Taking insurance to the bank

Article Abstract:

Intuit Inc and Essex Corp have teamed up to sell insurance via an Internet-based system for banks that will allow them to provide insurance products to customers through several selling channels. The system, designed by Interactive Insurance Services Corp, permits bank customers to receive term life rate quotes from several insurance companies. It includes an online transaction tracking feature and a reference library. However, the companies face competition from InsWeb Corp, an online insurance site that offers several types of insurance plans.

Commercial Banks, Commercial Banking, Electronic computers, Computers, Electronic Computer Manufacturing, Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Insurance agents, brokers, & service, Insurance Agents & Services, Agencies, Brokerages, and Other Insurance Related Activities, Computer industry, Services, Marketing, Insurance industry, Information management, Insurance policies, Intuit Inc., INTU, Essex Corp., InsWeb Corp., ESEX

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ISO looks to technology; the task is to use changing technology to wring new revenue opportunities

Article Abstract:

Insurance Services Office (ISO) Inc's decision to become a for-profit company was influenced by insurance industry trends such as consolidation, specialization which has resulted in the formation of niche markets, and the pressure to curtail underwriting and claims costs. ISO seeks to become the ultimate source of casualty/property insurance information. It is also aiming at developing new markets by catering to underutilized products and services and by creating more comprehensive databases.

Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Surety insurance, Insurance Mgmt-Property & Casualty, Usage, Information technology, Property and casualty insurance, Information services, Property and casualty insurance industry, Insurance Services Office Inc.

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