Quicken'com and their Evolving Business Model

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Quicken.com and their Evolving Business Model

• Launched in 1996 as an information aggregator.
• Added value by gathering information and allowing
  customers to search financial topics they were
  interested in
• Revenue came from advertising

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Quicken.com cont.

• By 1998 six focused divisions were introduced on
  the Quicken.com site changing the site to a
  vertical portal.
• Two aggregators
• QuickenInvestment
• QuickenRetirement
• Three marketplaces
• QuickenInsurance
• QuickenLoan
• QuickenBanking
• QuickenTurboTax (an online extention of the
  Intuit software)

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QuickenInsurance.com

• Sold insurance policies online for insurance
  carriers
• Charged carriers through referal fees,
  commission, instalation and integration fees, and
  maintenance fees
• Value to carriers came from
• Could reach larger base of customer
• Educate customers and generate leads
• Provide 30-70 cost savings
• Increase knowledge base about customers

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QuickenInsurance.com cont.

• Provided access to information, advice, quotes
  and price comparison online
• Customers accessed this information and buying
  power free of charge.
• Customers could convienently make educated buying
  decisions 24 hours a day.
• Customer could access a number of quotes in a
  fraction of the time.

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QuickenInsurance.com cont.

• Cost Drivers for the division
• Hiring and retaining the technical support to
  develop and maintain the site
• Marketing and sales cost are low do to the use of
  Quicken.com as an entry way and marketing force
  for the site