The insurance industry has always been a competitive landscape with companies selling directly to consumers or through agents. Consequently the main problem was never a lack of supply or variety, but rather an excess of providers, types of services, and fragmentation.
Just as a lack of competition in banking is bad for consumers, a wide variety of brands, products, and prices in insurance can also be a problem. Many companies, types of insurance coverage, and sales channels can be overwhelming to make a decision and even more given that insurance as a concept is already a complex issue.
But Basil Enan, Founder and CEO of CoverHound, is solving this by providing an online service that puts together the best companies, insurance products, and personal service.
CoverHound is an online insurance shopping and comparison website that is also integrated with a professional insurance agent service. In this way it is easy to shop and purchase insurance with all the necessary information to make an intelligent decision and the advice and continuous service of a broker.
In this interview Basil talks about his background and how CoverHound works: