The digital revolution continues to play out in the car insurance field with news that car insurance comparison company Compare.com has raised $35 million from investors including former Admiral Group CEO Harry Engelhardt and his wife.
According to a press release:
Founded in 2013, the company has raised a total of $185 Million to date making it one of the largest investments in the rapidly growing Insuretech category.
Investors for this raise include former Admiral Group CEO, Henry Engelhardt and his wife, whereby they will invest $25 Million into Compare.com. As a result of this investment, Henry will join the Compare.com Board of Directors.
Separately, Admiral Group, a founding investor, has provided Compare.com a $10 Million convertible loan instrument. Andrew Rose, CEO of Compare.com, commented, “We are delighted to secure this investment and we look forward to working closely with Henry, who has deep knowledge of Compare.com and the U.S. market.”
The investment is part of a flood of money pouring into technology companies that have gotten involved in the car insurance business. While such investment is important, so is the expertise of an agent when it comes to car insurance.
At Seeman Holtz Property & Casualty, we believe in providing each individual with not only the right insurance, but with the right service to meet your needs. We are an independent Boca Raton based national insurance agency offering major insurance carriers across the country, featuring all lines of personal and commercial insurance with unrivaled attention to client service.
When it comes to car insurance, we start by analyzing your current auto insurance policy and offer independent, objective advice. If in fact changes need to be made, or if you need a brand new policy, we will secure quotes from the best national auto insurance carriers across the nation to make sure you receive the most extensive coverage at the best rates possible.