RISK MANAGEMENT

Brown & Brown Accelerates Digital Insurance Distribution By Acquiring CoverHound and CyberPolicy

Brown & Brown, CoverHound, CyberPolicy | November 09, 2020

CoverHound® and CyberPolicy®, a main advanced protection commercial center for people and independent companies, today declared they have been obtained by Brown and Brown, Inc. a main protection financier firm giving danger the executives answers for people and organizations.

With this procurement, Brown and Brown increases extra admittance to the quickly developing computerized protection market for the two people and independent companies, notwithstanding abilities that modernize the protection buying experience. CoverHound, and its completely possessed auxiliary CyberPolicy, are an impetus for driving the computerized change that the protection market requests, specifically the advanced quickening that has happened in the course of recent months because of the Covid pandemic. Consolidating Brown and Brown's solid transporter connections and item information with CoverHound and CyberPolicy's association organization and client experience will make a solid incentive for clients and accomplices.

CoverHound and CyberPolicy will keep on working autonomously under Brown and Brown and will zero in on scaling advanced associations with confided in brands.

Brown & Brown Senior Vice President of Technology, Innovation, and Digital Strategy Steve Boyd said of the acquisition, “We see CoverHound as an important platform for Brown & Brown’s expansion into the digital insurance marketplace while at the same time helping our traditional businesses to continually deliver an exceptional customer experience. By combining CoverHound with our expertise and market strength, we will be able to meet more customers where they are and provide them with the appropriate coverage for their unique exposures.”

CoverHound and CyberPolicy CEO Keith Moore said, “We’re thrilled to become part of Brown & Brown, an exceptional company with an entrepreneurial spirit. Combining Brown & Brown’s strong carrier relationships with our proven marketplace technology will offer customers best-in-class curated choice and digital simplicity. The acquisition strengthens what has always been our mission: delivering fast, accurate and actionable options online to customers based on their specific insurance needs, anytime, anywhere.”

In the course of recent years, CoverHound and CyberPolicy have kept up a main Net Promoter Score of 82, have essentially expanded the quantity of approaches sold totally on the web and have built up the ability to carefully cite and tie numerous transporters and items into a solitary online exchange.

As one of the first InsurTechs that have arisen and scaled over the previous decade, CoverHound and CyberPolicy have stayed consistent with their vision, zeroing in on being a confided in guide for curated decision and satisfying the intricate needs of the present current client, all while streamlining the protection examination and buying measure

About CoverHound:
CoverHound® is an original InsurTech that allows consumers and businesses to easily compare and purchase insurance. CoverHound offers competitive rates and coverages in 50 states, delivering fast, accurate and actionable quotes from leading US carriers based on a customer’s specific needs. Developed by a team with deep insurance and online financial marketplace experience, CoverHound is dedicated to providing best-in-class customer experience

About CyberPolicy:
In 2016, CyberPolicy® became the world’s first marketplace to help small businesses compare, quote and buy cyber insurance online in minutes. Since then, CyberPolicy has expanded its offerings to deliver more complete coverages and bundles for Small and Medium-sized businesses including additional core business insurance products. CyberPolicy offers competitive rates in 50 states and helps small businesses “Plan. Prevent. Insure™”.

About Brown & Brown:
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, providing risk management solutions to individuals and businesses. With more than 80 years of proven success and thousands of teammates, we offer knowledge you can trust and strive to deliver superior customer service.

Spotlight

The political unrest that has rocked Hong Kong for the last three months is hitting the city's insurance sector hard. Chinese customers are the biggest drivers of demand for Hong Kong insurance products and the unrest is deterring them from travelling to the city.


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ANNUITIES

King Insurance expands into Georgia with the acquisition of Piedmont Insurance Associates

King | December 24, 2021

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INTELLECTUAL PROPERTY

Everspan Partners with Branch to Enhance Branch’s Geographic Expansion

Everspan Group | February 22, 2022

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INSURANCE TECHNOLOGY

NSI Insurance Group Acquires Majority Stake in InsurTech Startup HoneyQuote

NSI | March 28, 2022

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INSURANCE TECHNOLOGY

Stampede Insurance Services and Bliss Drive Establish New Partnership

Stampede Insurance | April 23, 2022

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Spotlight

The political unrest that has rocked Hong Kong for the last three months is hitting the city's insurance sector hard. Chinese customers are the biggest drivers of demand for Hong Kong insurance products and the unrest is deterring them from travelling to the city.

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