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InsurQuote Drives Auto Insurance at Insurance.com

7 March 2000

InsurQuote Drives Auto Insurance at Fidelity Investments Affiliate Insurance.com; InsurQuote's TransAct Product Debuts in the Financial Services Sector

    PROVO, Utah--March 7, 2000--InsurQuote Systems, Inc., the leading provider of integrated insurance rating solutions, today announced that it will provide Insurance.com(SM), an affiliate of Fidelity Investments(R), with instant auto insurance quotes for its customers through InsurQuote's TransAct software.
    Under this agreement, Insurance.com will use TransAct and InsurQuote's QuoteSearch technology to provide consumers with instant rating and online policy information. Insurance.com will then use InsurQuote's backbone technology to connect customers to an insurance company or agent call center that can complete the purchase.
    InsurQuote and Insurance.com will work together closely in bringing new carriers and additional states to Insurance.com's site, providing the customer with a broad selection of auto insurance products.
    Insurance.com is a life event-driven online insurance marketplace that empowers consumers to select the most appropriate insurance for their needs, from a variety of products and carriers. The site launched last week, giving consumers the resources they need to organize a personalized and self-directed insurance plan.
    Formed by Fidelity Investments, Insurance.com represents the new breed of financial institutions entering the insurance sector.
    "Insurance.com offers our carriers and agents access to over 15 million Fidelity customers as well as the general public," said Bill Woahn, president of InsurQuote. "InsurQuote will enable Insurance.com to supply its customers with the most accurate real-time online rating information available in the most modern and convenient format -- the Web. By establishing a relationship with a Fidelity affiliate, InsurQuote is well positioned to service the financial services sector with Internet-enabled insurance offerings."
    "Insurance.com has followed Fidelity's tradition of using the best-of-class technology providers, and our relationship with InsurQuote is no exception," commented Lou Geremia, president of Insurance.com. "InsurQuote's experience in the Internet environment, coupled with their insurance industry expertise and longstanding carrier relationships make their products a key component of our offering."
    InsurQuote's TransAct product allows consumers to shop and compare insurance rates within the pre-existing framework of Insurance.com. Insurance.com will use the TransAct software in select states, eventually rolling out the product across the United States later this year.

    About InsurQuote

    InsurQuote Systems Inc. is the leading provider of integrated insurance rating solutions to the agency, company and consumer markets. These solutions utilize InsurQuote's sophisticated comparative rating engine that enables the comparison of multiple carriers for auto, home and commercial insurance products.
    In the emerging online insurance shopping environment, InsurQuote leads the way combining a nationwide comparison of auto insurance rates with a complete e-commerce fulfillment solution. The company services thousands of insurance agencies, companies and consumer organizations nationwide.
    InsurQuote recently agreed to merge with ChannelPoint, a leading e-commerce exchange services and technology platform provider for insurance and benefits companies. The InsurQuote Web site is available at www.insurquote.com.

    About Insurance.com

    Insurance.com is the objective, online marketplace that informs and empowers consumers to select the most appropriate insurance products for their needs from a variety of companies. The company's mission is to offer consumers an unbiased, content rich, life event-driven online insurance resource.
    Formed by Fidelity Investments in June 1999, Insurance.com Insurance Agency LLC upholds the same values of trust, responsibility, and service upon which Fidelity was founded. Insurance.com offers its resources and products to Fidelity's 15 million customers as well as the general public. For more information, visit www.insurance.com.