AUSTIN, Texas — September 5, 2013 — Beginning today, drivers in Texas and California have a new way to compare car insurance rates across multiple providers. Insurance Zebra built a real-time comparison platform which allows consumers to compare industry-leading 33 insurance companies in less than 60 seconds. Users can compare anonymously without providing any contact information and begin seeing estimates by entering only two pieces of data.
Insurance Zebra has been quiet since first announcing their $1.5M seed financing round from Mark Cuban, Floodgate, and Silverton Partners back in October of last year. "We've spent a considerable amount of time assembling a team of former CEO's, CTO's, and VP's to make sure we had the proper talent capable of making this happen," says CEO and Founder Adam Lyons. "There’s a reason this hasn’t been done before today. It’s not easy. Insurance is a highly complex product to price, and we had the added challenge of designing a solution that made it simple. We’re bringing a new level of transparency to insurance, which US consumers have never had before."
Insurance Zebra compares 90% of the market in Texas and California, including top brands across every distribution channel. "Each state has different regulations as it relates to insurance," explains Joshua Dziabiak, Insurance Zebra's COO. "We wanted to tackle two of the largest states first before expanding nationwide. It was important for us that we had a comprehensive database of carriers for users to compare. We think everyone should be able to find the best deal, regardless of their demographic or driving history.” Insurance Zebra compares five times more carriers than any existing solution. The company's proprietary technology accounts for each state's unique regulations and the primary variables that affect a driver's premium the most.
A short period of alpha testing was previously available to drivers in parts of Texas. During this time, Insurance Zebra processed over 280,000 quotes and began selling policies.
This official release marks Insurance Zebra's first public product launch.
About Insurance Zebra
Insurance Zebra is a comparison platform for the insurance industry. Founded in 2012, IZ aims to bring simplicity to the insurance shopping experience through superior comparison products, a breadth of carrier partnerships, and innovative filtering options. Insurance premiums are adjusted in real-time as users input their information, helping to clarify what and how factors affect their rate.
Insurance Zebra’s investors include Mark Cuban, Floodgate, Silverton Partners, Birchmere Labs, and Swallow Point Ventures.