SANTA CLARA, Calif. -- April 7, 1998 -- Finding the right insurance plan for all of life's situations is a challenge - the options are almost limitless. But starting today, Yahoo! makes the insurance hunt easier with the launch of Yahoo! Finance's Insurance Center, featuring content from InsWeb, the world's most comprehensive Internet insurance marketplace. The new insurance center allows visitors to save time by offering convenient comparison shopping among multiple brand-name insurance carriers and to easily research insurance options. Individuals can reach the insurance center at (http://insurance.yahoo.com) or through Yahoo! Finance (http://quote.yahoo.com), Yahoo!'s comprehensive Web resource for personal finance and investing information.
"We continue to expand Yahoo! Finance's personal finance areas by teaming up with leading companies such as InsWeb to provide users comprehensive resources for everyday financial issues, such as insurance, loans, investing and taxes," said Mike Riley, producer for Yahoo! Finance. "With the Yahoo! Finance Insurance Center, users now have a quick and simple way to research different insurance options and find the one that best suits their situation."
Growing Insurance Market
According to A.M. Best, the market for personal lines of insurance is a $240 billion industry. Of the approximately 100 million households in the country today, most will make an insurance decision in any given year. Additionally, a February 1998 survey by Booz-Allen & Hamilton showed that 76 percent of insurance carriers say their consumers wanted quotes online. Sixty percent of those carriers also said their consumers want to purchase insurance online. Yahoo! Finance's Insurance Center brings together the tools and resources to help meet the growing demand for insurance services on the Web.
"Working with Yahoo! to create the insurance center allows us to further expand the reach of our content and services to Yahoo!'s millions of visitors every day," said InsWeb's Mark Guthrie, senior vice president of Internet strategic partnerships. "Combining our strengths offers consumers an easy way to comparison shop and evaluate insurance needs and provides insurance carriers with a vast new audience of targeted insurance buyers."
Yahoo! Finance's Insurance Center highlights features, resources and Web sites for users interested in insurance for a variety of situations. Under the features area, there are categories for homeowners, renters, health, life and auto insurance. Each of the categories offers users the ability to analyze their situation and determine their insurance needs as well as get answers for questions related to the category. Through Yahoo! and InsWeb, individuals can also do comparison shopping by filling out a single form to receive quotes from multiple companies on a wide range of auto, life and health insurance products. For people just beginning their insurance search, the new center also features a general insurance FAQ as well as insurance-related articles highlighting news and advice for finding the ideal plan. Yahoo! Finance's Insurance Center is also integrated into Yahoo! Classifieds' (http://classifieds.yahoo.com) real estate and autos areas.
InsWeb, located at www.insweb.com, is the world's largest and most comprehensive Internet insurance marketplace. InsWeb simplifies the insurance purchasing process by enabling individuals to fill out a single form to receive quotes from multiple companies on a wide range of auto, life and health insurance products. Consumers can also use InsWeb's research and analysis tools to evaluate their insurance needs. For insurers, InsWeb helps companies tap the rapidly growing Internet marketplace and provides technology that can significantly reduce the cost of processing applications, administering policies and maintaining a Web site. InsWeb is headquartered in San Mateo, Calif.
Yahoo! Inc. (NASDAQ:YHOO) is a global Internet media company that offers a network of branded Web programming that serves millions of users daily. As the first online navigational guide to the Web, www.yahoo.com is the single largest guide in terms of traffic, advertising, household and business user reach, and is one of the most recognized brands associated with the Internet. Yahoo! Inc. provides targeted Internet resources and communications services for a broad range of audiences, based on demographic, key-subject and geographic interests. Yahoo! is headquartered in Santa Clara, Calif.