Walmart Enters the Insurance Business

Walmart is entering the auto insurance business in its latest move to offer affordable services to customers.

The retail giant is partnering with AutoInsurance.com, a price-comparison and shopping website. The website was created after Walmart approached parent company Tranzutary Insurance Solutions with the idea to create an integrated auto insurance service that lets consumers shop for and purchase policies on one site, instead of directing them to the individual sites of specific insurance providers when they’re ready to buy. It’s now available in eight states, with plans to roll out nationwide in the coming months. The site pulls in your existing insurance policy and lets you compare rates across companies including Progressive, Travelers, E-surance and Safeco. It allows shoppers to buy policies directly from AutoInsurance.com. Walmart does not operate the service but will serve as the sole marketing partner to promote the website. Walmart will feature displays in stores, as well as promote the service on its website. It will receive monthly payments for each store where the service is promoted.

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