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Quotesmith.com Announces Expansion of Health Insurance Offerings to 110 Companies

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 12/09/2002


Quotesmith.com Announces Expansion of Health Insurance Offerings to 110 Companies; Largest Selection of Health Plans in One Place Delivers New Ease and Convenience to Online Insurance Shoppers

Expanded company listings plus new site enhancements cut shopping time by hours and guarantee presentation of the lowest available price

 

DARIEN, IL (December 9, 2002) -- Quotesmith.com (NASDAQ: QUOT), the only place on earth where you can get instant auto, life and health insurance quotes from more than 300 companies, today announced that it has expanded its coverage of the health care insurance markets and is now providing comparative quotes for 110 companies nationwide.

For beleaguered health insurance shoppers, Quotesmith.com believes that it has an online solution that is both powerful and easy to use. The economic climate for health insurance shoppers is now more hostile than it has been in the last five years. Rocked by high unemployment rates, staggering costs of maintaining COBRA coverage, the threat of war, employment insecurities, and rapidly escalating health insurance premiums in general, record numbers of uninsured people are now faced with the daunting task of shopping for health insurance.

Commenting on the significance of this expansion, Quotesmith.com founder and CEO, Robert Bland, remarked, "Shopping for health insurance has just become a lot simpler and faster now that we're quoting 110 leading companies. We've made it fast and easy for individuals, families and small businesses to comparison-shop for health insurance at www.quotesmith.com. Reaching this milestone helps us provide a smooth customer experience, even for people who have never purchased health insurance online before."

Quotesmith.com provides instant quotes across a wide range of health insurance plans, including traditional plans, hospital indemnity plans, short-term medical, HMOs, PPOs, Blue Cross and Blue Shield plans and, in certain states, plans for high risk individuals who cannot obtain coverage in the standard markets. Visitors to the company's Web site can make quick comparisons of health plan coverages and prices, and are free to purchase health insurance from the company of their choice.

Quotesmith.com supports its Internet-based insurance shopping site by providing customers with toll-free care and advice through salaried agents who are licensed and knowledgeable about health insurance. Quotesmith.com makes it easy for people to understand that quality health insurance is often affordable and readily available.

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 news, information and decision-making tools that are not available from any other single source. Insure.com plays home to more than 3,000 originally authored articles on insurance that are all indexed and searchable by subject. Visitors to the Company's Web sites are able to obtain instant quotes from more than 300 leading insurers for twelve different product lines, 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, 2001, and the Company's Quarterly report on Form 10-Q for the quarter ended September 30, 2002, both of which are on file with the United States Securities and Exchange Commission.

Quotesmith.com, Inc. dba Quotesmith.com Insurance Services in CA under agent #8027712, #OA13858; UT #90093. Quote availability by state or any other factor is subject to change without notice. Quotesmith.com, insure.com, and QuotesmithPro are service marks of Quotesmith.com, Inc. All other names are trademarks of their respective owners. Copyright 2002. 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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