QuinStreet Rating Platform (QRP) Gains Momentum in the Insurance Marketplace
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 respons 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
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