EverQuote Partners with Bold Penguin to Launch Commercial Insurance Marketplace
Oct 28, 2019, 08:30 ET
CAMBRIDGE, Mass., Oct. 28, 2019 /PRNewswire/ -- EverQuote, Inc. (NASDAQ: EVER), a leading online marketplace for insurance shopping in the U.S., is pleased to announce a partnership with Bold Penguin on the launch of its commercial lines marketplace.
Bold Penguin is an insuretech innovator that increases speed-to-bind for commercial insurance through platforms that enhance connections between customers, agents, and carriers - reducing friction in the buying process. EverQuote will leverage Bold Penguin's terminal and exchange infrastructure to rapidly accelerate its path to market while growing the market opportunity for online commercial insurance shoppers and providers.
"We admire the technology and data platform that Bold Penguin has built to solve the biggest challenge in commercial lines insurance distribution today. We have great respect for Ilya, Ben and their team, and believe that working together we will have a larger impact on the commercial insurance landscape," said Seth Birnbaum, CEO of EverQuote.
EverQuote and Bold Penguin's partnership will benefit from a shared sense of vision to make insurance simpler and more efficient, ultimately getting more people the coverage they need. The partnership will also take advantage of unique assets and areas of expertise of the two companies.
"Bold Penguin was designed to be an enablement platform and EverQuote's ability to utilize the technology and execute has been exceptional,'' says Ilya Bodner Founder and CEO of Bold Penguin. "We're happy to power another initiative and work together to remove the inefficiencies in commercial insurance,'' Bodner added.
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," "continues" 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) our ability to grow our marketplace and launch innovative products to connect more insurance shoppers with the right policies for them; (3) the Company's ability to maintain or increase the amount providers spend per quote request; (4) the effectiveness of the Company's growth strategies and its ability to effectively manage growth; (5) the Company's ability to maintain and build its brand; (6) the Company's reliance on its third-party service providers; (7) 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; (8) the impact of competition in the Company's industry and innovation by the Company's competitors; (9) the Company's expected use of proceeds from its initial public offering; and (10) 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.
Investor Relations Contact:
Brinlea Johnson
The Blueshirt Group
212-331-8424
Or
Allise Furlani
The Blueshirt Group
212-331-8433
SOURCE EverQuote, Inc.
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