ValChoice®, the only analytics company for consumers of insurance, today announced a new market analysis report challenging the insurance claims by Donald Trump that selling across state lines will create more competition, thereby driving down costs and helping middle and lower income families. The ValChoice analysis identifies the possible negative consequences consumers could experience if carriers begin selling across state lines and recommends the best approaches for creating competition and driving down the cost of insurance for consumers.
“Unlike other industries in America, adding more providers of insurance does not necessarily translate into more competition and lower prices,” said Dan Karr, CEO of ValChoice. “The problem with insurance is a lack of transparency into claims payment practices and financial data. If consumers had this, they could make informed decisions and create the desired competition that results in insurance companies competing based on the quality of their product.”