Markets/Coverages: Clearcover, Experian Team on Embedded Auto Insurance Solution
Digital car insurer Clearcover Insurance Company, said April 26 that it launched an embedded insurance solution in which consumers receive final, bindable quotes when they shop on Experian’s auto insurance comparison shopping service.
The initiative supports Clearcover’s strategy to fuel growth in its distribution channels and complements Experian’s consumer-centric approach to its products.
“We are grateful to Experian for putting their trust in us to develop solutions that improve their users’ experiences,” said Clearcover CEO Kyle Nakatsuji. Clearcover said it is investing in technology to meet market demand and support its mission to become the digital auto insurer of choice for modern drivers. The insurer said it ramped up efforts to invest in and integrate new technologies and business strategies after a round of Series E financing last November. It currently offers auto policies in 19 states.
“Working with a tech-enabled carrier is a win-win,” said Rakesh Patel, general manager of Experian Insurance Services at Experian. “Clearcover is uniquely positioned to tailor the underlying embedded experience so that our customers can quickly and easily shop for auto insurance policies all in one place. When we can empower consumers to make positive changes effortlessly, Experian is achieving its goal of financial power for all.”
Clearcover’s API allows users to comparison shop for auto insurance to find better rates without leaving the Experian site for final quotes.