Clearcover expands its embedded insurance strategy

Mobility
29/08/2023 News

Clearcover, a next-generation car insurance company, 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.

Related news & insights

Insurance
20/05/2024 News

AXA and the Universal Postal Union (UPU) join forces to advance inclusive insurance through postal networks

This collaboration aims to use the extensive reach and trust of postal services to offer financial protection to underserved populations.

Insurance
20/05/2024 News

Marsh introduces insurance solution for EU crypto-asset service providers

This solution is designed to help providers comply with the Markets in Crypto-Assets Regulation (MiCA), which will take effect on...

Insurance
20/05/2024 News

Clearcover and Ada collaborate on customer-facing AI solution

This collaboration aims to revolutionize Clearcover's customer service experience by integrating Ada's 'AI Agent' into its platforms.

Insurance
19/05/2024 News

Sun Life launches innovative insurance solution for Canadians living with diabetes

This industry-first offering provides a higher chance of approval, affordable premiums, and personalized care to empower individuals with diabetes.

Insurance
16/05/2024 News

Manulife and John Hancock partner with MIT AgeLab for longevity research

The partnership aims to advance longevity innovation through research, thought leadership, and workshops, providing insights for businesses, policymakers, and individuals.

Digital Reinvention
15/05/2024 Article

Financial innovation spotlight: May 2024 edition

We have selected five new innovative projects that we found particularly interesting. A world tour that takes in France with...

Digital Reinvention
14/05/2024 News

Nirio launches Premio with FDJ: Simplifying everyday banking

Since January 2023, Nirio's payment solution has allowed individuals to pay for daily expenses in nearly 10,000 partner stores approved...

Open Finance
14/05/2024 News

Cwallet introduces zero-fee transactions for IDR and crypto trading

This innovative development aims to transform the way users interact with both fiat and digital currencies, enhancing their trading experience...