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American Express Announces Internet Auto Insurance Shopping

21 May 2000

American Express Property Casualty Companies Announce Internet Auto Insurance Shopping

    MINNEAPOLIS - The American Express Property Casualty companies announced on 
Friday that they are selling auto insurance shopping via the Internet in
California.  The company is one of the first in the industry to offer a web-based 
interactive insurance quoting and buying experience.

    "More than 40 percent of today's auto insurance policyholders are
accessing the Internet," said Ken Ciak, president, American Express Property
Casualty companies.  "This new service lets customers use technology they are
familiar with to easily research, comparison shop and purchase auto insurance
right from their computer."

    Customers will find the following services online, including:

    -- Free real-time quotes, available in minutes, allow customers to compare
       American Express Property Casualty's auto insurance rates to a
       customer's current rate.
    -- Free insurance analyzer tool enables customers to determine what type
       of coverage to select for their needs.  No other insurance company
       provides this service online.
    -- A secure web environment which keeps information private.
    -- The ability to purchase auto insurance online.

    American Express Property Casualty is investing substantial funds in order
to offer consumers nationwide the ability to access policy and rate
information online.  The company plans to expand this new service in
additional states throughout 2000.

    The American Express Property Casualty companies entered the auto and home
insurance market in 1986 when it began offering insurance products to its
American Express card holders as a membership benefit through the American
Express Assurance Company.  In 1990, American Express Property Casualty opened
up its offerings to non-card members and currently provides auto and
homeowners insurance in 36 states.