Online insurance shopping site CoverHound launches new portal for SMBs
CoverHound, a site that lets people compare and purchase insurance online, is rolling out a new product tailored to small businesses.
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Based in San Francisco, Calif., CoverHound bills itself as an insure-tech company, and so far, its platform has catered to individuals looking for home and auto insurance policies.
The company was one of Google's initial platform partners when it launched the online comparison shopping portal Google Compare two years ago, although the tool was shuttered in March.
With its new small business suite, CoverHound is shifting into commercial insurance territory, targeting businesses with fewer than 20 employees. The purchase process is all done through licensed insurance advisors and the quoting portal works on both desktop and mobile.
Right now the site has coverage plans from Chubb, Liberty Mutual, Berkshire Hathaway Direct, Hiscox, Progressive, and employers. Businesses can choose from general liability, professional liability, business owners policy package (BOP), workers' compensation, commercial auto, and cyber insurance.
CoverHound plans to go live with its CyberPolicy.com website later this year, which will let small businesses shop for cyber insurance and cybersecurity tools together. Considering the crowded market of online insurance providers (Insureon, CoverWallet, and an offshoot of Berkshire Hathaway are just a few CoverHound competitors), the move to cyber insurance could end up being a big differentiator for CoverHound down the line.