compensation, marine, accident, and other lines such as vacation insurance. Writing an insurance policy in any of these areas is very information-intense, often necessitating personal inspection of the properties, and it requires considerable actuarial experience nad data. The life insurance industry has also developed life insurance policies that defy easy comparison and can only be explained and sold by an experienced sales agent.
Historically, the insurance industry has relied on thousands of local insurance offices and agents to sell complex products uniquely suited to the circumstances of the insured person and the property. Complicating the insurance marketplace is the fact that the insurance industry is not federally regulated, but rather is regulated by 50 different state insurance commissions that are strongly influenced by local insurance agents. Before a Web site can offer quotations on insurance, it must obtain a license to enter insurance business in sll the states where it provides quotation services or sells insurance.