Question

the internet has resulted in lower search costs, increased price comparison, and lower prices to consumers for which insurance product line? question 5select one: a. term life insurance b. automobile insurance c. health insurance d. property and casualty insurance

Answer 1

The internet has most notably impacted the automobile insurance product line, enabling consumers to easily search, compare, and select insurance, leading to increased competition and lower prices.

Step-by-step explanation:

The internet has facilitated a marked improvement in the efficiency with which consumers can search for insurance products, compare prices, and ultimately secure lower prices. Specifically, for the insurance product line of automobile insurance, the internet has been particularly transformative. Consumers can quickly gather insurance quotes from multiple providers, compare the benefits and costs side by side, and choose the most cost-effective policy for their needs. This increased transparency and ease of comparison have contributed to more competitive pricing within the automobile insurance market.