|Technology & Insurance|
|Founders||Basil Enan, Rory Joyce, Joel Hayhurst|
|Headquarters||San Francisco, California, USA|
Number of employees
|Slogan||Compare with Confidence|
CoverHound is a technology company that has developed a platform for consumers to shop for car insurance. The company was founded in May 2010 by Basil Enan, a former executive at InsWeb. CoverHound raised $750,000 in seed funding from Blumberg capital and subsequent strategic investment resources from Source Interlink, publisher of Motor Trend.
In November 2011 the company announced the launch of CoverHound Insurance Solutions, an agency based in Southern California.
In March 2012 CoverHound announced the formal launch of its comparative shopping engine for insurance.
CoverHound uses relationships with car insurance carriers and agencies to improve users’ car insurance policies. Drivers get car insurance recommendations without selling consumer data to multiple lead buyers.
The company has also used proprietary data to publish studies on car insurance trends, including one that showed Americans prefer to work with local agents over direct carriers. Another study showed a clear gender bias in car insurance rates; males pay on average $15,000 more on premiums throughout the course of their lives than do women.
Honors & Recognitions
In October 2010, CoverHound placed first in an investor pitch event held at Dogpatch Labs in New York City. The investor panel included representatives from First Round Capital and Polaris Ventures.
CoverHound was a member of the AngelPad Winter 2011 class. The startup incubator founded by seven former Google employees invited CoverHound and 14 other startups to join the program out an applicant pool of more 800 companies worldwide. CoverHound presented at AngelPad's Demo Day—along with Shopobot, Crittercism, Astrid, and other notable startups—and attracted funding from Blumberg Capital shortly thereafter.
In March 2012, CoverHound was selected to demo its insurance shopping technology at Finovate.
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