Cambridge, Massachusetts-based EverQuote, an online insurance marketplace, has announced an organizational restructuring to reduce operating expenses, and that EverQuote will be exiting its health insurance vertical.
The exit will impact 98 employees, mostly Health Advisors and Medicare Advisors, located in Evansville, Indiana.
According to Jayme Mendal, CEO of EverQuote, “We are making the strategic decision to exit an area that requires significant capital investment and scale to effectively compete amid an increasingly unpredictable regulatory environment. We are confident that by increasing strategic focus on our core verticals and streamlining operations, we will position EverQuote to improve financial performance and build a stronger competitive position in our chosen markets.”
“Our team remains laser-focused on closely managing costs and driving operating efficiencies in the business. We believe that the actions we are taking to streamline our operations will better position EverQuote to drive more sustainable growth and deliver a greater return on capital investment.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?