InsWeb
Encyclopedia
InsWeb Corporation operates an online insurance
marketplace designed to allow consumers to compare insurance products and rate quotes from a variety of providers.
InsWeb does not provide insurance directly. The company connects consumers with multiple providers via a proprietary online technology platform. Customers receive price quotes for the various insurance products they choose and are contacted by outside insurance agents and/or companies to continue the purchasing process. In conjunction with the consumer-facing insurance quote system, they also operate a lead generating site as a marketing source for insurance agents.
in 1999. InsWeb created the first online insurance marketplace. InsWeb.com was the first website that allowed a user to receive multiple insurance quotes from multiple providers by filling out a single form.
In the 4th quarter of 2010, InsWeb acquired Protreo Media Corporation.
InsWeb has invented multiple e-commerce and online insurance distribution technologies and owns the following
patents:
6,898,597,
7,107,325 ,
7,389,246 ,
7,640,176,
7,707,505.
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
marketplace designed to allow consumers to compare insurance products and rate quotes from a variety of providers.
InsWeb does not provide insurance directly. The company connects consumers with multiple providers via a proprietary online technology platform. Customers receive price quotes for the various insurance products they choose and are contacted by outside insurance agents and/or companies to continue the purchasing process. In conjunction with the consumer-facing insurance quote system, they also operate a lead generating site as a marketing source for insurance agents.
History
InsWeb was founded in 1995 by Hussein A. Enan and Darrell Ticehurst and became a publicly traded companyPublic company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
in 1999. InsWeb created the first online insurance marketplace. InsWeb.com was the first website that allowed a user to receive multiple insurance quotes from multiple providers by filling out a single form.
In the 4th quarter of 2010, InsWeb acquired Protreo Media Corporation.
InsWeb has invented multiple e-commerce and online insurance distribution technologies and owns the following
patents:
6,898,597,
7,107,325 ,
7,389,246 ,
7,640,176,
7,707,505.
Awards and recognitions
InsWeb has been recognized by several prominent publications since its founding including:- Kiplinger (2009)--"Best Auto Insurance Website"
- Kiplinger (2008)--"Best Auto Insurance Website"
- Kiplinger (2007)--"Best Auto Insurance Website"
- Forbes (2007)--"Best of the Web" and "Forbes' Favorite"