Kanetix study shows auto insurance premiums dropped 21% in Q1 2007

TORONTO, May 2007 — Today, kanetix (www.kanetix.ca), Canada's insurance marketplace, released results of a recent study showing that through www.kanetix.ca, Ontario shoppers are getting online insurance quotes that are on average about 21 per cent cheaper than what they were getting this time last year.

By comparing the average lowest auto insurance premium quoted online through www.kanetix.ca/auto-insurance in the first 3 months of 2007—January, February and March—with the average lowest premium quoted from the same period in 2006, kanetix found that the average lowest price had decreased by 21 per cent.

"For the last while in the auto insurance industry, increased competition has led to more aggressive marketing, new innovative features, discounts, and most importantly, lower insurance rates," explains Gregory Ellis, Co-founder of kanetix. "And this trend continues into 2007, much to the benefit of drivers. Of course, this benefit is only really realized when a person shops around for their auto insurance to see what other insurers can offer."

While it is often easy to review and accept the renewal notice from your current insurer, especially if your premium decreased, it's also easy to get comparative quotes online in minutes to make sure that you’re getting the best possible rate. At www.kanetix.ca/auto-insurance, kanetix offers consumers a better and quicker way to shop for auto insurance, after all, kanetix is the website where insurance companies compete, and you save money.

About kanetix
Launched in October 1999, kanetix is Canada's only national, online insurance marketplace. The kanetix insurance information and shopping service brings consumers and insurance companies together in a one-stop shopping environment. Each day, thousands of consumers visit the kanetix website to compare insurance quotes from a variety of Canadian insurance companies. Users can select the insurance quote of their choice and choose to complete the application for coverage online or purchase their policy over the phone.

In addition to the insurance marketplace, kanetix is the leading provider of online insurance quotation technology and develops online quotation systems and websites for some of Canada's leading insurance providers.


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For more information, please contact:

Gregory Ellis
Co-founder
1-888-854-2503
www.kanetix.ca