FOSTER CITY, Calif.,
Nov. 19, 2020 /PRNewswire/
-- QuinStreet, Inc., (Nasdaq: QNST) a leader in performance
marketplace products and technologies, announced today significant
progress in its QuinStreet Rating Platform (QRP) business and
expansion into the home insurance rating marketplace.
Introduced in December 2019, QRP
is a ground-breaking and intuitive rating platform empowering
insurance agencies to better service customers while streamlining
management of their businesses. Since its launch, QRP has been
strongly embraced by auto insurance carriers and agencies, with
many reporting that time to quote and bind a policy has decreased
by 30% or more. Seventeen large regional and national agencies,
with more than 4,000 agents, have signed contracts and are in live
production or are in the process of launching QRP. Quotes delivered
to agents through QRP have grown dramatically, with an increase of
more than 15 fold since March
2020.
QRP is designed to solve a serious pain point in the insurance
marketplace. Currently, insurance agents often use up to three
different systems to generate insurance quotes from multiple
carriers for one prospective customer, with additional systems and
workflow required to actually bind a policy for that
customer. Today's large agencies must be more efficient to
meet the needs of their busy customers, especially those engaged on
the phone and in virtual settings. Juggling between systems that
don't communicate well is problematic, leading to long wait times,
poor customer service and missed opportunities for agencies. QRP
can also enable agencies with a full online end-to-end bind
experience for their customers.
Created to solve these inefficiencies in the current insurance
market, QRP allows agents to manage their entire workflow in one
place, with one centralized platform that is fast and scalable.
It uniquely enables insurance agents to pull
rates from multiple major carriers in real time and permits
them to bind policies seamlessly in the same work session. This
significantly speeds up the sales process and provides better
service for consumers.
QuinStreet is building on QRP's momentum and announces today
that QRP is now commercially available for home insurance agencies,
as well as auto insurance agencies. Personal lines agents can now
access rates from multiple major home insurance carriers in real
time and seamlessly bind policies in all 50 states, dramatically
accelerating the sales process and facilitating improved service to
consumers.
"Client response to QRP has been excellent, prompting us to
further invest in building new features and scale our sales and
marketing efforts," says Andreja
Stevanovic, senior vice president and head of insurance for
QuinStreet. "We anticipate similarly positive results as we begin
to serve the home insurance marketplace."
"The early pipeline momentum and success of QRP's initial
customers is encouraging, and we anticipate adding to those
positive results as we begin to serve the home insurance
marketplace," says Doug Valenti,
QuinStreet's chief executive officer. "We are confident that QRP
will deliver dramatic efficiencies in insurance agency work
environments while continuing to improve customer
satisfaction."
QRP is adaptable, able to connect with other third-party
customer relationship management (CRM) software, and supports
customer acquisition and leads. More information on pricing and
other details can be obtained by contacting to the QRP business
development team at:
https://www.quinstreet.com/our-products/qrp
About QuinStreet, Inc.
QuinStreet, Inc.
(Nasdaq: QNST) is a leader in providing performance
marketplace technologies and services to the financial services and
home services industries. QuinStreet is a pioneer in delivering
online marketplace solutions to match searchers with brands in
digital media. The company is committed to providing consumers with
the information and tools they need to research, find and select
the products and brands that meet their needs.
Legal Notice Regarding Forward Looking Statements
This
press release and its attachments contain forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934 that involve risks and uncertainties.
Words such as "estimate", "will", "believe", "expect", "intend",
"outlook", "potential", "promises" and similar expressions
are intended to identify forward-looking statements. These
forward-looking statements include the statements in quotations
from management in this press release, as well as any statements
regarding the Company's anticipated financial results, growth and
strategic and operational plans. The Company's actual results may
differ materially from those anticipated in these forward-looking
statements. Factors that may contribute to such differences
include, but are not limited to: the impact from risks and
uncertainties relating to the COVID-19 pandemic; the impact of
changes in industry standards and government regulation including,
but not limited to investigation or enforcement activities of the
Federal Trade Commission and other regulatory agencies; the
Company's ability to maintain and increase client marketing spend;
the Company's ability, whether within or outside the Company's
control, to maintain and increase the number of visitors to its
websites and to convert those visitors and those to its third-party
publishers' websites into client prospects in a cost-effective
manner; the impact from risks relating to counterparties on the
Company's business; the Company's ability to compete effectively
against others in the online marketing and media industry both for
client budget and access to third-party media; the impact of
changes in our business, our industry, and the current economic and
regulatory climate on the Company's quarterly and annual results of
operations; the Company's exposure to data privacy and security
risks; and the Company's ability to protect our intellectual
property rights. More information about potential factors that
could affect the Company's business and financial results are
contained in the Company's annual report on Form 10-K and quarterly
reports on Form 10-Q as filed with the Securities and Exchange
Commission ("SEC"), including the Company's quarterly report on
Form 10-Q for the quarter ended September
30, 2020 filed with the SEC on November 6, 2020. The Company does not intend and
undertakes no duty to release publicly any updates or revisions to
any forward-looking statements contained herein.
LinkedIn: https://www.linkedin.com/company/quinstreet
Media Contact
SSPR for QuinStreet
Alise Murawski
719-630-5052
QuinStreet@sspr.com
View original
content:http://www.prnewswire.com/news-releases/quinstreet-rating-platform-qrp-gains-momentum-in-the-insurance-marketplace-301176575.html
SOURCE QuinStreet, Inc.