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YouZoom Inc. Launches 100 Insurance Sites in First 100 Days; Independent Agents Now Outnumber All Other Sellers of Auto Insurance Online

15 March 2000

YouZoom Inc. Launches 100 Insurance Sites in First 100 Days; Independent Agents Now Outnumber All Other Sellers of Auto Insurance Online

    SAN DIEGO--March 15, 2000--YouZoom Inc., the only company building a nationwide network of independent insurance agent and broker Web sites where consumers can comparatively shop for and purchase insurance online, has launched 100 sites in its first 100 days, announced Kieran Sweeney, president and chief executive officer of YouZoom.
    The network has doubled its online sales of auto insurance each month since its December launch and is on target to exceed its sales projections of $5 million in premium in the first year. The number of sites in the network is expected to grow to 250 by early summer.
    "YouZoom is unique because it ensures that online customers don't lose the personal contact and advocacy they get when they buy insurance through an agent," said Sweeney.
    "YouZoom is making the independent agent the most powerful force in online insurance by enabling them to offer consumers all the convenience of product selection, instant purchasing as well as personal customer service at the agent's Web site. Today, there are 100 independent insurance agents and brokers selling policies online who didn't have that capability three months ago."
    "Customers have told us that they can't compare prices and buy online at other sites," said Douglas Cohen, CIC, of ensurance.com, which launched in December.
    "At our site, they can shop between companies, purchase their insurance and talk to a live representative 24 hours a day. We have policies being sold as late as 2 a.m. We are excited about the growth we are already seeing. It's far more than we expected."
    YouZoom launched the first sites as part of its network in December 1999. Agents are currently selling auto insurance online in California, with additional states and products being added shortly.
    In the first quarter of 2000, YouZoom plans to offer homeowners' insurance in California, followed by additional property and casualty insurance lines as well as life products. Five other states will be added to the network this year: Texas, Arizona, Washington, Oregon and Florida.
    To access network agents and brokers, consumers can go directly to a locally marketed YouZoom Network agent's site or can be referred there by visiting www.youzoom.com.
    Independent agents and brokers who would like more information about joining the YouZoom Network can contact Deana Giforos at 877/YOUZOOM, ext. 7687, or may visit www.youzoom.com.
    YouZoom is an affiliate of Arrowhead General Insurance Agency Inc., which at $350 million in annual premiums is one of the nation's largest privately held general insurance agencies. Arrowhead represents three of the world's leading insurance groups and more A-rated carriers than any other general insurance agency in the United States.