May 24, 2000
The following press release includes information about content, features, products, partnerships or other company news about QuickQuote Financial, Inc. or the QuickQuote.com Website as of the date of the press release. Such information may or may not be currently applicable to QuickQuote Financial, Inc. or the QuickQuote.com Web site.
FOR IMMEDIATE RELEASE
Incline Village, NV - With a goal to provide the most accurate term life insurance rate quotes possible on the Internet, the QuickQuote™ Insurance Agency, Inc., has debuted the newest version of its comparison system at https://www.quickquote.com.
The new version asks more specific questions about an applicant's medical background. This information is sent to QuickQuote's newly-enhanced database which sorts the data provided and matches that customers personal profile more accurately with a multiple of insurance carriers' policy requirements.
"One of the biggest problems we've seen with term life insurance quoting services in general, is they don't ask enough medical questions to the givethe potential applicant an accurate rate quote. That person may spend weeks waiting for the underwriting process to find out later he or she can't qualify for the original (lower) rates quoted due to a medical condition that was undisclosed during the original quotation/application process."
This means the person must then pay a higher insurance premium rate, or start all over to obtain new quotes from a different insurance carrier, thus wasting much time and energy and delaying their ability to be insured.
"Our previous comparison engine was between 70-80% accurate on providing the client with a rate quote he/she could eventually qualify for," saidDaniel P. Wager, president of QuickQuote. "This new version gives closer to 90% accuracy on rate quotes."
According to Wager, reaching 100% accuracy is nearly impossible for any agency quoting fully underwritten life insurance policy rates. The reason is there's always a percentage of the population who is unaware of a medical condition that's discovered during the medical exam conducted by the earner.
QuickQuote's Web site is a fully encrypted, secure site which operates on a Netscape Commerce Server. Browsers to the site may generate quotes without entering their name or address. However, that information is required to submit an application for insurance.
QuickQuote is headquartered in Incline Village, NV. The agency was the first to provide an interactive insurance comparison system on the Internet in 1995.