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Who are the online players? Click the image below to find out.

Insurance has traditionally been sold through independent brokers representing larger insurance companies. Companies targeted their policyholders through media advertising, networking, and the telephone. The Internet has added a new dimension to the insurance industry in much the same way it has benefited the banking and securities brokerage industries. Insurance companies now have the ability to reach potential customers through online marketing, thus reducing their dependence on independent brokers. This reduces their costs of land, office space, equipment, and administration. Furthermore, the internet facilitates standardization of products, and insurance companies have greater control over product quality and the image they convey to the public. All these benefits enhance operational efficiency and point to one conclusion—the Internet is here to stay.