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QuickenInsurance Offers Greater Selection and Choice With New Carriers

24 July 2000

QuickenInsurance Offers Greater Selection and Choice With New Carriers

    MOUNTAIN VIEW, Calif. - QuickenInsurance, the leading online insurance marketplace provided by Intuit Insurance Services Inc., a wholly owned subsidiary of Intuit Inc. , announced today that Instant Auto Insurance, New York Life Insurance Company and Wausau Insurance Companies will now offer insurance products through its award-winning Web site.

    To continue providing the most complete online insurance experience for consumers, QuickenInsurance will be offering a new product from Instant Auto Insurance - coverage tailored to consumers with less-than-perfect driving records; long-term care insurance through New York Life, and for small businesses workers compensation insurance through Wausau Insurance Companies.

    "With the addition of these new carriers, we can offer even greater choice for consumers in segments of the insurance market that do not have as many options," said Steven Aldrich, president and general manager of QuickenInsurance.

    Enhanced Automotive Choices with Instant Auto

    While some insurers may require higher premiums and more stringent limits, Instant Auto offers affordable coverage to consumers with less-than-perfect driving records by offering their products online through unique distribution channels without compromising the high quality of service.

    After completing a questionnaire, consumers receive instant and accurate quotes from multiple, highly-rated auto insurance companies in a matter of minutes. Consumers then generally have the option to purchase a policy directly online, a feature offered exclusively through QuickenInsurance.

    "Working with QuickenInsurance provides a great opportunity for us," said B.G. Porter, President and CEO. "We share a similar philosophy of bringing quick, affordable and quality insurance services to the driving population of the nation."

    Long-Term Insurance Protection with New York Life

    Consumers can now research and purchase long-term care products from New York Life Insurance Company through QuickenInsurance. For people who may require ongoing skilled or personal care due to chronic illnesses, long-term care insurance helps consumers afford the necessary treatments for maintaining independent living.

    "With QuickenInsurance, consumers interested in coverage for chronic illness care can search for an insurance policy in the privacy and comfort of their own homes," said Ken Grubb, President of New York Life's Long-Term Care division. "QuickenInsurance gives us the ability to reach a broader audience who otherwise might not have the opportunity to understand the risk they face and the options they have for long term care protection."

    Workers Compensation Benefits For Small Business from Wausau
    Insurance Companies

    Through QuickenInsurance, small business owners can receive a workers compensation price quote from Wausau Insurance Companies. Workers compensation coverage, which provides protection for employees for work-related injuries and accidents, is required for most small business owners by most states.

    "With QuickenInsurance as a distribution channel, we can reach even more small businesses to help insure more employees," said Jim Schulte, executive in charge of eWausau.com(SM). "Intuit's customer base of several million small businesses nationwide can help us bring appropriate workplace security to more of the population who work in small businesses."

    About Instant Auto Insurance

    Instant Auto Insurance is a venture capital backed specialty auto insurance company launched in January of 1999 that operates with a "virtual business model" online and through strategic distribution relationships with Brick and Mortar retailers. Instant Auto Insurance virtual model allows them to keep their expenses and rates low, while maintaining consistently high service levels to their customers and providing a great claim experience.

    About New York Life Insurance Company

    New York Life Insurance Company, a Fortune 100 company, is one of the largest insurance companies in the United States and the world. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer traditional life insurance, annuities and long-term care. On the investment side, New York Life's affiliates provide institutional asset management and trust services and, through a subsidiary, NYLIFE Distributors Inc., provide an array of securities, products and services such as institutional and retail mutual funds, including 401(k) products.

    About Wausau Insurance Companies

    Founded in 1911, Wausau Insurance is a leading business insurance carrier based in Wausau, Wisconsin. The company has been a member of the Boston-based Liberty Mutual Group since January 1, 1999, and has an A+ (Superior) A.M. Best rating.

    About QuickenInsurance

    QuickenInsurance is the leading insurance service Web site on the Internet, offering real-time, online term life and auto insurance quotes, complete with multiple payment options. The site, which was named the top insurance aggregator by Morgan Stanley Dean Witter in 1999 and is currently ranked as the number one online insurance firm by Gomez Advisors, also features a library of educational material to assist consumers in learning more about insurance, as well as interactive insurance planning tools and information from independent experts.

    QuickenInsurance is part of Quicken.com, which provides individuals with information and software tools to help them make better financial decisions.

    About Intuit Inc.

    Intuit Inc. is the leader in e-finance, including financial software and Web-based services for consumers and small businesses. Intuit develops and markets QuickBooks, the most popular small business accounting software; Quicken, the leading personal finance software; and TurboTax, the best-selling personal tax preparation software. An innovator in delivering Web-based financial tools, Intuit is the leading provider of online tax preparation and filing and online mortgages. Intuit is also breaking new ground as the leader in online bill presentment and payment, and in the delivery of its QuickBooks Internet Gateway platform of connected e-services for small businesses.

    Intuit's Quicken.com Web site is a leading financial site, offering a comprehensive set of financial news, information and tools, including insurance, mortgage, investment and tax preparation services. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses.