Top Insurers Selling Insurance Online Through YouZoom Network
11 January 2000
Top Insurers Selling Insurance Online Through YouZoom Network; YouZoom Doubles the Number of A-rated Insurers Closing Auto Insurance Sales Online
SAN DIEGO--Jan. 11, 2000--YouZoom Inc., the only company enabling independent insurance agents/brokers to market and sell a full array of quality insurance policies to its customers over the Internet, has announced participating insurers that are selling insurance products through its online network.California auto insurance shoppers can now go online and immediately compare rates among, and purchase policies from, top insurers Clarendon National Insurance Co. (Hanover), The General Insurance Co. of Trieste & Venice (Generali), ZC Insurance Co. (Zurich), Sirius America Insurance Co. (ABB), Sydney Reinsurance Corp. (QBE), The Doctor's Co., Redland Insurance Co. (Acceptance) and Southern Insurance Co. (Credit Suisse Winterthur).
"Because companies that are part of some of the largest, most financially sound insurance groups in the world are offering insurance through YouZoom, we have made sure that customers shopping via our network of agent/broker Web sites can have confidence in the quality of insurance policies they are buying," said Patrick J. Kilkenny, chairman of YouZoom Inc. "That kind of assurance is not always easy to find on the Web."
All insurance companies available through YouZoom carry A.M. Best(a) financial strength ratings of A- (Excellent) or better. Their products are distributed through a network of independent insurance agent/broker Web sites created using YouZoom's proprietary technology. YouZoom enables agents/brokers to provide immediate quotes from these top carriers and allows consumers to instantly purchase policies online, 24 hours a day.
"We believe the fact that YouZoom has been able to include the independent agent in the online process will prove visionary over time," said Ian Davey, senior vice president of QBE Insurance Corp. "Consumers will find that being able to turn to an insurance professional should they need to is a tremendous added value, even when they are transacting insurance on the Internet."
The YouZoom Network launched its first member sites on Dec. 6, 1999, and has already sold auto insurance policies over the Internet to California consumers. California represents the first part of a national strategy for YouZoom that will roll out additional states and insurance products in the coming months.
"We are excited to be offering insurance to consumers through the YouZoom Network," said Bard Bunaes, president of Sirius America Insurance Co. "We quickly recognized the unique capabilities of YouZoom, but were very surprised when we sold our first policy on only our second day online. We think that YouZoom represents a great way for our company to play a leading role in online insurance."
To access these capabilities, consumers go directly to the YouZoom Network agent/broker's Web site or can be linked through YouZoom by visiting www.youzoom.com.
YouZoom Inc. is a venture of Arrowhead General Insurance Agency Inc., which at $300 million in annual premiums, is the nation's largest privately held general insurance agency. Arrowhead represents more A-rated carriers than any other general insurance agency in the United States.
Independent agents and brokers who would like more information about joining the YouZoom Network can contact Garreth Germono at 800/669-1889, ext. 687, or may visit www.youzoom.com.
(a) A.M. Best's rating is an independent third-party evaluation that subjects all insurers to the same rigorous criteria, providing a valuable benchmark for comparing insurers, regardless of their country of domicile.
