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Quotesmith.com Selected by Superior Access Insurance Services to Power Online Life Insurance Offering for 8,000 Insurance Agencies

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 06/03/2003


Quotesmith.com Selected by Superior Access Insurance Services to Power Online Life Insurance Offering for 8,000 Insurance Agencies

 

DARIEN, IL (June 3, 2003) -- Continuing on its 19 year heritage of bringing new online tools and information services to insurance shoppers and the professional insurance agent and broker community, Quotesmith.com (NASDAQ SmallCap: QUOT) announced today that it has been selected by Irvine, California-based Superior Access Insurance Services, Inc. to power an online life insurance offering for Superior's 8,000 retail insurance agencies. Terms of this agreement were not disclosed.

"QuotesmithPro was a natural choice for us when it came to forging a life insurance alliance," said Richard Swoy, Chairman of Superior Access. "For busy brokers, QuotesmithPro eliminates the drudgery of having to deal with outdated desktop systems and multiple company Web sites by providing a fast, single-entry platform that's easy to use and second to none in terms of routing life insurance orders in a fast and accurate way. No doubt about it, any Superior Access member broker who uses this new system will experience a competitive advantage."

"We are delighted to be powering the life insurance offerings at Superior Access," said Quotesmith.com chairman and CEO, Robert Bland. "As a result of this alliance, Superior Access producers will now be able to compare the rates of over 90 leading life insurance companies in seconds, prepare customer-ready proposals on demand, route purchase orders to the company of their choice and receive full selling commissions on every sale. This agreement is particularly exciting to us because it gives us an immediate gateway into 8,000 agencies."

QuotesmithPro is a revolutionary new, Web-based life insurance point-of-sale illustration service and order routing pipeline designed to help insurance professionals improve productivity and enhance relationships with clients.

About Superior Access

Superior Access is a privately held, business-to-business, professional services and Internet software development company, based in Irvine, California. Superior Access also provides online insurance quotes and wholesale brokerage services to more than 8,000 retail insurance agents across the nation. Superior Access has forged strategic alliances with many of the world's leading insurance companies.

About Quotesmith.com

Founded in 1984, Quotesmith.com owns and operates two comprehensive online consumer insurance information services, www.insure.com and www.quotesmith.com. Catering to self-directed insurance shoppers, Quotesmith.com provides a comprehensive array of comparative auto, life and health quotes, combined with information and decision-making tools that are not available from any other single source. Insure.com plays home to over 3,000 originally authored articles on various insurance topics that are searchable by subject. Visitors to the Company's Web sites are able to obtain instant quotes from more than 300 leading insurers, achieve maximum savings and have the freedom to buy from any company shown. Quotesmith.com also provides personalized insurance brokerage and policy placement services for its customers. Shares of Quotesmith.com trade on the Nasdaq SmallCap Market under the symbol "QUOT."

Cautions about Forward-Looking Statements

 

This announcement may contain forward-looking statements that involve risks, assumptions and uncertainties pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. This announcement also contains forward-looking statements about events and circumstances that have not yet occurred and may not occur. These forward-looking statements are inherently difficult to predict. Expressions of future goals and similar expressions including, without limitation, "intend," "may," "plans," "will," "believe," "should," "could," "hope," "expects," "expected," "does not currently expect," "anticipates," "predicts," "potential" and "forecast," reflecting something other than historical fact, are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Investors should be aware that actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. Reported Web site activity and/or quotes are not necessarily indicative of any present or future revenue. The Company will not necessarily update the information in this press release if any forward-looking statement later turns out to be inaccurate. Potential risks and uncertainties include, among others, Quotesmith.com's ability to successfully launch and realize revenues from new products and services, potential business risks associated with generating revenues from the insure.com platform, anticipated losses, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risks of system interruption, the evolving nature of its business model, the increasingly competitive online commerce environment, dependence on continuing growth of online commerce and risks associated with capacity constraints and the management of growth. More information about potential factors that could affect the Company's financial results are included in the Company's Annual Report on Form 10-K for the year ended December 31, 2002, which is on file with the United States Securities and Exchange Commission. Quotesmith.com, insure.com, LTCompare and QuotesmithPro are service marks of Quotesmith.com, Inc. All other names are trademarks of their respective owners. Copyright 2003. All rights reserved. Quotesmith.com, Inc.

SOURCE Quotesmith.com, Inc.

 

CONTACT: Bill Thoms, Executive Vice President, (630)515-0170, ext. 202, bthoms@quotesmith.com

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