YouZoom.com Expands Online Insurance Offering to Washington; Washington Drivers Now Can Comparison Shop, Purchase Auto Coverage Online

    SAN DIEGO--April 18, 2001--YouZoom.com, the first online insurance provider to offer immediate purchase of multiple insurance products, is now available for Washington State residents.
    Washington drivers now can go online to compare rates and purchase auto insurance online from a local independent agent or broker.
    "YouZoom has been successful in every state we've entered, and we're excited about our plan for Washington," said Kieran Sweeney, YouZoom president. "We're using the power of the Internet to optimize the efficiency and ease of insurance transactions for both consumers and agents. Now consumers can go online at their convenience, view insurance quotes and purchase coverage, all from a local agent's Web site. The whole process takes less than 10 minutes, and consumers still have the peace of mind of knowing they have a personal agent advocate."
    Consumers can access the online service by visiting a neighborhood YouZoom Network member's site directly, or by using the Agent Locator at www.YouZoom.com. Then, consumers can complete a simple three-minute application to receive a selection of price quotes and, if desired, instantly purchase an insurance policy and print out proof of coverage.
    A recent Gomez study projects 54.4 percent of Internet users intend to shop for their next auto insurance purchase online. And according to Forrester Research, Internet sales of auto, home and life insurance will reach $13.5 billion by 2004. Yet despite the clear growth potential of this segment, industry surveys show that only 7 percent to 20 percent of Web sites offer online quoting, and fewer than five percent offer consumers the ability to buy a policy online.
    The YouZoom Network is enabling insurance companies and distributors alike to realize the tremendous potential that is still untapped in the online insurance market. The company is building a network of independent agent and broker Web sites where consumers can compare prices, purchase insurance, and manage many aspects of their insurance policies online. YouZoom provides agents with an online storefront containing online rating and binding capabilities, as well as the backend infrastructure to successfully sell insurance policies online. All insurance companies available at YouZoom-enabled Web sites carry A.M. Best financial strength ratings of A- (Excellent) or better.
    Launched in California in 1999, YouZoom currently represents 10 insurance companies selling personal auto and property insurance in five states (California, Arizona, Washington, Texas and Georgia), with plans to enter additional states by mid-year 2001.
    Independent agents and brokers who would like more information about joining the YouZoom Network can contact Deana Giforos at 800/304-2504, ext. 8622, or may visit www.YouZoom.com.
    YouZoom.com is an affiliate of Arrowhead General Insurance Agency Inc., which at more than $400 million in annual premiums is one of the nation's largest privately held general insurance agencies. Arrowhead represents more A-rated carriers than any other general insurance agency in the United States.