Brown & Brown expands into digital insurance marketplace with CoverHound acquisition

US broker Brown & Brown has acquired CoverHound, a digital insurance marketplace for individuals and small businesses, and its wholly owned subsidiary CyberPolicy.

Following the deal, CoverHound will continue to operate independently under Brown & Brown and will focus on scaling digital partnerships with trusted brands.

Steve Boyd, senior vice president of technology, innovation, and digital strategy, Brown & Brown, said: “We see CoverHound as an important platform for Brown & Brown’s expansion into the digital insurance marketplace while at the same time helping our traditional businesses to continually deliver an exceptional customer experience. By combining CoverHound with our expertise and market strength, we will be able to meet more customers where they are and provide them with the appropriate coverage for their unique exposures."

Keith Moore, chief executive of CoverHound, said: “We’re thrilled to become part of Brown & Brown, an exceptional company with an entrepreneurial spirit. Combining Brown & Brown’s strong carrier relationships with our proven marketplace technology will offer customers best-in-class curated choice and digital simplicity. The acquisition strengthens what has always been our mission: delivering fast, accurate and actionable options online to customers based on their specific insurance needs, anytime, anywhere.”