Stock Watch: Prudential Joins InsWeb, Gives Stock a Boost

InsWeb (Nasdaq: INSW) gained 5/16 to 2 5/8 Tuesday after the Redwood City, California-based online insurance marketplace said Prudential Insurance Company of America, one of the largest insurance companies in the United States, is now a participating member.

“Prudential’s exemplary reputation and wide selection of products are an outstanding addition to our marketplace,” said James Corroon, vice chairman of InsWeb.

“InsWeb is an important part of our overall electronic commerce strategy, which is designed to reach the growing number of our customers and new consumers who are seeking online solutions,” said Robert L. Conover, vice president of Prudential’s individual financial services division. “Supported by its vast network of online partners, InsWeb is helping to significantly broaden our reach across the Internet.”

InsWeb provides consumers with free quotes on auto, term life, health, homeowners, renters, motorcycle and pet insurance from more than 40 insurance companies. Its services are available over several Web sites, including Yahoo!, MSN, and E*Trade.

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