Company Positioned to Capitalize on Growth in the Health Insurance Vertical
EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced that it has completed the previously announced acquisition of Crosspointe Insurance & Financial Services, LLC, a leading health insurance agency headquartered in Evansville, Indiana. The transaction closed yesterday and was funded through cash on the balance sheet.
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For additional details on the transaction, please refer to the press release distributed by EverQuote on August 4, 2020 and Q2 2020 earnings conference call.
“We are excited to welcome Josh, Drew and the entire Crosspointe team to EverQuote. They share our passion for driving innovation and our cultural roots in bootstrapping, heart, tenacity, and data-driven optimization,” said Seth Birnbaum, CEO of EverQuote. “With today’s closing, EverQuote is well-positioned to accelerate and expand our opportunity in the health insurance market, by providing insurance shoppers with a broader range of health insurance products through access to a greater number of carrier partners, and an improved and more personalized customer buying experience. The acquisition broadens EverQuote’s access to the $130 billion commission TAM component of overall insurance distribution spend shifting online, and we expect it will increase revenue per quote request in our health insurance vertical, further growing and diversifying our company’s revenues.”
