Clearcover Expands Its Embedded Insurance Strategy

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Aug 22, 2023, 09:30 ET

The innovative technology solution "Choice" is the insurtech's latest launch amid a string of investments in its widening distribution channel

CHICAGO, Aug. 22, 2023 /PRNewswire/ -- Clearcover, a next-generation car insurance company, today announces the launch of "Choice," its embedded insurance solution that provides a customizable end-to-end auto insurance integration for brands.

The integration, powered by Clearcover's proprietary API-based technology platform, enables brands to seamlessly deliver price and policy comparisons from various carriers so customers can choose the option that offers the best value for them.

"Our goal at Clearcover is to provide our customers with the most convenient, affordable car insurance coverage, and 'Choice' enables us to do that with an even broader reach," said Clearcover CEO and Co-founder Kyle Nakatsuji.

By integrating with "Choice," brands across the financial services industry can provide eligible customers with a simple end-to-end experience that allows them to comparison shop for auto insurance carriers, including Clearcover Insurance Company.

"We're thrilled to expand our distribution reach to a whole new pool of potential customers by lending our 'insurance-in-a-box' digital solution to other brands," said Clearcover Chief Product and Innovation Officer Adam Fischer. "We are continuing to focus on meeting our customers where they are on their financial journeys and making it simple for partners to integrate our technology."

Goodcover, the fair and modern insurance provider, is the first company to integrate with "Choice" for Goodcover Auto. Launched this month, the service is designed to help eligible Goodcover policyholders find car insurance rates from top insurers to pair with their renters insurance.

"The 'Choice' platform plays a significant role in powering the backend of Goodcover Auto, seamlessly integrating Goodcover members' profiles and streamlining the quote process to make auto insurance selection more efficient," said Co-founder and CEO of Goodcover Chris Lotz. "This partnership helps Goodcover members take control of their financial goals and further strengthens our commitment to empowering renters."

Clearcover, which closed its Series E round of funding last November, has raised more than $480 million to date. The award-winning Insurtech recently announced moves to broaden its embedded insurance strategy.

"Choice" comes just several months after Clearcover launched an embedded insurance solution with Experian in which consumers receive final, bindable quotes when they shop for auto insurance via the company's comparison shopping service.

Book a demo of its platform at clearcover.com/embedded.

About Clearcover
Clearcover is a next-generation insurance company that provides customers with the technology they need to confidently make the smartest decisions at every step. Clearcover is challenging the status quo with hassle-free insurance that redefines what it means to put the customer first, delivering affordable car insurance with one of the industry's fastest claims experiences. Clearcover includes Clearcover, Inc., which was founded in 2016 by Kyle Nakatsuji and Derek Brigham, Clearcover Insurance Company (NAIC #16524) and Clearcover Insurance Agency. Clearcover has raised more than $480 million in funding to date. In 2022, the insurance fintech ranked No.50 on the Deloitte Technology Fast 500™ and No. 151 on the Inc. 5000 Fastest Growing Privately Held Companies in America. Clearcover has also been featured by Glassdoor as one of the nation's "Best Places to Work." For more information, visit Clearcover.com.

SOURCE Clearcover