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Tech Industry

Short Take: InsWeb allies with Insurance Information Exchange

InsWeb, a Web mall for insurance products, has entered a broad strategic alliance with the Insurance Information Exchange (iiX), a $60-million-a-year technology services firm owned by a consortium of ten top-tier insurers. InsWeb will refer property/casualty agents to iiX while the two work together to enable electronic commerce, beginning with consumer education, then moving to online quotes, and finally to selling insurance via the Net. iiX has made a financial investment in InsWeb.

InsWeb, a Web mall for insurance products, has entered a broad strategic alliance with the Insurance Information Exchange (iiX), a $60-million-a-year technology services firm owned by a consortium of ten top-tier insurers. InsWeb will refer property/casualty agents to iiX while the two work together to enable electronic commerce, beginning with consumer education, then moving to online quotes, and finally to selling insurance via the Net. iiX has made a financial investment in InsWeb.