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TransUnion Launches Quote Exchange For Augmented Quote Comparison

By CIOReview | Friday, May 20, 2016

FREMONT, CA: TransUnion (NYSE: TRU), a risk information provider announced the release of Quote Exchange, an online, dynamic, insurance marketplace  for engaging carriers to buy and sell real time quotes, utilizing TransUnion’s big data capability for informed decision making.

TransUnion is an information provider and its diverse sets of data and analytic solutions deliver meaningful insights to help businesses and consumers spot opportunities and manage risk. “The constant here is data. It is not going away. Mankind will always seek to gain more information to improve their decision making and ability to live a better life,” says Jim Peck, CEO and President, TransUnion.

Based on the enriched data provided by TransUnion, Quote Exchange targets eminently competent leads online, delivering an enhanced comparison shopping experience for customers. Quote Exchange enables customers to exchange and purchase insurance quotes based on their specific criteria. Early adopters, who have already embraced Quote Exchange are experiencing a successful utilization of TransUnion’s data sets to present their quotes in front of the consumers at the right time and at the right price.

“We are excited to be an early participant in the TransUnion Quote Exchange,” said Rick Williams, Director of eCommerce, Direct General Insurance Company. “The approach as well as the technology TransUnion is integrating with the Quote Exchange makes this a very unique and promising program that we expect to be substantially more successful than traditional aggregator programs.”

Unlike other comparison platforms, Quote Exchange allows shoppers to engage as they complete a quote directly on a carrier's website. TransUnion data array, which includes credit, fraud and violation inputs give carriers the overview of the consumer prior to buying a lead and providing the consumer with a quote. Also, the market based analysis performed by the company allows carriers to acquire insight into detailed market statistics, maximizing ROI.