Seattle-based insurance technology company QuoteWizard today announced an agreement to acquire Ann Arbor-based RateElert Inc.’s insurance marketing assets and online insurance technology rate comparison platform, Ratekick.com.
The merger agreement has been unanimously approved by RateElert’s board of directors and allows QuoteWizard to expand its product offerings, reach a broader audience, and refine its marketing platforms.
As a privately-held insurance comparison marketplace, QuoteWizard says it has helped nearly 40 million clients find their ideal insurance policy since 2006. RateElert, a consumer insurance shopping site and technology company, was founded in 2009. The firm developed the online consumer platform Ratekick and its proprietary technology for the My Insurance Analyzer tool.
“Partnering with a fast-growing and successful company like QuoteWizard is a real honor,” says Brian Hannigan, co-founder and CEO of RateElert. “It’s a huge testament to our company’s employees and shareholders’ years of hard work building out an insurance technology platform and consumer brand for insurance shoppers seeking to save money with personalized coverage options. At the same time, it provides a scalable customer acquisition platform for our insurance carrier partners.”
The acquisition also expands QuoteWizard’s footprint as a consumer destination website for online insurance shoppers throughout the U.S.