Strategic alliance brings best-in-class insurance comparison capability to consumers
QuinStreet, Inc. (Nasdaq: QNST), a leader in performance marketplace products and technologies, and NerdWallet, a website and app that provides financial guidance to more than 160 million consumers every year, announce today that NerdWallet has selected QuinStreet to exclusively power its auto insurance marketplace, leveraging QuinStreet’s best-in-class consumer shopping and matching solutions.
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QuinStreet is the leader in digital auto insurance shopping, with more than 10 years of experience matching and connecting auto insurance shoppers with insurance carriers and agents. The company provides access to over 65 national, regional and specialty insurance carriers and a network of approximately 6,000 insurance agents, providing broad choice and options to online insurance shoppers. QuinStreet has expanded its presence in the auto insurance marketplace five-fold over the past six years, now connecting close to 30 million consumers annually to insurance carriers and agents.
Auto insurance is complicated and can be expensive, with car insurance coverage and premiums often varying significantly for a given driver across the insurance industry. Insurance carriers specialize in various consumer segments of the marketplace, setting coverage and rates based on their unique risk assessments of a driver’s location, age, vehicle make and model, accident and citation history, types and amounts of desired coverage, credit history (where allowed) and more.
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Shopping for car insurance and identifying the best coverage and pricing can thus be daunting and costly for drivers. Consumers must determine which protections they want to purchase, what coverage levels are mandated by their state and whether or not they should obtain protection above the minimum required levels. And consumers must figure out which insurance carrier best meets their needs and requirements, with pricing that is right for their individual circumstances.
NerdWallet and QuinStreet collaborated for two years to simplify and enhance the insurance shopping process for NerdWallet consumers. They initially launched a comprehensive shopping experience for NerdWallet community members, with all major auto insurance carriers participating. The companies expanded and customized the experience for the NerdWallet audience to provide a tailored shopping experience for NerdWallet visitors. QuinStreet’s solutions have been instrumental in helping NerdWallet expand its auto insurance business.
QuinStreet and NerdWallet are now further building on their past success and deepening their relationship. The companies are working together to further integrate QuinStreet consumer segmentation and matching capabilities with NerdWallet expertise in user experience and engagement. They are also working on more customization for consumers, working directly with insurance carriers and insurance agents in the QuinStreet client network. The objective is to enable NerdWallet to deliver a truly unique solution that is optimized for its community members.
“QuinStreet’s proven ability to facilitate NerdWallet’s collaboration with large insurance carriers and help developing a customized shopping solution for our audience has been invaluable,” explains Dave Goldberg, NerdWallet’s insurance category manager. “It is clear that QuinStreet’s auto insurance platform is robust, delivers excellent consumer engagement and generates strong revenue. By formally harnessing QuinStreet’s solutions, we expect to bring the best possible shopping experience to our visitors and materially increase this important segment of our business.”
“NerdWallet’s ‘consumer first’ approach aligns perfectly with QuinStreet’s mission,” notes Brett Moses, QuinStreet’s senior vice president, publisher media. “We will continue to invest in strategic alliances with companies like NerdWallet that provide free content, tools and guidance to help consumers make better financial decisions.”
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