YouZoom.com Adds Term-Life Insurance to Online Offering; Consumers Can Now Comparison Shop Auto, Homeowners and Life Insurance in One Stop
SAN DIEGO--Aug. 10, 2001--YouZoom.com has expanded its product line to offer consumers the ability to comparatively rate term-life insurance coverage online. With the launch of this new product line, YouZoom's product offering now includes auto, home and life insurance, the three personal insurance products that consumers are most interested in purchasing over the Internet, announced Kieran Sweeney, president and CEO of YouZoom, Inc."Building on our successes as a leading provider of auto and homeowners insurance products online, we have taken the same consumer-friendly approach to offering term-life insurance," Sweeney said. "In less than five minutes, a consumer can view a selection of quotes from some of the nation's leading life insurance companies. The whole process is fast, easy and totally secure."
In addition to rounding out YouZoom's product offering, Sweeney said the addition of term-life insurance significantly expands the company's geographic presence. Term-life coverage is available to consumers in 47 states (Hawaii, Massachusetts and South Dakota excluded). Insurance policies are underwritten only by insurance companies rated "A" or better and are serviced by Matrix Direct, a leading provider of life insurance fulfillment services.
YouZoom is building a network of insurance Web sites where consumers can compare prices, purchase insurance, and manage many aspects of their insurance policies online. Launched in California in 1999, YouZoom currently represents 12 insurance companies selling personal auto and property insurance in five states (California, Arizona, Washington, Texas and Georgia), and term-life insurance in 47 states.
Industry analysts project that online sales of auto, home and life insurance will rise from their current level of less than $2 billion, to between $10-$15 billion over the next three years. YouZoom is well positioned to be a dominant force in the online insurance marketplace because it has created a superior user experience offering online consumers:
| -- | Choice: Consumers select from quotes provided by multiple quality insurance carriers. |
| -- | Convenience: Consumers receive a list of quotes in seconds after an application process that typically takes three to five minutes. The consumer can review their options and purchase a policy over the Web immediately, avoiding the lengthy application process and delayed responses common with other online insurance offerings.(1) |
| -- | Service: Consumers purchasing insurance online through a YouZoom-enabled web site can still enjoy the personal, professional service of an agent or broker. While getting a quote or purchasing a policy online, consumers can use YouZoom's "Live Help" feature to interact real-time with a live service specialist. |
| -- | Flexibility: Consumers can purchase their policies and handle payments, claims and policy changes any way they choose: online, over the phone or in person. |
| -- | Security: Consumers are assured that their transactions and information are protected by the highest level of security available on the Internet today. |
To access Network agents/brokers, consumers can go directly to a locally marketed YouZoom Network site, or can be referred there by visiting .
YouZoom is an affiliate of San Diego-based Arrowhead General Insurance Agency Inc., which at more than $400 million in annual premium writings, is one of the nation's largest privately held general insurance agencies.
((1)Unlike YouZoom's auto and homeowners offering where a policy may
be purchased instantly from participating web sites, a medical
examination is required before the life insurance sale can be
completed.)