Wells Fargo Launches Small Business Insurance through the Internet
SAN FRANCISCO — December 18, 2000
Wells Fargo & Company (NYSE: WFC), through its insurance subsidiary Wells Fargo Insurance, announced today that it is delivering small business insurance on the Internet via Wells Fargo's small business Web portal (http://wellsfargo.com/biz) – its integrated online destination site for small businesses. Unlike many Internet portals or gateways featuring links to external third-party sites, the Wells Fargo Resource Center for Small Business Owners is a one-stop, single-login destination with seamless site navigation.
"Providing small business insurance through the Internet is a natural extension of Wells Fargo's current offerings. Our goal is to provide our small business customers with quick and understandable quotes and coverage from top-rated insurance carriers," said Tim King, president of Wells Fargo Insurance. "Initially, Wells Fargo customers will be able to get multiple quotes and policy binding in one business day. Soon thereafter, customers will be able to get quotes and bind a policy online within fifteen minutes."
Earlier this year, Wells Fargo launched the first integrated online destination site for small businesses. The Wells Fargo Resource Center for Small Business Owners provides Internet banking and bill payment and will link small businesses with services, both online and off, designed to help entrepreneurs build and grow their business.
"This new offering builds on Wells Fargo's leadership in helping our customers run their businesses securely on the Internet," said Mark Baumli, senior vice president, Wells Fargo Business Internet Services. "Wells Fargo is always striving to service small business owners when, where and how they want."
- Wells Fargo, through its relationship with InsureZone, will provide its small business customers access to multiple quotes and the convenience of purchasing commercial insurance through the Wells Fargo Resource Center for Small Business Owners.
- The coverages available include business liability, business property, workers' compensation, umbrella liability and commercial auto and are targeted at companies with 50 employees or less.
- Coverage is provided through top-rated carriers including CNA, The Hartford, Kemper Insurance, The St. Paul, Wausau Insurance Companies, Zurich U.S. Small Business and other major carriers.
"We are delighted that Wells Fargo - the world's leading online bank and nation's leading small business lender - recognized the quality of our solution and selected us to work with them," said InsureZone President Rusty Reid. "We pride ourselves on delivering the best value in high-quality insurance products. Our full service rounds out this offering by providing accurate and timely insurance-related information before, during and after the transaction."
InsureZone, based in Fort Worth with offices in San Francisco, Minneapolis and Philadelphia, offers a spectrum of insurance services from fulfillment to complete turnkey e-commerce capabilities. InsureZone offers customers multiple insurance quotes and products from top-rated carriers and the ability to purchase coverage online or offline in just minutes. InsureZone accomplishes this through the insurezone.com site, private-labeled sites, or via the more traditional methods of fax, phone, mail or in-person consultations. For more information, visit the InsureZone Web site: www.insurezone.com , or call 1/866-INSZONE.
About Wells Fargo
As the first major financial services company in the U.S. to launch consumer Internet banking services in 1995 (www.wellsfargo.com ), Wells Fargo has blazed the trail in providing interactive tools and features for customers. Nielsen/Net Ratings ranked Wells Fargo the top bank in terms of unique monthly visitors in October 2000.
Wells Fargo & Company is a diversified financial services company with $263.5 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,700 stores and the Internet (www.wellsfargo.com ) across North America and internationally.
Wells Fargo Insurance is the seventh largest insurance agency in the country offering personal and commercial products and services from the country's leading insurance companies.