DARIEN, Ill., April 24, 2017 /PRNewswire/ -- LifeQuotes.com, the online life insurance exchange that offers instant quotes from 50 leading life insurance companies, today announced that it recently achieved its first-ever Service Organization Control (SOC) 2 - Type II Audit, which dealt with suitability of design and operating effectiveness regarding security, availability and confidentiality. The independent examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.
The SOC 2 Audit is designed to assess a company's information security measures in light of today's demanding marketplace requirements.
"LifeQuotes.com is well-positioned in today's rapidly-changing online insurance landscape," remarked Robert Bland, CEO. "An exciting digital upheaval and modernization is underway in the life insurance marketplace. Achieving the coveted SOC 2 – Type II Audit is one way that we are positioning our company to participate in additional strategic marketing partnerships in which trust, customer privacy and controls are paramount."
LifeQuotes.com has designed and brought to market an online, paperless life insurance quotation and policy placement platform which affords consumers maximum savings. The Company also operates co-branded, online life insurance exchanges on behalf of other organizations and institutions that have large customer or membership bases.
Rob Goss, executive vice president, said, "It's gratifying to achieve the rigorous SOC 2 – Type II audit at the same time as we continue to enhance our digital offerings to accommodate an increasing number of customers who want to buy online. An online life insurance purchase is at the fintech intersection of selection, speed and convenience. Our culture has always been to move thoroughly to address control issues, starting with the convenience of anonymous quoting."
About the SOC 2 Audit
SOC 2, a certification established by the American Institute of Certified Public Accountants (AICPA), evaluates companies on their Trust Services Principles and Criteria, including security, availability, processing integrity, confidentiality, and privacy of their data management systems. It has become an industry standard for cloud-based technology companies and is the same standard held by Amazon Web Services and Google that validates the security of their infrastructure.
Lifequotes.com underwent in-depth assessment by a third-party auditor to confirm compliance with this standard. The process requires comprehensive, written documentation of information security policies and procedures in addition to a technology examination that proves a company's ability to maintain these standards over time.
Privately-held online insurance pioneer LifeQuotes.com provides a popular life insurance exchange for consumers at www.lifequotes.com, which has delivered more than 335,000 policies. The company developed and brought to market the ability to buy term life insurance online in 2001. LifeQuotes.com also provides co-branded online life insurance and fulfillment platforms for banks, credit unions, affinity groups, trade associations and other membership groups with large customer bases. The company's proprietary technology provides instant quotes and illustrations from up to 50 leading life insurers that enables a quick, paperless purchase process. Visit www.lifequotes.com for more information or to experience the instant life insurance quoting experience online. Copyright 1984-2017 Life Quotes, Inc. All rights reserved.