Compare.com
Real, unbiased car insurance quotes and side-by-side comparison help you find the best value on car insurance.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
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Compare.com operates as an online insurance comparison platform, enabling individuals to evaluate and purchase policies. The company, headquartered in Richmond, Virginia, was established in 2013 by Andrew Rose. Initially launched as Comparenow.com, it was founded with the primary financial backing of the UK-based Admiral Group, a prominent insurance company. Andrew Rose, a chemical engineering graduate from Virginia Tech with an MBA from the University of Virginia's Darden School of Business, held various roles at companies like Progressive and Bank of America before leading Compare.com.
The platform allows consumers to fill out a single form to receive multiple, real-time quotes from a panel of licensed insurance carriers. These partner insurers are contractually obligated to honor the rates presented, provided the user's information is accurate. The business model primarily generates revenue through commissions from its partner insurers when a user purchases a policy via the site. This is typically done on a cost-per-sale basis. The company emphasizes that it does not sell user data to third parties.
Originally focused on auto insurance, Compare.com works with over 60 carriers to provide side-by-side quote comparisons. Over the years, the platform has expanded its offerings to include comparisons for home insurance, healthcare services, and mobile plans. A significant milestone occurred in March 2023 when the virtual insurance agent Insurify acquired Compare.com. Despite the acquisition, the Compare.com brand was maintained, and its founding investor, Admiral Group, retained a minority stake in the newly combined entity. As part of this transition, then-CEO Allie Feakins, who had been with the company since 2013 and took the helm in 2020, moved into a senior leadership role at Insurify.
Keywords: auto insurance comparison, insurance marketplace, Insurtech, online insurance agent, car insurance quotes, policy comparison, Admiral Group, Insurify, personal insurance, financial services, insurance shopping, multi-carrier quotes, rate comparison, insurance technology, direct-to-consumer insurance, vehicle insurance, home insurance bundles, insurance lead generation, customer acquisition, cost-per-sale model