May 7, 2002
ComparisonMarket, Inc. Expands Product Offerings, Announces Three New Alliances
NEWTON, MA - May 7, 2002 - ComparisonMarket, Inc. today announced three alliances that offer customers access to extended warranty protection for automobiles, travel insurance for U.S. residents, and pet health care insurance. The deals were signed with Warrantybynet.com, WorldTravelCenter.com(sm) from Insuractive® and Veterinary Pet Insurance.
With the addition of these new policy types, Insurance.com, owned and operated by ComparisonMarket, now provides access to 11 categories of coverage, including auto, home/renter, health, life, long-term care, motorcycle/ATV, recreational vehicle, and watercraft insurance.
"Insurance.com provides access to competitively priced, top-quality products as well as online information to help consumers make informed purchase decisions for their insurance needs," said ComparisonMarket CEO Dave Roush. "The addition of these new products strengthens Insurance.com's position as a comprehensive resource for researching and buying insurance."
Extended warranties take over where the auto manufacturers' warranties leave off, covering service and repairs. Through its new arrangement with Warrantybynet, Insurance.com now offers access to warranties for anyone buying a new or pre-owned vehicle, including coverage for all makes and models of cars, trucks, motorcycles and sport utility vehicles. Each service contract also provides a membership in Warrantybynet's 24-hour roadside assistance program, which lasts for the life of the policy.
As people begin to travel again, many are looking to protect themselves while they are away from home. Travel insurance covers a variety of possible situations unique to travel, whether extending adequate medical coverage to an overseas traveler or protecting the cost of a trip in the event the cruise line or airline goes out of business. Through WorldTravelCenter.com, Insurance.com offers access to 23 travel insurance plans from nine different providers, protecting U.S. residents who travel both domestically and abroad.
"With so much attention on travel concerns, we're pleased to provide policies that can help mitigate some of the most common problems consumers experience when traveling," said Roush. "With WorldTravelCenter, Insurance.com can make a wide range of policies and information available for consumers to secure the appropriate insurance coverage and make it easier to relax during a trip."
While both the warranty and travel insurance offerings help protect customers on the road, the new Veterinary Pet Insurance policies are designed to help animal companions at home. Americans are expected to spend more than $7.7 billion for pet health care in 2002. A pet health insurance policy can help defray costs when an animal becomes ill, injured or elderly and veterinary costs begin to rise. As the nation's oldest licensed pet medical insurance plan, Veterinary Pet Insurance policies cover more than 6,400 medical conditions for a wide range of animals, including dogs, cats, rabbits, birds, snakes, mice and many more. Policies are available in all 50 states and pet owners can seek veterinary care worldwide. Customers interested in pet insurance will be able to get free quotes and purchase coverage by calling Insurance.com's toll-free customer service line.
Roush noted that Insurance.com plans to continue expanding its educational content and increasing to the availability of products that allow customers to act on their research. "Once someone has determined what their insurance needs are," he said, "we'll be there to help find the coverage that best fits the situation."
Warrantybynet is a leading online provider of extended warranties for both new and pre-owned cars, trucks, SUV's and motorcycles. The site offers a wide variety of comprehensive, flexible and affordable programs designed to meet the individual needs of customers, and provides free, no obligation price quoting online. The company is located in Brick, N.J.
About Insuractive and WorldTravelCenter.com
WorldTravelCenter.com(sm) is a website and business operated by Insuractive® for the sale of travel insurance and other related products. Insuractive was formed for the purpose of supporting marketing and sales of insurance products on the Internet. Located in Alexandria, Va., Insuractive strives to design and develop the best plan of action for each product it markets.
About Veterinary Pet Insurance
Founded in 1980 by Dr. Jack Stephens with the support of 750 independent veterinarians, Veterinary Pet Insurance (VPI), Brea, Calif., is the nation's number-one medical insurance for dogs, cats, birds, rabbits and other common exotic pets, with over 220,000 policies in force. Exclusively endorsed by American Humane, VPI policies make the miracles of veterinary medicine affordable by covering more than 6,400 medical treatments for accidents and illnesses, with optional coverage available for preventive and routine care. Policies are licensed in all 50 states and the District of Columbia. VPI policies in California are underwritten by Veterinary Pet Insurance Co. of Brea, Calif. Elsewhere, policies are underwritten by National Casualty Co., an A+15 rated company, in Madison, Wis.
ComparisonMarket, Inc., based in Solon, Ohio, owns and operates Insurance.com. The Insurance.com website enables consumers to instantly compare and buy competitive auto insurance quotes directly from any of more than a dozen leading insurance companies. When ready to purchase, users have the option of completing the transaction online or talking directly to an unbiased licensed agent. Other products include life, health and home insurance as well as travel, dental and pet health insurance.
In addition to Insurance.com, ComparisonMarket provides private labeled solutions to financial institutions, affinity groups and online marketplaces to offer their customers real choice and savings opportunities on auto insurance.
Dave Roush, CEO