The QuickQuote Story An Internet Original
While there have been many imitations, QuickQuote is still the Internet's original insurance comparison and purchasing marketplace. Going 'interactive' online in July 1995 was the result of more than a year's efforts in programming, nationwide licensing, and contracting with multiple insurance companies.
Many of the nation's insurance companies were initially reluctant to allow their products to be sold on this 'unproven' commerce platform. QuickQuote had to convince them to try this new distribution channel, thus paving the way for all of the insurance shopping Web sites found on the Internet today. Over eight years later in 2003, experts predict Internet insurance sales to soar to $7 billion within the next five years!
It was a pioneering spirit from which this innovative method to shop for insurance began. The Internet had just begun to take shape as a potential network for worldwide commerce and information. Being the first or our kind, QuickQuote was designed and developed from scratch ... a true original. The company soon blossomed into a consumer's dream ... a simple, painless way to compare and purchase insurance without the hassles of meeting with an agent.
In the News
With much anticipation, the Web site was launched and the sales began to slowly appear. Business picked up once the press noticed the company and endorsed the concept.
On September 6, 1996, the New York Times featured QuickQuote, and one of its customers, on the front page of its 'Money & Business' Section. The Times stated, 'So far, the number of Internet shoppers is small, probably no more than a few thousand. But relatively young people ... who are already comfortable with the Internet as a resource for information or retail sales, are starting to turn to it for insurance needs as well.'
In December 1996, Fortune magazine also featured QuickQuote in one of that publications earliest feature stories on the Internet titled ' The Birth of Digital Commerce.... It stated 'The wave of the future is new kinds of brokers, like QuickQuote...that carve niches by bringing sellers and buyers together in novel ways.' QuickQuote was in good company. Other Web sites, which Fortune's 1996 article noted as pioneers in their respective industries, included Amazon.com, Auto-by-Tel and Onsale.
Consumer-focused Innovation
Since 1995, a number of publications, such as Money, Parents, Kiplinger's, Business Week, Smart Money, Parade, and The Web magazines have cited QuickQuote for its consumer-oriented approach to life insurance distribution. In fact, the consumer has always been the focus of QuickQuote's efforts.
In 1996, while other insurance Web sites were directing potential customers to 'give them a call' in order to obtain quotes, QuickQuote's Web site was allowing them to generate their own quotes online.
In 1997, while other insurance sites were offering the consumer a 'database dump' of whatever price quotes they had on hand for their age group, QuickQuote's Web site was quoting 'customized' rates based on the consumer's age, height, weight, health conditions and background.
QuickQuote's development of the Internet's first insurance comparison system to use underwriting guidelines to produce price quotes allows consumers to see insurance premiums for which they could actually qualify. Other insurance Web sites may show lower quotes up front, but the consumer does not always qualify for those rates once their application has gone through underwriting.
In 1999, QuickQuote moved ahead with even more innovations on the Internet. With the debut of a newly-designed Web site in March 1999, QuickQuote added more insurance carriers, different types of life or health insurance products, an audio library of insurance data, automatic e-mail notices to applicants regarding the underwriting process and even more accuracy from its term life comparison system.
Moving Forward
In May 2002, QuickQuote.com launched its fifth major Web site renovation in seven years. The "new" site showcased a complete graphic re-design, the addition of "small group" health insurance products, a new customer account management system, new insurance carriers and more streamlined navigation. The site's new graphic design featured a bright yellow, orange, and blue color palette, standardized page layouts and menus as well as the new QuickQuote logo.
Nonetheless, with all these developments, QuickQuote continues to insist on quality products and behind-the-scenes service for its customers. QuickQuote offers only the top-rated insurance carriers in the U.S ... at least 'A-rated' or better by the A.M. Best Rating Service. QuickQuote employs licensed Insurance Professionals who understand the industry and customer concerns.
QuickQuote is also one of the few Internet-based insurance brokerages to have its own Case Management department. This means a customer's insurance application is monitored daily as it goes through the underwriting process by QuickQuote's own staff...a value-added level of service not available through many other insurance Web sites.
In September 2003, QuickQuote launched a revised term life quoting system designed to provide, faster more accurate quotes. Five new term life companies were added to the offering, bringing the total to 30 companies. This group includes many of today's most competitive, A-rated or better companies.
Other changes incorporated with the release of the new term life quoting system include a new customer account management section which allows customers to manage their personal information, view past quotes, and view the status of pending application real-time. The status update feature is linked to QuickQuote's own back-office processing system to provide up-to-the-minute application status.
Ownership Change
QuickQuote's history took a big step forward in August 1999 when the company was purchased by the world's 10th largest corporation, the ING Group of Dutch origin. The ING Group is a global, financial institution, active in the field of insurance, banking and asset management in more than 60 countries with almost 90,000 employees.
In 2003, ownership of QuickQuote shifted from ING to members of QuickQuote's management team. QuickQuote remains a privately-held corporation to this day. The company's commitment of providing a fair, honest, and unbiased insurance marketplace for its customers remains the focus of the organization. As always, the company strives to remain the industry leader in innovation and customer service.
To that end, industry experts have recognized QuickQuote's expertise and reputation for customer service. Smart Money has rated QuickQuote #1 for "Web Site Resources" and "Customer Service", Gomez Advisors (Gomez.com) has listed QuickQuote in the Top 5 Insurance Marketplaces, and Forbes magazine has named QuickQuote one of its "Forbes Favorites" in its "Best of the Web" listing.
While we're proud of our accomplishments, we look forward to completing many more chapters of "The QuickQuote Story" in years to come.
