Quotesmith.com Reports Record 16,000 Insurance
Quotes in a Single Day
PR Newswire - November 02, 1999 13:00
DARIEN, Ill., Nov. 2 /PRNewswire/ -- Quotesmith.com, Inc. (Nasdaq: QUOT), the
Internet-based service that enables consumers to obtain instant quotes from over 300
companies and to buy from the company of their choice, announced that its Web site processed
a record 16,600 quotes yesterday, marking the first time that the quote volume has exceeded
16,000 quotes in a single day. This new single-day record compares to an average of 5,100
quotes per day recorded during the first three quarters of 1999.
"This 16,000-quote milestone, the first such day in our history, is in line with our marketing
expenditures and validates our business proposition that insurance shoppers want instant and
accurate insurance quotes from a wide variety of companies from a single source without having
to surf multiple Web sites. Our service allows insurance shoppers and business owners to
obtain insurance quotes from over 300 leading companies in seconds and represents a new and
more efficient way to buy insurance. We're delighted to see this enthusiasm for our insurance
price comparison service," remarked Quotesmith.com President and founder Robert Bland.
Bland continued, "We also believe that some of this momentum is due to the fact that on
January 1, most states will adopt a new life insurance regulation known as 'Guideline XXX.'
Right now, term life insurance rates are at all-time lows. According to some industry experts
and financial reporters, this Guideline, when enacted by each of the states, may cause term life
insurance companies to raise premium rates or reduce initial guarantee periods for new
policyholders. While the new Guideline will not affect any life insurance already in force prior to
January 1, nobody knows yet what will happen to premium rates or initial rate guarantee
choices, if anything, after January 1 but a consensus view is forming that term life market
changes are under foot. Quotesmith.com appears to be benefiting from heightened consumer
interest in term life insurance at this time."
Jack |
