San Francisco-based online auto insurance specialist Esurance Inc. is rolling out a TV ad campaign in markets across the country as the Internet company's rapid growth rate continues. Esurance, which sells its policies in 17 states, plans to start marketing in five new ones this year, beginning in New Jersey by month-end, and followed by Indiana, Minnesota, Tennessee and Wisconsin.
California accounts for about 25 percent of Esurance's business, and Florida 24 percent, with Texas in the third slot.
About 80 percent of Esurance's business comes to it directly, either online or over the phone, including a click feature on its www.esurance.com web site that lets potential customers connect by phone to a sales representative.
The company's revenue has exploded from $3.5 million five years ago to $201 million last year, jumping 73 percent in 2004 alone. It hopes to nearly double its policyholder ranks this year, from 140,000 currently to as many as 250,000 by year-end, according to Gary Tolman, Esurance's president and CEO.
Esurance has claims offices in Sacramento, Dallas and Tampa, and plans to open sites this year in Atlanta and Phoenix.
Esurance posted its first profit ever last year, a small but significant $3.8 million. In contrast, it lost $18.5 million in 2003 and $25.1 million in 2002.
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