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COLUMBUS,
OH – May 15, 2000
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Pivot (www.pivot.com),
a subsidiary of Bankrate, Inc. (NASDAQ: ILIF) and a leading provider of B2B Internet
insurance solutions, today announced it has partnered with American International
Group Inc. (AIG) offering worker's compensation, general and professional
liability insurance quotes for small business owners. "AIG
is an Internet pioneer in the property and casualty insurance arena," said
Christopher Heidrick, Vice President of P&C Operations at Pivot. "AIG
will certainly be an impressive addition to our interactive portfolio of insurance
providers." Adding
AIG to Pivot’s Web site means that the site now offers term life, permanent
life insurance, annuities, auto insurance, motorcycle insurance, homeowner’s
insurance and small business insurance – including property and general liability,
worker’s compensation, international coverage and professional liability
insurances – in nearly every state in the country. "With
the addition of AIG to Pivot’s family of providers, we are closer to the
reality of Pivot being a one-stop shop for both consumers and businesses,"
added Heidrick. "Pivot’s competitive products and industry-leading providers
will help us build lasting relationships and will allow us, and all of our partners,
to achieve a diverse and loyal basis of consumers who will repeatedly turn to
us for their insurance needs." About
AIG
AIG is the leading U.S.-based international
insurance organization and the largest underwriter of commercial and industrial
insurance in the United States. Its member companies write property, casualty,
marine, life and financial lines insurance in approximately 130 countries and
jurisdictions, and are engaged in a range of financial services and investment
management businesses. American International Group, Inc.'s common stock is listed
on the New York Stock Exchange, as well as the stock exchanges in London, Paris,
Switzerland and Tokyo.
About Pivot
Pivot, a subsidiary
of Bankrate, Inc. and headquartered in Columbus, OH, has teamed up with industry-leading
insurance companies to provide turnkey insurance solutions to businesses. Pivot
offers insurance companies, banks, large agencies and affinity groups a means
of increasing their revenues through a variety of partnership possibilities. Pivot’s
nationally licensed fulfillment services utilize the Internet and telephone as
a means of generating leads and managing current business opportunities while
eliminating channel conflict. Because the agency is licensed nationally, Pivot’s
insurance services are available to consumers and businesses nationwide. Examples
of Pivot’s functionality include enabling consumers to quickly and easily
apply for insurance via the fully interactive Pivot Web site, www.pivot.com.
Pivot
also operates a fulfillment and inbound call center employed with fully licensed
agents. Pivot’s efficient marketing capabilities have enabled the agency
to be selected as the fulfillment arm for various third party marketing arrangements.
About Bankrate, Inc.
Bankrate, Inc. (Nasdaq: RATE) owns and operates Bankrate.com, the Internet's leading consumer banking marketplace. Bankrate.com averages 4 million unique visitors per month, according to comScore Media Metrix, which ranks Bankrate.com first in unique visitors in the "Financial information and advice" category. Bankrate.com reviews more than 4,800 financial institutions in more than 180 markets in 50 states. Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes and small business finance. It is the leading aggregator of more than 190 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees.Bankrate.com provides financial applications and information to a network of more than 80 partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE: AOL), The Wall Street Journal (NYSE: DJ) and The New York Times (NYSE: NYT). Bankrate.com's information is also distributed through more than 100 national and state publications. The Company’s stock is included in the Russell 3000 Index and the Russell 2000 index. |
