Quotit Corporation is a leading Internet application service provider for the health insurance and employee benefits industry. Quotit Corporation's Internet software enables insurance organizations to increase productivity and reduce costs by directly connecting insurance companies, brokers and retail consumers with insurance rates and benefits on-line, in real time.
Quotit has established relationships with over 120 insurance carriers representing over 11,300 plans in the health, life, dental and vision insurance markets, including such names as: Aetna, United Healthcare, Health Net, WellPoint, Assurant Health, Humana, Celtic and independent licenses of the Blue Cross Blue Shield Association. Quotit's database of carriers and plans extends to 50 states including the District of Columbia.
Irvine, CA – March 20, 2008 – Quotit Corporation, a leading Internet application service provider for the health insurance and employee benefits industry, announced a strategic relationship with Vimo, the nation's first integrated comparison shopping portal for health. The relationship will provide Quotit's proprietary software to Vimo's consumers so they can review and compare detailed pricing and feature data for health insurance plans online.
Over the last two years, the number of people who have used the Internet to search for health insurance-related information has increased distinctly (from 53% in 2005 to 71% in 2007), according to a July 2007 Harris Poll. Although a majority of Americans go online for health insurance information, most do not have the knowledge to process what they read. Many consumers lack a basic understanding of even the most common health insurance terms. It may be an internet-based market, but there is still a need for professional help so online shoppers can sort through the deluge of insurance facts, figures and rates.
Vimo.com allows consumers to shop online for health insurance plans and still get free, expert advice from its nationwide network of licensed insurance professionals. Quotit now powers Vimo's comparison-shopping tools for health insurance, providing consumers with the price and benefit information they need to select the best possible health plan for their budget. Working with Vimo's licensed insurance professionals provides consumers information instantly, as well as help in understanding insurance terminology. They can then look at Quotit's side by side comparison of benefits to choose the plan that's right for their individual needs.
"We're excited about this partnership because it will enable us to deliver a faster, better shopping experience," said Vimo CEO Chini Krishnan. "Quotit and Vimo share a similar company ethos. We both believe that free and easy access to information about price and quality is essential to improve the affordability of health care in America."
Large employers are providing fewer insurance benefits than ever before. And, according to a November 2007 Survey of Businesses Served by Professional Employer Organizations (NAPEO), smaller employers are scrapping their insurance programs altogether. As more and more consumers are faced with purchasing their own insurance, the Internet will continue to increase as the preferred information source, and sources like Quotit and Vimo will increase in necessity.
"Vimo and Quotit share the same values," said Mark Seghers, Senior Vice President of Business Development at Quotit Corporation. "We both recognize the value of the independent agent and help them drive sales, we also help to ensure that these sales efforts are supportive of a consumer's need to objectively research, compare and shop online. We are pleased to be a part of Vimo, which is ahead of the curve in providing helpful information to consumers as they consider their coverage and health care choices."
"Our new partnership with Quotit will enable us to innovate faster in the coming year," Krishnan said. "Quotit's comprehensive, industry leading insurance plan database will enable us to build tools that make it even easier for shoppers to compare products side-by-side and understand how decisions about purchases impact one another."
ABOUT QUOTIT CORPORATIONQuotit Corporation is a leading Internet application service provider for the health insurance and employee benefits industry. Quotit Corporation's Internet software enables insurance organizations to increase productivity and reduce costs by directly connecting insurance companies, brokers and retail consumers with insurance rates and benefits on-line, in real time.
Quotit has established relationships with over 120 insurance carriers representing over 11,300 plans in the health, life, dental and vision insurance markets, including such names as: Aetna, United Healthcare, Health Net, Assurant Health, Humana, Celtic and independent licenses of the Blue Cross Blue Shield Association. Quotit's database of carriers and plans extends to 50 states including the District of Columbia. For more information, visit www.quotit.com.