Looking for Net Worth - Company Business and Marketing - Directory - Company Profile

Industry Standard, The, Feb, 2001 by Jen Davis

REVENUES: $25.9 billion

CUSTOMERS: 6 million households

A latecomer to the online game, Wall Street heavy Merrill Lynch has played catch-up with a vengeance, and the kudos its online brokerage is starting to receive match those of its offline operation.

INSURANCE

Answer Financial

www.answerfinancial.com

HQ: Canoga Park, Calif.

EMPLOYEES: 250

REVENUES: Not disclosed

CUSTOMERS: 13 million

Answer Financial is the parent and holding company for the insurance Answer Center, a matchmaker that connects customers with insurance companies. Customer service is available online or by phone 24 hours a day.

eCoverage

www.ecovereage.com

HQ: San Francisco

EMPLOYEES: 70

REVENUES: Not disclosed

CUSTOMERS: Not disclosed

Ranked No. 1 for usability and customer confidence in Gomez's fall 2000 insurance carrier category, eCoverage lets auto insurance customers in 31 states file claims, check billing histories and update policies entirely online.

Ins Web

www.insweb.com

HQ: Redwood City, Calif.

EMPLOYEES: 297

REVENUES: $25.1 million

CUSTOMERS: 2.4 million

Customers comparison shop for insurance, insurers pay InsWeb for client leads, and those fees constitute 90 percent of its revenues. Not all are willing to pay, though: State Farm canceled its agreement with InsWeb last April.

Progressive

www.progressive.com

HQ: Mayfield Village, Ohio

EMPLOYEES: 18,753

REVENUES: $475.9 million

CUSTOMERS: 8 million

The fourth-largest writer of auto insurance in the United States, Progressive is driven to have a hearty presence online, too. The road looks smooth so far: 15 percent of its business now comes directly from the Web.

Quotesmith.com

www.quotesmith.com

HQ: Darien, III.

EMPLOYEES: 108

REVENUES: $15.8 million

CUSTOMERS: 38,000 paid policies

A $500 cash guarantee on quote accuracy and lowest-term availability from 300 insurance companies, plus no application fee -- no wonder Quotesmith gets one quote request every four seconds. Popular with the financial press, too.

SelectQuote

www.selectquote.com

HQ: San Francisco

EMPLOYEES: Not disclosed

REVENUES: Not disclosed

CUSTOMERS: 300,000 policies

A player in term life insurance since 1985, SelectQuote offers a 10- to 20-day no-risk guarantee on all policies sold through the site. Parent company Zebu sells its back-end insurance-quote software to other insurers.

LENDING

Countrywide Credit Industries

www.countrywide.com

HQ: Calabasas, Calif.

EMPLOYEES: 12,000

REVENUES: $11.07 billion

CUSTOMERS: 2.77 million

Countrywide is the largest residential mortgage lender in the U.S., with a portfolio of $278 billion. A member of the S&P 500 and Forbes 500, Countrywide also dabbles in insurance and transaction processing.

E-Loan

www.eloan.com

HO: Dublin, Calif.

EMPLOYEES: 319

REVENUES: $32.3 million

CUSTOMERS: 36,122 closed loans (1Q00 to 3Q00)

E-Loan purchased CarFinance.com in September 1999 and has partnerships with Yahoo, E-Trade, CBS MarketWatch and more than 70 lenders. Customers like its E-Track service, which gives 24-hour access to loan status info.

Quicken Loans

www.guickenloans.com

HQ: Mountain View, Calif.