Clearcover Teams with Experian to Deliver an Embedded Insurance Solution

The digital-first car insurance company deepens its relationship with Experian's auto insurance shopping solution to deliver a seamless embedded car insurance experience

CHICAGO, April 26, 2023 /PRNewswire/ -- Clearcover Insurance Company, the next-generation car insurance company, today announces it has launched an innovative embedded insurance solution in which consumers receive final, bindable quotes when they shop via Experian's^® auto insurance comparison shopping service. This initiative supports Clearcover's strategy to fuel growth in its distribution channels and complements Experian's consumer-centric approach to its products.

"We're redesigning the insurance playbook by streamlining processes and building new experiences and capabilities," said Clearcover CEO Kyle Nakatsuji. "We are grateful to Experian for putting their trust in us to develop solutions that improve their users' experiences."

Clearcover is investing in technology to meet market demand and support its mission to become the digital auto insurer of choice for modern drivers. Its partner-centric API allows users to comparison shop for auto insurance to find better rates without leaving the Experian site for final quotes. Launched last year, Experian's auto insurance offering furthers its mission to financially empower consumers by helping them potentially save hundreds of dollars on their current policy.*

"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."

"This integration is part of our customer-centric mission to provide hassle-free insurance," said Clearcover Chief Product and Innovation Officer Adam Fischer. "Our goal to empower consumers to make the smartest decisions at every step aligns with Experian's mission to help its customers improve their financial well-being."

On the heels of securing $153 million in Series E financing last November, Clearcover ramped up efforts to invest in and integrate new technologies and business strategies.

"Experian and Clearcover have a long-standing relationship," said Clearcover Head of Partner Distribution Chris Ritter. "This collaboration is a natural progression and we're looking forward to ensuring they have some of the smartest solutions on the market."

Clearcover, which currently offers auto policies in 19 states, is advancing an industry that continues to adapt and change. The company ranked No. 50 on the 2022 Deloitte Technology Fast 500 list and was named by InsurTech Magazine as a "Top 10 Insurtech Platform to Watch in 2022."

For more information on partnering with Clearcover, please visit clearcover.com/embedded.

To comparison shop for auto insurance at Experian, visit experian.com/auto.

About Clearcover

Clearcover is the 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.

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SOURCE Clearcover Insurance Company