CoverHound

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CoverHound
Type Technology
Industry Internet
Founded 2010
Founders Basil Enan
Headquarters San Francisco, California, USA
Key people
  • Keith Moore (CEO)
Employees 31
Website http://www.coverhound.com

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. Enan's father, Hussein Enan, was the founder of InsWeb, an earlier online insurance marketplace. CoverHound raised $750,000 in seed funding from Blumberg capital[1] and subsequent strategic investment resources from Source Interlink, publisher of Motor Trend.[2]

In November 2011 the company announced the launch of CoverHound Insurance Solutions, an agency based in Southern California.[3]

In March 2012 CoverHound announced the formal launch of its comparative shopping engine for insurance.[4]

CoverHound’s offices are located at 143 2nd Street in San Francisco, California.[5]

Description[edit]

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.[6]

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.[7] 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.[8]

Honors & Recognitions[edit]

In October 2010, CoverHound placed first in an investor pitch event held at Dogpatch Labs in New York City.[9] The investor panel included representatives from First Round Capital and Polaris Ventures.

CoverHound was a member of the AngelPad Winter 2011 class.[10] 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[11]—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.[12]

References[edit]

  1. ^ Bury, Erin (2012-09-13). "CoverHound gets $750K to innovate insurance". betakit. Retrieved 2012-09-13. 
  2. ^ Kerr, Ronny (2011-06-03). "CoverHound Adds Funding From Source Interlink, Partners with Automotive Brands". Vator News. Retrieved 2011-09-11. 
  3. ^ "CoverHound, Inc. Launches CoverHound Insurance Solutions" (Press release). SfGate. 2011-11-15. Retrieved 2011-11-22. 
  4. ^ Thurab, Cheronne (2012-05-11). "CoverHound Debuts Comparison Tool for Auto Insurance". Beta Kit. Retrieved 2012-05-14. 
  5. ^ "CoverHound CrunchBase profile". CrunchBase. Retrieved 2011-09-11. 
  6. ^ Gannes, Liz (2011-03-29). "Meet AngelPad's Freshly Incubated Batch of Start-ups". AllThingsD. Retrieved 2011-09-13. 
  7. ^ Meulemans, Michael. "Car Insurance Shoppers Still Prefer To Deal With Agents Over Direct Carriers". About.com. Retrieved 2011-09-14. 
  8. ^ Kristof, Kathy. "How men can beat gender bias in car insurance". CBS MoneyWatch. Retrieved 2012-05-15. 
  9. ^ "Great 2nd DukeGEN Investor Pitch Event in New York City with over 100 Duke alumni in attendance". Duke Global Entrepreneurship Network. 2010-10-20. Retrieved 2011-09-09. 
  10. ^ Siegler, MG (2011-03-29). "The Second Cluster Of Startups Ascend From AngelPad". TechCrunch. Retrieved 2011-09-12. 
  11. ^ Lynley, Matthew (2011-03-29). "AngelPad’s 13 Demo Day Darlings". New York Times. Retrieved 2011-09-12. 
  12. ^ "FinovateSpring 2012 Presenting Companies". Finovate. 

External links[edit]