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Online insurance marketplace laying off Indiana workers

INDIANAPOLIS (WISH) — According to a WARN notice provided to the state of Indiana, an online insurance marketplace is laying off 98 workers in Evansville.

The layoffs by EverQuote are expected to begin Aug. 28.

EverQuote cited a need to cut 15% of its costs in June and reported losing $24.4 million in 2022 and $2.4 million so far this year.

EverQuote is an online insurance marketplace that provides insurance policy quotes from multiple insurers such as Progressive, American Family and Liberty Mutual.

The company in part blames the slow-down of insurance carriers finding customers online.

“We remain committed to managing expenses throughout our operations. We expect this efficient cost structure will position EverQuote for growth and profitability when the auto insurance carriers return to their normal pattern of acquiring consumers through digital channels,” said Jayme Mendal, CEO of EverQuote in a press release.