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German Online Insurance Quote Site Faces Insolvency.

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NU Online News Service, Aug. 6, 4:25 p.m. – Censio A.G., Eltville-Erbach, Germany, a German online insurance quote service site, says it will face insolvency unless its emergency negotiations with creditors are successful, according to Deutsche Presse-Agentur GmbH, a German news agency.

Censio has asked creditors to waive their claims against the company until October, and it has already shed 80 of its 180 employees, DPA reports.

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Censio provides insurance quotes from more than 100 insurance brokers. Although it has generated a large number of hits, it has run into financial difficulties because it has had trouble converting the hits into commission revenue, DPA says.