurance, among others.

Digital Insurance FAQs

How do I find the best online insurance companies?

Use an insurance quotes comparison site like Insurify to show you which insurance policies are the best deal for you. You can also check reviews on Insurify’s website to confirm that the insurance provider you choose has the customer service, features, and policy options you want.

What is digital insurance?

Digital insurance companies use technology to provide superior products and customer service while also saving their customers money. Often referred to as insurtech, these companies are creating a wave of digital disruption in insurance.

Are there any online-only insurance companies?

Absolutely. Several of the insurance companies mentioned in this article operate solely online. Consult the above list of best digital insurance sites to get some good ideas of where to start your search for online-only insurance.

How to Go 100% Digital on Your Insurance Shopping

Advances in communication, artificial intelligence, and hardware have combined to lift the insurance industry into the 21st century. You can now buy an insurance policy online and manage it using your computer and smartphone, without ever setting foot in an insurance broker’s office or even speaking with someone over the phone. 

Digital insurance isn’t just more convenient for consumers—it can also save them money. Telematics can help insurers set more accurate car insurance rates. Paperless discounts can trim premium bills. And some insurers are embracing the possibilities of digital and no longer need to spend the money to maintain brick-and-mortar storefronts. Those savings could go directly to the customer.

However, going digital does not remove the need to shop around and compare quotes. It’s important to compare your policy with policies from other carriers every time you’re up for renewal, if not more often. And thanks to the new wave of digital disruption, you have Insurify to help you compare the best auto insurance companies in the United States…and quickly and easily get the best possible price for your budget and policy needs.

Browse, Compare, Discover with Insurify today!

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Updated July 1, 2020

Wendy Connick is the founder and owner of Connick Financial Solutions, a provider of tax and bookkeeping services and a QuickBooks Online Certified ProAdvisor. A long-time freelance writer, she specializes in business and finance articles on subjects including taxes, investing, and retirement. Wendy is an Enrolled Agent (EA), the only federally licensed tax practitioners who specialize in taxation and have unlimited rights to represent taxpayers before the IRS. She is a member of the National Association of Enrolled Agents and a certified volunteer for VITA (Volunteer Income Tax Assistance), an IRS-sponsored program to provide free tax help for low-income individuals and families.