Esurance, the insurance company known for its online quotes and annoying commercials, is now officially part of Allstate, after the larger company announced that it has completed the $1 billion acquisition.
The deal is an attempt by Allstate to jump start the online side of its business. According to the Chicago Tribune, the Esurance acquisition will double the number of policies Allstate sells online, giving the company around 4% of the market share in the online insurance field. However, it still has a long way to go to catch up to Geico, which dominates the market with a 38% share.
We’d love to hear from current Esurance customers about your feelings on the sale to Allstate.
While we’re on the topic, the ads featuring the fast-talking Esurance “staff” is one of the many ads nominated in this year’s Worst Ad In America Awards.
Allstate closes $1 billion Esurance deal [Chicago Tribune]