Online insurance marketplace EverQuote, Inc., is expanding its marketplace to include health insurance and renters insurance, building on its existing auto, home and life insurance marketplace offerings.
By expanding its marketplace, EverQuote said it is striving to “use data and technology to make finding insurance easy and more personal, saving consumers and insurance providers time and money,” the Cambridge, Mass.-based company said in a late June press release.
From first-time renters to Baby Boomers eligible for Medicare, EverQuote said it helps consumers at all stages of life as it seeks to become the destination for insurance shoppers and providers.
EverQuote’s health insurance marketplace
Health insurance and Medicare are complex products with multiple policy choices that can be confusing. As more internet-savvy consumers age into Medicare, they are looking for online sources to research and find insurance.
According to a recent eHealth Medicare Online Enrollment Trends study, 22% of all Medicare Advantage and Medigap enrollments occurred online in the fourth quarter of 2018, compared to 13% in the fourth quarter of 2017, an increase of 69%.
EverQuote said its health insurance marketplace helps consumers navigate the complicated process of purchasing a non-employer provided health or Medicare plan by connecting them to the “right insurers” via online or offline options.
EverQuote’s health insurance marketplace launch is in advance of the annual Open Enrollment periods in the fall.
EverQuote’s renters insurance marketplace
EverQuote’s renters insurance marketplace benefits shoppers who are interested in easily shopping for insurance protection for their personal property. EverQuote will help shoppers find options, connect with insurance providers, and save money on renters insurance.
Based on consumer surveys, drivers who purchased a new auto insurance policy through EverQuote saved an average of $610 per year*, and EverQuote expects to help consumers get the right coverage for them and find savings in these new verticals as well.
“We are excited to launch the health and renters insurance verticals as we continue to play a growing role in empowering consumers to better protect life’s most important assets, and the inclusion of health and renters insurance are both natural extensions of our insurance marketplace for consumers and providers,” said Seth Birnbaum, CEO and Co-Founder of EverQuote.
Consumers can access the new options at EverQuote.com.
“22% of all Medicare Advantage and Medigap enrollments occurred online in the fourth quarter of 2018”
What counts as on-line?