SACRAMENTO, Calif., April 25, 2002 – InsWeb Corp. (Nasdaq: INSW) today announced that Mark Guthrie, age 41, currently InsWeb’s President and Chief Operating Officer, has been promoted to the additional position of Chief Executive Officer, effective July 1, 2002. In a planned transition, Mr. Hussein Enan, InsWeb’s co-founder and current CEO, will retain the position of Chairman of the Company’s Board of Directors and will remain active within the Company on a day-to-day basis.
“It has given me great satisfaction over the last seven years to build and grow InsWeb into the promising company it is today. While I will remain active on a daily basis at InsWeb, I plan to devote more of my time to my family,” said Hussein Enan, Chief Executive Officer of InsWeb. “I take this step with the utmost confidence in Mark’s ability to lead InsWeb through the next phase of its growth. Mark has done an admirable job over the past five years at InsWeb. His leadership skills have had a great positive impact on the organization, and his strategic focus and dedication have been instrumental in improving our financial results and our steady march toward profitability. It has been a pleasure and a privilege to serve alongside Mark, and I look forward to continuing to work closely with him going forward.”
“I am honored to be charged with leading InsWeb to future success,” said Mark Guthrie. “We have made tremendous progress in the past year and have built a stable foundation on which to grow. Our revenues, expense management, and margin per shopping session all have the right trajectories and we are excited to extend InsWeb’s leadership position in online insurance.”
As President and Chief Operating Officer for InsWeb Corporation, Mark Guthrie has been responsible for executive oversight of marketing, product and site management, product and client implementation, technology, and insurance agency operations. Mr. Guthrie joined InsWeb in September 1997 as Senior Vice President of Strategic Partnerships and served as its Executive Vice President of Operations from July 1998 to June 2000. Mr. Guthrie was promoted to Chief Operating Officer in January 2000 and gained the additional title of President in June 2000. From July 1995 to August 1997, Mr. Guthrie held various positions with Industrial Indemnity, a nationwide property and casualty insurance company, most recently as senior operating officer of national programs. Mr. Guthrie holds a Master’s degree in International Management from the University of Boston in Brussels, Belgium. He also earned a Bachelor’s degree in business administration and finance from California State University, Chico.
About InsWeb InsWeb (Nasdaq: INSW) enables consumers to compare multiple, actionable quotes for auto, term life, health, homeowners, renters and condominium insurance offerings from many of the nation’s highly rated insurers. The top-rated online insurance marketplace also provides live customer service, interactive tools and independent research. Headquartered in Sacramento, Calif., InsWeb is accessible at www.insweb.com and through such prominent partners as Yahoo!, Quicken.com, Lycos and LowerMyBills.