CAMBRIDGE, Mass., June 26, 2019 /PRNewswire/ -- EverQuote,
Inc. (NASDAQ: EVER), a leading online insurance marketplace in the
U.S., today announced the expansion of its marketplace to include
health insurance and renters insurance, building on the existing
auto, home and life insurance marketplace offerings.
By expanding its marketplace, EverQuote continues to use data
and technology to make finding insurance easy and more personal,
saving consumers and insurance providers time and money. From
first-time renters to baby boomers eligible for Medicare, EverQuote
helps consumers at all stages of life as it seeks to become the
destination for insurance shoppers and providers.
EverQuote's health insurance marketplace
Health insurance and Medicare are complex products with multiple
policy choices that can be confusing. As more internet-savvy
consumers age into Medicare, they are looking for online sources to
research and find insurance. According to a recent eHealth Medicare
Online Enrollment Trends study, 22% of all Medicare Advantage and
Medigap enrollments occurred online in the fourth quarter of 2018,
compared to 13% in the fourth quarter of 2017, an increase of
69%.
EverQuote's health insurance marketplace helps consumers
navigate the complicated process of purchasing a non-employer
provided health or Medicare plan by connecting them to the right
insurers via online or offline options.
EverQuote's health insurance marketplace launch is in advance of
the annual Open Enrollment periods in the fall.
EverQuote's renters insurance marketplace
EverQuote's renters insurance marketplace benefits shoppers
who are interested in easily shopping for insurance protection for
their personal property. EverQuote will help shoppers find options,
connect with insurance providers, and save money on renters
insurance.
Based on consumer surveys, drivers who purchased a new auto
insurance policy through EverQuote saved an average of $610 per year*, and EverQuote expects to help
consumers get the right coverage for them and find savings in these
new verticals as well.
"We are excited to launch the health and renters insurance
verticals as we continue to play a growing role in empowering
consumers to better protect life's most important assets, and the
inclusion of health and renters insurance are both natural
extensions of our insurance marketplace for consumers and
providers," said Seth Birnbaum, CEO
and Co-Founder of EverQuote.
Consumers can access the new options at EverQuote.com.
Safe Harbor Statement
Any statements in this press release about future expectations,
plans and prospects for EverQuote, Inc. ("EverQuote" or the
"Company"), including statements about future results of operations
or the future financial position of the Company, including
financial targets, business strategy, plans and objectives for
future operations and other statements containing the words
"anticipates," "believes," "expects," "plans," and similar
expressions, constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors, including: (1) the Company's ability to
attract and retain consumers and insurance providers using the
Company's marketplace; (2) the Company's ability to maintain or
increase the amount providers spend per quote request; (3) the
effectiveness of the Company's growth strategies and its ability to
effectively manage growth; (4) the Company's ability to maintain
and build its brand; (5) the Company's reliance on its third-party
service providers; (6) the Company's ability to develop new and
enhanced products and services to attract and retain consumers and
insurance providers, and the Company's ability to successfully
monetize them; (7) the impact of competition in the Company's
industry and innovation by the Company's competitors; (8) the
Company's expected use of proceeds from its initial public
offering; and (9) other factors discussed in the "Risk Factors"
section of the Company's most recent Quarterly Report on Form 10-Q,
which is on file with the Securities and Exchange Commission.
In addition, the forward-looking statements included in this press
release represent the Company's views as of the date of this press
release. The Company anticipates that subsequent events and
developments will cause the Company's views to change.
However, while the Company may elect to update these
forward-looking statements at some point in the future, the Company
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to the
date of this press release.
About EverQuote
EverQuote operates a leading online insurance marketplace
in the U.S., connecting consumers with insurance providers.
The company's data & technology platform matches and connects
consumers seeking to purchase insurance with relevant options from
the company's broad direct network of insurance providers, saving
consumers and providers time and money. EverQuote was founded
with the vision of applying a scientific, data-driven approach to
help consumers find the best price and coverage for their
individual insurance needs.
For more information, visit EverQuote.com and follow on Twitter
@EverQuoteInsure.
*Savings amount based on a countrywide survey of users from
November 2018 to April 2019 who reported old and new premiums and
who reported the same or better coverage with their new
policy.
Investor Relations Contact:
Brinlea Johnson
The Blueshirt Group
212-331-8424
Brinlea@blueshirtgroup.com
Or
Allise Furlani
The Blueshirt Group
212-331-8433
allise@blueshirtgroup.com
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SOURCE EverQuote, Inc.