NerdWallet Chooses QuinStreet to Exclusively Power Auto Insurance Marketplace
QuinStreet (Nasdaq: QNST) has partnered with NerdWallet to power its auto insurance marketplace. This collaboration enhances consumer shopping experiences by leveraging QuinStreet's extensive network of over 65 insurance carriers and 6,000 agents. With a decade of expertise in digital auto insurance, QuinStreet connects nearly 30 million consumers annually. The companies aim to provide a customized shopping solution that simplifies the process for NerdWallet's audience, potentially increasing revenue significantly for NerdWallet's insurance segment.
- Partnership with NerdWallet could significantly boost revenue in the insurance segment.
- Expanded collaboration aims to enhance consumer experience and customization in auto insurance shopping.
- QuinStreet's extensive network includes 65+ carriers and a large agent base, enhancing market reach.
- None.
FOSTER CITY, Calif., Sept. 17, 2020 /PRNewswire/ -- 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.
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.
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."
With more than 800 media partners, QuinStreet's network operates in all digital environments, from apps, to mobile to desktop. To learn more about integrating QuinStreet technology, complete a Contact Us form here: https://www.quinstreet.com/our-products/
About QuinStreet, Inc.
QuinStreet, Inc. (Nasdaq: QNST) is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs.
About NerdWallet
NerdWallet is on a mission to provide clarity for all of life's financial decisions. As a personal finance website and app, NerdWallet provides consumers with personalized, unbiased and actionable insights so they can make smart money moves. From finding the best credit card to buying a house to investing their next dollar, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven membership experience, which helps them stay on top of their finances and save time and money, giving them the freedom to do more. For more information, visit NerdWallet.com.
"NerdWallet" is a trademark of NerdWallet Inc. All rights reserved. Other names and trademarks used herein may be trademarks of their respective owners.
Legal Notice Regarding Forward Looking Statements
This press release and its attachments contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Words such as "estimate", "will", "believe", "expect", "intend", "outlook", "potential", "promises" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include the statements in quotations from management in this press release, as well as any statements regarding the Company's anticipated financial results, growth and strategic and operational plans. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, but are not limited to: the impact from risks and uncertainties relating to the COVID-19 pandemic; the impact of changes in industry standards and government regulation including, but not limited to investigation or enforcement activities of the Federal Trade Commission and other regulatory agencies; the Company's ability to maintain and increase client marketing spend; the Company's ability to maintain and increase the number of visitors to its websites and to convert those visitors and those to its third-party publishers' websites into client prospects in a cost-effective manner; the impact of the current economic climate on the Company's business; the Company's ability to access and monetize Internet users on mobile devices; the Company's ability to attract and retain qualified executives and employees; the Company's ability to compete effectively against others in the online marketing and media industry both for client budget and access to third-party media; the Company's ability to identify and manage acquisitions; and the impact and costs of any alleged failure by the Company to comply with government regulations and industry standards. More information about potential factors that could affect the Company's business and financial results are contained in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission ("SEC"), including the Company's annual report on Form 10-K for the fiscal year ended June 30, 2020 filed with the SEC on August 28, 2020. The Company does not intend and undertakes no duty to release publicly any updates or revisions to any forward-looking statements contained herein.
Media Contact
SSPR for QuinStreet
Alise Murawski
(847) 528 2882
QuinStreet@sspr.com
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SOURCE QuinStreet, Inc.
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