InsureMarket Teams With InsurQuote To Introduce Simplified
Process For Presenting Rate Quotes, Completing Transactions
Service Also Creates New Avenue For Participation by Independent
Agents and Carriers
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 21, 1999--
Intuit Inc. (NASDAQ:INTU) announced today that its Quicken
InsureMarket(R) Web site (http://www.insuremarket.com) has signed a
letter of intent to introduce real-time auto insurance rate quotes
this summer from 20th Century Insurance Company.
"No other online insurance site compares with Quicken
InsureMarket's ability to provide consumers with extensive real-time
information about the rates offered by insurers, as well as a host of
options for completing the auto insurance purchase conveniently
online, or getting additional assistance from an agent or company
representative," says Steven Aldrich, president of Intuit Insurance
Services, Inc. (IIS).
This new service from 20th Century represents an expansion of
InsureMarket's use of the InsurQuote database. InsureMarket has been
providing consumers with free access to an InsurQuote shopping
database of auto insurance rate quotes since last year. Now, select
insurers who work with InsurQuote to generate their rate quotes will
be able to work with InsureMarket to enable consumers to proceed
conveniently to purchase those policies.
In this case, consumers will be able to send their application
information electronically to 20th Century's call center, where
licensed representatives will contact the consumer to complete the
transaction.
Another new option being introduced for using the InsurQuote
database and Quicken InsureMarket provides links to agents who work
with select quoting companies. For the first time, Quicken
InsureMarket will support the direct participation of independent
agents through this service, offering consumers the convenient option
of shopping for insurance on the Internet, combined with the
opportunities for personalized and professional assistance from an
agent to answer additional questions and complete the transaction.
A network of 74 independent insurance agencies in 28 states,
members of the Agency Peak Performance EXchange (APPEX) organization,
can participate in Quicken InsureMarket. Consumers interested in
purchasing policies from select insurers whose quote estimates are
presented on Quicken InsureMarket will be able to link with an agent
in their area who represents that carrier. The electronic transfer of
customer information from Quicken InsureMarket to the APPEX affiliated
agent will save the consumer time.
The APPEX network was formed by Marsh Berry, a consulting firm
for insurance agents and brokers. Its members have 74 offices in 28
states, including California, New York, Texas, Florida and New Jersey.
20th Century Insurance Company is a subsidiary of 20th Century
Industries, the ninth-largest personal auto insurance stock company in
the United States (NYSE:TW). Founded in 1958, the company was a
pioneer of the direct marketing approach in the personal automobile
insurance industry. 20th Century specializes in providing economical
high-quality insurance products and services direct to customers
without agents. 20th Century (http://www.20thCenturyInsurance.com)
markets personal automobile insurance in Arizona, California, Nevada,
Oregon and Washington.
Quicken InsureMarket auto insurance services -- either
comparative rate databases, online purchases, or both -- are available
in most of the largest states in the country, where approximately 80
percent of the nation's licensed drivers live.
The largest shareholder in the InsurQuote service, CCC
Information Services Inc. (NASDAQ:CCCG), recently announced that a
new strategic partner made an equity investment in InsurQuote. That
minority investment was made by Intuit, in the form of the purchase of
preferred stock in InsurQuote.
"We have been working closely with InsurQuote for the past year
to help insurance companies use the Internet to better serve and
acquire new customers, and to help consumers make better and more
informed decisions about their auto insurance needs," Aldrich says.
"Our investment in InsurQuote is a logical extension of our close
working relationship designed to introduce new products and services
for use by insurers."
Quicken InsureMarket is the leading insurance site on the
Internet, with participation from major, national insurance carriers,
and the ability to offer real-time rate auto, term life, and
individual health insurance quotes and online payment options, which
can speed the process of buying insurance. The full-service site also
features a library of educational material so consumers can learn more
about insurance, as well as interactive insurance planning tools and
information from independent insurance experts. Visitor traffic at
Quicken InsureMarket has expanded rapidly, reaching 5.3 million unique
visitor sessions in 1998, more than five times greater than the
previous year.
Quicken InsureMarket is part of Quicken.com
(http://www.quicken.com), which provides individuals with information
and software tools to help them make better financial decisions. It
then provides links to leading financial service providers so
consumers can implement those decisions more conveniently than ever.
Quicken.com content is also offered at some of the most widely
accessed sites on the Internet, as the exclusive provider of personal
financial tools on such sites as CNNfn
(http://www.cnnfn.com/quickenonfn) and Excite
(http://quicken.excite.com). Quicken InsureMarket is also a primary
source of content and programming on the Insurance Center on America
Online (keyword: Insurance).
About Intuit
Intuit Inc., a financial software and Web-based services company,
develops and markets Quicken, the leading personal finance software;
TurboTax, the best-selling tax preparation software; and QuickBooks,
the most popular small business accounting software. Intuit's
Quicken.com (www.quicken.com) offers a complete set of personal
finance news, information, and tools, including the leading mutual
fund and insurance sites. Intuit's products and services enable
individuals, small businesses, and financial professionals to better
manage their financial lives and businesses.
Intuit, the Intuit logo, Quicken, InsureMarket, QuickBooks,
QuickBooks Pro, TurboTax, MacInTax and ProSeries, among others, are
registered trademarks and/or registered service marks of Intuit Inc.
in the United States and other countries. Quicken.com, BankNOW,
QuickenMortgage and Quicken Financial Planner, among others, are
trademarks and/or service marks of Intuit Inc., or one of its
subsidiaries, in the United States and other countries. Other parties'
trademarks or service marks are the property of their respective
owners and should be treated as such.
In order to be in compliance with various jurisdictions' sales
and solicitation requirements, Intuit's IIS subsidiary or its
designated employees are licensed as insurance agents for life and
health in 50 states and Washington, D.C., and as agents for property
and casualty in 50 states and Washington, D.C. IIS also associates
with licensed resident agents in those states where insurance
transactions must be conducted with or through resident agents.
CONTACT: Steve Lipson
River Communications
(914) 591-5599
slipson@riverinc.com |
