Acquisition will push electronic transformation at Brown & Brown and enhance partnerships, carriers and products out there on CoverHound and CyberPolicy to supply even bigger shopper selection and comparison.
SAN FRANCISCO, Nov. 09, 2020 (Globe NEWSWIRE) — CoverHound® and CyberPolicy®, a major electronic coverage market for people and little firms, nowadays announced they have been acquired by Brown & Brown, Inc. (NYSE:BRO), a leading insurance brokerage firm offering threat management alternatives to folks and organizations.
With this acquisition, Brown & Brown gains additional obtain to the quick-escalating electronic coverage current market for each men and women and smaller corporations, in addition to capabilities that modernize the insurance policy acquiring encounter. CoverHound, and its wholly-owned subsidiary CyberPolicy, are a catalyst for driving the electronic transformation that the coverage market demands, in distinct the digital acceleration that has occurred in excess of the past quite a few months as a outcome of the coronavirus pandemic. Combining Brown & Brown’s powerful provider associations and item awareness with CoverHound and CyberPolicy’s partnership community and consumer experience will develop a sturdy worth proposition for consumers and companions.
CoverHound and CyberPolicy will continue on to work independently underneath Brown & Brown and will emphasis on scaling electronic partnerships with trustworthy makes.
Brown & Brown Senior Vice President of Technology, Innovation, and Electronic Method Steve Boyd said of the acquisition, “We see CoverHound as an critical system for Brown & Brown’s expansion into the digital insurance policies market though at the identical time aiding our common enterprises to continually provide an exceptional shopper encounter. By combining CoverHound with our expertise and sector toughness, we will be ready to satisfy additional prospects in which they are and offer them with the appropriate coverage for their one of a kind exposures.”
CoverHound and CyberPolicy CEO Keith Moore claimed, “We’re thrilled to come to be section of Brown & Brown, an extraordinary corporation with an entrepreneurial spirit. Combining Brown & Brown’s powerful carrier interactions with our established marketplace technological innovation will give buyers very best-in-course curated choice and digital simplicity. The acquisition strengthens what has always been our mission: offering quick, accurate and actionable possibilities on-line to customers based mostly on their particular insurance plan requirements, whenever, anyplace.”
Around the past 10 a long time, CoverHound and CyberPolicy have maintained a foremost Web Promoter Rating of 82, have noticeably elevated the selection of policies offered completely on the net and have designed the ability to digitally quotation and bind numerous carriers and products and solutions into a one on the internet transaction.
As 1 of the first InsurTechs that have emerged and scaled more than the past 10 years, CoverHound and CyberPolicy have remained real to their vision, concentrating on currently being a trustworthy advisor for curated option and meeting the sophisticated needs of today’s contemporary customer, all although simplifying the insurance coverage comparison and acquiring procedure.
CoverHound® is an authentic InsurTech that will allow people and firms to simply evaluate and buy insurance coverage. CoverHound offers aggressive charges and coverages in 50 states, delivering speedy, precise and actionable quotations from top US carriers based mostly on a customer’s distinct desires. Formulated by a workforce with deep insurance and on the net economical marketplace practical experience, CoverHound is committed to providing finest-in-course customer knowledge. For extra information and facts, please check out CoverHound.com.
In 2016, CyberPolicy® turned the world’s initially market to aid little organizations examine, estimate and obtain cyber insurance on the web in minutes. Because then, CyberPolicy has expanded its offerings to provide far more full coverages and bundles for Modest and Medium-sized enterprises like added main small business coverage products and solutions. CyberPolicy features aggressive prices in 50 states and allows compact enterprises “Plan. Stop. Insure™”. For extra data, please visit CyberPolicy.com.
About Brown & Brown:
Brown & Brown, Inc. (NYSE: BRO) is a primary insurance plan brokerage company, giving hazard administration remedies to persons and enterprises. With additional than 80 decades of demonstrated results and 1000’s of teammates, we provide understanding you can rely on and attempt to deliver top-quality shopper assistance. For more facts, you should check out bbinsurance.com.
Katherine Moura, CMO