New product enables consumers to compare and buy policies from top national brands
SAN FRANCISCO – May 9, 2012 – CoverHound today announced the public launch of its comparative shopping platform for car insurance. CoverHound is a first-of-its-kind service harnessing the power of a web-based platform and a national full-service independent insurance agency to identify the best car insurance rates available for consumers.
CoverHound is reordering auto insurance comparison shopping by changing the way consumers find and buy policies. After spending months in private beta, CoverHound already has thousands of users and is available to more than 80 percent of the U.S. population in 30 states, with the rest soon to follow. The company’s partnerships with top insurance carriers like Progressive, Travelers, Safeco and GMAC Insurance enable CoverHound to deliver precise and personalized insurance rates directly from the carrier to the consumer.
CoverHound is much more than a car insurance comparison shopping engine—it is supported by a full-service independent insurance agency providing professional advice online or over the phone to consumers during the shopping process. Consumers simply enter vehicle and driver information, and in a matter of seconds are able to select the policy that best suits their needs. Additionally, with CoverHound, all personal information is kept safe and is not shared until the consumer is ready to buy.
“CoverHound was born out of our vision to provide consumers with a personalized insurance shopping experience they can trust,” said Basil Enan, founder and CEO, CoverHound. “With this idea in mind, we developed an online platform that would leverage the combined strength of leading insurance carrier partnerships with a hand-picked team of experienced insurance professionals -- to provide consumers with instant, accurate and actionable insurance rates. In doing so, we’ve been able to solve the complexities around searching and purchasing car insurance to ensure consumers make the most intelligent choice possible.”
CoverHound also introduced Insurance Storefront, a customizable turnkey solution that allows banks, credit unions and personal finance websites to offer CoverHound’s insurance rate comparisons and policies to their members. Insurance Storefront allows partners to deliver a unique service,leveraging CoverHound’s secure platform and team of licensed insurance experts to address the insurance shopping needs of today’s web-savvy consumer. Insurance Storefront will debut today at FinovateSpring 2012.
What customers are saying about CoverHound:
"I am very grateful to CoverHound for saving me $1350 a year on my car insurance. The representative who assisted me was very helpful and thorough. The process was so easy. I highly recommend this company to anyone looking to save LOTS OF MONEY!!!"
Judy P., Rancho Cucamonga, CA
“CoverHound and I looked at my motorcycle policy -- and by switching I was able to save over $900 a year! With the friendly and knowledgeable service I received, I will be calling them again.”
Wes A., Sacramento, CA
About CoverHound
CoverHound is redefining how people shop for insurance. Founded in May 2010 by Basil Enan, CoverHound provides consumers with instant, accurate and actionable rates from leading insurance carriers. The CoverHound team is comprised of insurance veterans from companies like InsWeb, Unitrin Direct and State Farm. A Winter 2011 AngelPad graduate, CoverHound received seed funding from Blumberg Capital in June 2011. For more information, or to try the service, please visit CoverHound.com.
