We’re all used to shopping for the best deals. We know we want to buy something, so we jump online and start searching for it and before long, we have multiple companies vying for our business, undercutting each other’s pricing, offering discounts, and promising things the other company won’t. We find the best deal we can and we buy the product or service at a rate that we like.
Google and Searching for Disability Insurance
In 2001 when we started providing disability insurance quotes to consumers who had come to our website, there was very little competition. There was one other site that provided some limited information on disability insurance and the ability to get a quote. The consumer was seemingly at a disadvantage since there were just not a lot of options online to research and buy a policy.
Fast forward to now and there are about 9,250,000 search results for “disability insurance quotes” on Google. There’s A LOT of information out there and the consumer has plenty of options. Interestingly, enough, I’m not sure they’re better off than they were 20 years ago.
When you searched for this 20 years ago, you most often got to an agent who could advise you on what was the best type of policy to protect your income. You’d tell them your situation and they’d talk with underwriters at different companies and then present you with the best option for coverage. Today, the consumer is presented with a virtual spreadsheet of options and often left to make their own decision or talk with a call center representative who may not have the knowledge to be very helpful. Sometimes, more information isn’t helpful, but more experienced advice could be.