Compare.com

Compare.com
Technology & Insurance
Industry Insurance
Founded 2013
Founders Andrew Rose
Headquarters Richmond, Virginia, USA
Number of employees
 60
Website http://www.compare.com

Compare.com (formerly Comparenow.com) is a comparison shopping website for intangible products, most notably car insurance, with headquarters in Richmond, VA. Compare.com is a sister company of Confused.com, the United Kingdom's first car insurance comparison site, which is also owned by Admiral Group, plc.[1] Insurance carriers on the compare.com panel are contractually obligated to honor the rate presented on compare.com’s site, as long as the user’s information is correctly entered. Compare.com charges the auto insurer on a cost-per-sale basis. [2]

History

Compare.com was launched in 2013, with the majority of its financial backing from Admiral Group. Other investors include Mapfre, which owns 6.77% and White Mountains Insurance Group, the former owners of Esurance, which owns 22.13%. [3] Compare.com's President and CEO, Andrew Rose, founder and former CEO of Elephant Insurance, worked at Countrywide and Progressive prior to launching compare.com .[4] When compare.com began delivering quotes to customers, they did so with partnerships with five carriers.[5] As of March, 4, 2016, compare.com now works with over 60 carriers to deliver more insurance comparisons to customers. [6]

Relationship with Google

In January 2015, the New York Times revealed that Compare.com had formed a partnership with Google, offering them access to Compare.com’s panel of carriers in exchange for a share of the royalties paid by the carrier.[7] They join Coverhound[8] and Bolt Solutions in partnering with Google's platform.[9]

Compare.com worked with Google Compare for the duration of their existence in the American car insurance comparison market, until Google Compare announced that they will be withdrawing their service from the market.[10]

Operations

Compare.com operates under primary ownership of Admiral Group, Plc, which operates 14 brands in seven countries. Other companies owned by Admiral include: [11]

National Advertising Campaign

In February 2016, compare.com began advertising their service nationally.[12] The advertising campaign features Agent Compare, who works in an underground facility to bring high-tech solutions to the auto insurance industry. Agent Compare promises to 'Save Humanity from high insurance rates, one human at a time."


References

  1. ↑ "Confused.com overhauls brand in search of 'expert' positioning". Marketing Magazine. 2013-05-29. Retrieved 2015-03-26.
  2. ↑ Blackwell, John Reid (2014-03-10). "Comparenow trying to change the way consumers buy auto insurance". Richmond Times Dispatch. Retrieved 2014-05-11.
  3. ↑ Jergler, Don (2016-03-03). "Compare.com CEO Encouraged by Admiral Group's Record 2015 Profit". Insurance Journal.
  4. ↑ "Getting to know: Andrew Rose from Elephant Insurance". Richmond Times Dispatch. 2011-05-28. Retrieved 2015-03-26.
  5. ↑ Jergler, Don (2016-03-03). "Compare.com CEO Encouraged by Admiral Group's Record 2015 Profit". Insurance Journal.
  6. ↑ O'Connor, Amy (2015-03-15). "Compare.com Confirms Partnership with Google Insurance Comparison Site". Insurance Journal.
  7. ↑ Dougherty, Conor (2015-01-15). "New Clues on Google's Plans for Insurance". New York Times. Retrieved 2015-03-19.
  8. ↑ Marvin, Ginny (2015-03-10). "As Google Enters Auto Insurance Market, Comparison Sites React; Agency Partner Raises Financing". Marketing Land. Retrieved 2014-05-11.
  9. ↑ McMahon, Chris (2015-03-24). "Bolt and Compare.com Partner with Google Compare". Insurance Networking News. Retrieved 2014-05-11.
  10. ↑ Jergler, Don (2016-02-23). "Google to Shut Down Online Insurance Site, Partners Say". Claims Journal.
  11. ↑ "Parent Company's Subsidiaries". Admiral Group plc.
  12. ↑ Blackwell, John Reid (2016-02-12). "Compare.com starts national ad campaign". Richmond Times-Dispatch.
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