InsureConnection.com Launches New Web Site for Internet Insurance Shoppers; Start-up Venture Aims to Link Insurance Agents with Internet Users
Business Wire, May 22, 2000
Business Editors, High-Tech Writers
PORTLAND, Ore.–(BUSINESS WIRE)–May 22, 2000
InsureConnection, Inc. (www.insureconnection.com) announced today that it has launched a new Web site for insurance shoppers.
The insurance aggregator Web site allows users anywhere in the U.S. to easily obtain and compare personal insurance quotes from a variety of companies. Quotes are currently available for life, auto and property (homeowners, renters, etc.), with additional products and insurers to be added in the coming weeks. To obtain quotes, the user fills out an on-line request form. InsureConnection then forwards the quote request to the appropriate agents and/or insurers, who are required to respond with quotes directly to the user within one business day. Agents and/or companies are charged a fee for each quote request the site forwards to them.
InsureConnection is entering a marketplace that has several well-established competitors, but the new venture is receiving an enthusiastic response from many of the nation’s largest insurance firms. The key to its warm reception: InsureConnection is designed to offer shoppers a wide variety of choices while making the Internet a valuable marketing channel for insurance agents.
“Many insurers and agents have been reluctant to commit to Internet sales because of the fear that Web sites will supplant or cut agents out of the insurance process,” said Phillip Alfieri, InsureConnection founder and president. “We believe that the Internet can be a channel that allows agents to compete on a level playing field with direct writers as well as other agents, and we’ve designed our site to help everyone do just that. The result is not only good for agents and insurers, it provides the fairest and most objective insurance shopping experience for customers. Our ability to respond to those needs is a major reason why insurers that have been reluctant to join or are disappointed with other aggregators are signing on with us.”
Insurance aggregator Web sites have a wide variety of business models. Some sell insurance directly from one, two or three insurers. Some provide instant quotes on-line. Others forward quote requests to a large number of insurers and charge for each forwarded request
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