Quicken InsureMarket's Advanced Internet Auto Insurance Service Now Available
28 July 1998
Quicken InsureMarket's Advanced Internet Auto Insurance Service Now Available in 10 States as Colorado, Iowa Added
MOUNTAIN VIEW, Calif.--July 28, 1998--Intuit's Insurance Subsidiary Also Announces Name Change
Intuit, Inc. announced today that its Quicken InsureMarket(SM) Web site (http://www.insuremarket.com) is now providing online auto insurance purchasing services in 10 states. Colorado and Iowa are the latest states to gain access to the service, which began its national roll out in February.
Quicken InsureMarket's auto insurance service represents the next generation in online insurance, offering more than just rate quotes or the ability to submit an online application. Quicken InsureMarket allows consumers to complete an application and then proceed quickly and easily through a transaction to accept and pay for coverage. The service is currently available to drivers in Alabama, Colorado, Georgia, Illinois, Indiana, Iowa, Nebraska, Missouri, Tennessee and Wisconsin.
Intuit also announced that its online insurance services subsidiary has changed its name to Intuit Insurance Services, Inc. Previously, the subsidiary was known as Interactive Insurance Services Corp. Intuit acquired the business in 1995.
"Our new name reflects many of the developments during the past year that have tied Quicken InsureMarket more closely together with other online services and software products of our parent Intuit," says Steven Aldrich, president of Intuit Insurance Services. "Through Intuit's agreements to provide the financial content of its Quicken.com service to many of the most popular online sites, Quicken InsureMarket is available on America Online, Excite and CNNfn. The insurance services are also accessible directly from the latest versions of Quicken desktop software."
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 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.
In order to offer its auto insurance services online, the Quicken InsureMarket service interacts with an insurer's database to produce an individualized rate quote in real-time, verifies driving records with states while a transaction is being processed online; facilitates online payment, provides immediate notification to approved consumers (when the condition set by each insurer are met); and enables coverage to commence as soon as after midnight of the following business day.
As previously announced, Travelers Property Casualty, through Travelers Indemnity and its affiliates, is the first carrier to introduce auto coverage through the Quicken InsureMarket service. Electric Insurance Company and InsureDirect have also announced plans to begin offering auto insurance on the site later this year.
Other insurance providers participating in the Quicken InsureMarket service include: the Allstate Insurance Company, John Hancock Financial Services, Lincoln Benefit Life, MetLife, Ohio National Financial Services, Prudential Insurance, State Farm Insurance, Transamerica Occidental Life Insurance Company, Travelers Life & Annuity, UNUM and Zurich Direct.
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 49 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.
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 access 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.
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, 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, Quicken InsureMarket, 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.
