Quotesmith.com Releases Top Ten Most Popular Term Life Companies for November
Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 12/1/1999
Quotesmith.com Releases Top Ten Most Popular Term Life Companies for November
DARIEN, Ill., Dec. 1 /PRNewswire/ -- Quotesmith.com, Inc. (Nasdaq: QUOT), the Internet's preeminent insurance marketplace and the only place on earth that provides instant quotes from over 300 leading companies, announced today the top-ten most popular term life companies requested through the Quotesmith.com insurance price comparison service in November.
John Hancock Variable Life has moved to first place, replacing First Colony Life as the number-one most requested term life company. First Colony Life held the top spot for the prior nine months. Banner Life, West Coast Life and Midland Life placed third, fourth and fifth, respectively, in November's rankings.
Most Popular Term Life Companies
John Hancock Variable Life 1 2
First Colony Life 2 1
Banner Life 3 3
West Coast Life 4 5
Midland Life 5 4
First Penn-Pacific Life 6 6
Transamerica Occidental Life 7 7
American Mayflower Life of NY 8 8
Protective Life 9 9
Valley Forge Life 10 10
"These top ten term life insurance companies are providing great values for insurance shoppers at Quotesmith.com. It's interesting to note that both John Hancock Variable Life and First Colony Life have earned the coveted and highest "A++" (Superior) rating by A.M. Best Co. To us, this shows that astute insurance shoppers are as concerned about quality as they are about price, even as new term life regulations loom ever closer. On Jan. 1 most states will adopt a new life insurance regulation known as 'Guideline XXX.' According to some industry observers, Guideline XXX, when enacted by each state, may have the effect of causing higher premium rates or fewer rate guarantee choices, or both. While Guideline XXX will not affect any life insurance already in place, policies purchased before Jan. 1 will be locked in and frozen," said Robert Bland, Chairman and CEO of Quotesmith.com.
The list reflects November and October insurance shopper requests for individual term life coverage through the Quotesmith.com insurance price comparison service on a national basis.
Quotesmith.com has recently received a number of plaudits. On November 29, 1999, Gomez Advisors awarded Quotesmith.com its No. 1 Bargain Hunter Internet insurance site category ranking. In referring to the enormous number of participating insurance companies at Quotesmith.com and the time-saving convenience of having all of this information in one place, the November 22, 1999 edition of BusinessWeek called Quotesmith.com a "top site" while the November 15, 1999 edition of U.S. News and World Report stated that Quotesmith.com " ...excels at comparing prices and terms from many firms."
Quotesmith.com is the Internet-based insurance price comparison service that allows consumers to save money by obtaining instant, guaranteed-accurate quotes from over 300 leading insurance companies.
Founded in 1984 as Quotesmith Corporation, Quotesmith.com owns and operates the largest and most comprehensive insurance price comparison service in America. In addition to providing the widest selection of instant insurance quotes available from any single source, the Quotesmith.com site also allows visitors to purchase insurance from the company of their choice. Quotesmith.com provides complete quote-to-policy-delivery customer service through the use of insurance-experienced, in-house, salaried representatives.
The Company provides up-to-the-day accurate quotes, including vital policy coverage and reference information, for several lines of insurance including auto, life, comprehensive medical, short term medical, group medical, dental, Medicare supplement, watercraft, RV and annuities. The Company's Web site allows insurance shoppers to instantly navigate the U.S. insurance market with confidence and clarity and to buy from the company of their choice.
Now available to residents of all 50 states, the Quotesmith.com insurance information service also provides useful reference tools and educational material to assist insurance shoppers. A typical Quotesmith.com quote comes complete with two full pages of policy coverage and reference information, including published underwriting guidelines, in order to take consumer education to the max. Another unique feature is that every Quotesmith.com term life quote also shows the latest independent ratings from A.M. Best, Duff & Phelps, Moody's, Standard & Poor's and Weiss Ratings, Inc.
Quotesmith.com is committed to providing the most comprehensive and useful insurance information experience on the Internet. The Company electronically collects consumer demand for coverage and rapidly communicates such demand directly with insurance companies in an efficient manner. The Quotesmith.com service empowers insurance buyers with near-perfect market information which is instant, easy to use, up-to-the-day accurate and not available from any other single source.
As detailed at www.quotesmith.com, the Company offers two unique guarantees: View the lowest term life premiums in America or receive a $500 cash reward plus every quote is guaranteed accurate or receive a $500 cash reward. The Company's average daily quote volume has been growing rapidly recently. During peak times the Company often processes one quote request every four seconds.
Quotesmith.com completed a $63 million initial public offering in August 1999. The Company's shares trade on the Nasdaq Exchange under the symbol "QUOT". Intuit Inc. owns approximately 7 percent of the outstanding stock of Quotesmith.com, Inc.
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 may also contain forward-looking statements about events and circumstances that have not yet occurred and may not occur.
Expressions of future goals and similar expressions including, without limitation, "may," "will," "believes," "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 limited e-commerce operating history, 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 is included in the company's final prospectus dated August 3, 1999, as filed with the United States Securities and Exchange Commission.
This communication appears as a matter of information only and is not an insurance solicitation. Accordingly, no employee of Quotesmith.com, Inc. is recommending or endorsing any specific insurance company, coverage or policy type within this communication. Some insurance companies appear at Quotesmith.com for purely informational purposes only and pay no compensation to Quotesmith.com and some insurers pay commissions or fees to Quotesmith.com based upon premium volume or traffic activity produced by Quotesmith.com. Quotesmith.com is not an agent for all insurers shown at www.quotesmith.com. Quote availability by state of residence or any other factor is subject to change without notice. $500 lowest price cash reward not available for residents of South Dakota.
Quotesmith.com is a service mark of Quotesmith.com, Inc. All other names are trademarks of their respective owners.
SOURCE Quotesmith.com, Inc.
CONTACT: Willard Hemsworth II of Quotesmith.com, 630-515-0170, ext. 213, or firstname.lastname@example.org/