Goosehead Insurance, an independent personal lines insurance agency, has acquired Vivint Smart Home’s insurance book which includes more than 15,000 policies for $5.5m in cash.
Vivint Smart Home is a leading smart home company in the US. Goosehad Insurance is a rapidly growing and independent personal lines insurance agency that distributes its products and services throughout the US. The company was founded on the premise that the consumer should be at the “centre of our universe.”
Last month, Goosehead Insurance announced its partnership with Vivint. As part of the partnership, Goosehead also entered into a letter of intent to acquire Vivint Insurance Agency’s current book of business and provide service and support for Vivint’s insurance clients as Vivint shifts its insurance strategy to a partnership model.
The collaboration, according to Goosehead, will simplify the process of protecting and securing homes for consumers and help them to reduce claims and losses.
This purchase allows Goosehead Insurance to accelerate growth and will also provide significant benefits to existing Vivint insurance clients. Through Goosehead’s extensive product portfolio, distribution, technology, and exceptional service, the company said it is well-positioned to provide a seamless transition for existing Vivint clients to ensure they have the right coverage.
Justin Ricketts, executive vice president, technology and partnerships at Goosehead Insurance, said “Goosehead has a tremendous opportunity to accelerate Vivint’s momentum as the combination of our technology, product offerings, and outstanding agents offer the best client experience in the industry.
“Consumer education and an exceptional client experience are at the heart of what we do at Goosehead. We would like to extend our new clients a warm welcome to the Goosehead family and look forward to giving them the very best service and care in the industry.”
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