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QuickenInsurance
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QuickInsurance: The Race to Click and Close Steven Aldrich creator of an online insurance.com portal in July 1995, made a tough decision to sell his company to Intuit, Inc for $10 million, and also made a transition to become Quicken.com general manager. The reason Aldrich sold Quicken Insurance to Intuit was because he was having problems convincing insurance carriers to join his services, but selling the company to Intuit’s which is well known and well respected brand will dramatically increased the company’s credibility with both suppliers and customers and it enabled his firm to dramatically reduce the cost of driving traffic to the QuickenInsurance site. During the slow growth of the online industry for insurance purchases, there were three factors that kept the online insurance business with a disadvantage. They were that it was too complex for consumers to purchase online, insurance was purchased infrequently and it had a restrictive regulatory environment hampered the entry of independent online marketplace.
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