Clearcover is launching a new embedded insurance solution for car insurance providers, lending brands their white-label insurance solution
Embedded insurance company Clearcover is launching a new embedded insurance solution that gives customizable, end-to-end car insurance integration for non-insurance brands.
Part of the rising tide of embedded options that are changing the way insurance is delivered, the new product is powered by Clearcover’s proprietary API-based technology platform. This will allow brands to embed insurance cover directly into their existing ecommerce checkout flows.
Clearcover’s API provides clear price and policy comparisons between multiple carriers, allowing customers to choose the option that best suits them – without having to scour for cover separately themselves.
The first company to integrate with Clearcover Choice is Goodcover, which is launching a new service designed to help eligible policyholders to find car insurance rates from top insurers to go with their renters’ insurance.
Clearcover pedals out its ‘insurance-in-a-box’ solution
Clearcover’s latest product comes just nine months after the company raised US$480m in a Series E funding round. It was founded by Kyle Nakatsuji, who graduated law school but was, at his own admission, the “worst lawyer” before starting Clearcover with insurance industry veteran Derek Brigham in 2016.
“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,” Nakatsuji says about their latest product launch.
“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,” adds 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 Co-Founder and CEO Chris Lotz continues: “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. This partnership helps Goodcover members take control of their financial goals and further strengthens our commitment to empowering renters.”