The company’s book was purchased for $5.5 million
By Gia Snape
Goosehead Insurance has purchased Vivint Smart Home’s book of insurance business, which includes more than 15,000 insurance policies, for $5.5 million in cash.
The deal is part of an earlier deal between Goosehead, an independent personal lines agency, and Vivint, a smart home tech company.
“Consumer education and an exceptional client experience are at the heart of what we do at Goosehead,” said Justin Ricketts, executive vice president, technology and partnerships at Goosehead, in the deal announcement.
“We would like to extend to our new clients a warm welcome to the Goosehead family and look forward to providing them with the best service and care in the industry.”
Former Vivint clients can also access Goosehead’s digital agent platform for quotes. The Westlake, Texas-headquartered agency represents more than 150 insurers that provide personal and small commercial coverage.
Goosehead and Vivint enter ‘strategic partnership’
In April, Insurance Business revealed that Vivint Smart Home has left its insurance agency after selling it to NRG Energy. The company will continue its insurance strategy through a partnership model, it confirmed.
“To scale efficiently, we are moving to a partnership model to make the technology more widely available,” a Vivint spokesperson told Insurance Business.
Earlier this month, Vivint and Goosehead announced their strategic partnership, with the former offering in-house technology products to the latter’s insurance clients.
Ricketts said Goosehead plans to expand its partnership with Vivint through joint offerings through a wider selection of carriers.
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