Draft:QuoteWizard
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| Company type | Subsidiary |
|---|---|
| Industry | Insurance comparison |
| Founded | 2006 |
| Founder | Scott Peyree |
| Headquarters | Seattle, Washington, U.S. |
Area served | United States |
Key people | Scott Peyree (President) |
| Parent | LendingTree (2018–present) |
| Website | www |
QuoteWizard is an American online marketplace that allows consumers to compare rates for auto, home, renters, health and life insurance from multiple carriers.[1] Founded in Seattle in 2006, the company was acquired by financial-services platform LendingTree in 2018 for up to US$370 million, and now operates as LendingTree’s insurance division.[1]
History
[edit]Founding and early growth (2006–2017)
[edit]Software entrepreneur **Scott Peyree** launched QuoteWizard in 2006 after working in online marketing.[2] The privately held startup was bootstrapped by Peyree and family members and grew to link thousands of insurance agents with consumers nationwide. An Inc. magazine profile listed QuoteWizard as the fastest-growing insurance company in the United States in 2010.[3]
Acquisition by LendingTree (2018)
[edit]On 4 October 2018, LendingTree announced a definitive agreement to purchase QuoteWizard for an initial US$300 million in cash plus up to US$70.2 million in earn-outs tied to performance targets.[4][1] At the time of the acquisition QuoteWizard reported US$75.6 million in revenue for the first half of 2018 and employed about 150 people.[1]
Operations under LendingTree (2019–present)
[edit]QuoteWizard continues to operate from its Seattle office as LendingTree’s insurance lead-generation arm. Its proprietary platforms distribute insurance leads to national carriers and a network of independent agents. The company also publishes consumer-oriented insurance research, which is frequently cited in national media coverage (see § Research).
Research and industry analyses
[edit]- Flood insurance. A 2021 QuoteWizard analysis of FEMA’s “Risk Rating 2.0” projected that 77 % of National Flood Insurance Program policyholders would see premium increases, a finding reported by Reuters.[5]
- Auto-insurance affordability. In 2022, Property-Casualty360 highlighted a QuoteWizard study showing one in three U.S. drivers struggled to pay for auto insurance amid inflation.[6]
- Housing costs. A 2023 Axios Seattle report cited QuoteWizard data indicating local rents had risen 21 % since 2021.[7]
2024 Snowflake-related data breach
[edit]In June 2024 TechCrunch reported that a breach of cloud-storage provider Snowflake led to the theft of data from several customers, including LendingTree’s QuoteWizard subsidiary. LendingTree said preliminary investigations indicated no consumer financial-account data were affected.[8]
See also
[edit]References
[edit]- ^ a b c d Simpson, Andrew G. (5 October 2018). "LendingTree to Buy Online Insurance Service QuoteWizard for $370M". Insurance Journal. Retrieved 8 June 2025.
- ^ Soper, Taylor (28 March 2016). "Inside QuoteWizard: Seattle online insurance marketplace quietly building a $100M business". GeekWire. Retrieved 8 June 2025.
- ^ "America's Fastest-Growing Insurance Company". Inc. September 2010. Retrieved 8 June 2025.
- ^ Dougherty, Connie (4 October 2018). "Online insurance marketplace QuoteWizard sells to LendingTree in massive $300M deal". GeekWire. Retrieved 8 June 2025.
- ^ Kerber, Ross (21 September 2021). "U.S. flood insurance rates to rise for 77% of policyholders – study". Reuters. Retrieved 8 June 2025.
- ^ Jefferson, Elana Ashanti (25 August 2022). "One in three U.S. drivers now struggle to pay for auto insurance". PropertyCasualty360. Retrieved 8 June 2025.
- ^ Rosenberg, Melissa (19 May 2023). "Seattle rent skyrockets from early pandemic". Axios. Retrieved 8 June 2025.
- ^ Whittaker, Zack (7 June 2024). "What Snowflake isn't saying about its customer data breaches". TechCrunch. Retrieved 8 June 2025.
External links
[edit]