Quotemonster reports strong growth over past 18 months

Insurance aggregator and comparison site Quotemonster announced that it has experienced strong growth over the past 18 months, with increased usage and subscription rates.

According to the company’s blog post, it is now creating over 600,000 quotes per quarter, across over 95% of life and health insurance products being sold in the New Zealand market. Quotemonster also released new report formats – heatmap report, benefit overview and detailed head-to-head – based on adviser feedback. These formats have been well-received by users.

During this period, Quotemonster grew its subscriber numbers for both its Researchmonster and Advicemonster services by over 20%. To keep up with the increased demand, the company now has eight employees and five contractors working to support advisers and their admin staff and to ensure consistent service levels from its Auckland-based team.

Quotemonster also invested in automating the creation of statements of advice (SOAs). This saves time for advisers, as the SOAs will automatically contain client details, product information and premiums.

“Keep an eye out for our soon to be released Company Reports, Adviser Customer Experience forms, and API connections, to name a few,” Quotemonster said. “These will be covered in more detail in our upcoming nationwide roadshow (soon to be announced). Alternatively, you are more than welcome to visit us in our new bigger and brighter Birkenhead office we moved into in March at 29 Enterprise Street.”