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Jul. 7, 2020
How summer travel is changing

Watch our Head of Driver Insights, Ariana Gibson, share insights with the Los Angeles-area about how summer travel is changing.

Jan. 13, 2020
How to be tech-friendly without losing the human element

Technology is a great amplifier. It amplifies the power of humans and allows us to scale our ambitions. At Clearcover, we take this belief to heart - and it is motivating us to build a smarter car insurance choice.

Jan. 3, 2020
Clearcover and Lemonade tout improving margins as they scale fundraising, ARR

On the heels of ARR milestones set by the well-capitalized Lemonade, another startup in the space, Clearcover, announced a new funding round this week... The company has raised around $104 million to-date.

Jan. 3, 2020
Clearcover raises $50 million to find you a vehicle insurance policy with AI

In anticipation of growth, Clearcover recently closed a $50 million series C financing round led by Omers Ventures. The capital infusion, which Nakatsujji says will enable growth by accelerating the expansion of Clearcover's geographic footprint.

Nov. 6, 2020
What today's drivers really think about their car insurance companies

Gary Drenik interviewed Ariana Gibson (Head of Driver Insights at Clearcover) about how technology has enabled them to serve customers and what trends they've seen in consumer shopping behavior.

Oct. 15, 2019
Local TV customers prepare for a frequency re-scan

Ariana Gibson (Head of Driver Insight at Clearcover) shared with Steve Grzanich a consumer study that broke down the way people look at car insurance these days and how autonomous vehicles could change the industry going forward.

Sep. 21, 2019
A snapshot: Today’s car insurance customer

Today’s car insurance customers are both savvy and highly motivated to protect their property.

Sep. 4, 2019
How Tesla's In-House Insurance Is Disrupting The Insurance Industry

We spoke to Kyle Nakatsuji, CEO at car insurance start-up, Clearcover about how Tesla is disrupting the insurance industry.

Aug. 28, 2019
Car insurance military discount

If you are a California or Illinois resident you can take advantage of the coverage options and military discount provided by Clearcover.

Jul. 24, 2019
Insurance expert Q&A with Clearcover CEO Kyle Nakatsuji

We strive to design and build an efficient processes so our customers can enjoy quality, convenience, and cost-savings.

May 14, 2019
Life in the fast lane: How Clearcover's employees are growing alongside a massively-scaling team

Just as Clearcover is sprouting upward as a company, employees are also experiencing that skyward growth: The company frequently promotes from within — including two members featured below — and encourages staff at every level to take initiative.

May 2, 2019
Building a new insurance company from scratch: Clearcover CEO Kyle Nakatsuji

The insurance industry is archaic and offers much room for re-engineering. Kyle discusses how he is going about it.

Mar. 25, 2019
Clearcover slims operating costs so consumers save money on insurance

Kyle Nakatsuji (Co-founder and CEO of Clearcover, Inc.) explained to Steve Grzanich how the whole idea of their car insurance company is to keep operating costs slim so customers can save money compared to other large industry players.

Feb. 20, 2019
This actor is saving more than $1,100/year — just by switching car insurance

All he wanted was the same insurance coverage without the ridiculous cost. “I came across Clearcover, and they gave me a quote for the exact same insurance for $146,” he says.

Feb. 19, 2019
Tech, process, people: 5 Chicago product leaders share what makes their teams unique

We are constantly pushed to deliver the best customer experience on a tight budget. Even as we grow, we’ll always stick to the mantra of doing more with less, because the more we can save, the more our customers can save.

Jan. 25, 2019
Another disrupter - this one is in car insurance

Using technology to file insurance claims is not new or unique. Getting two-thirds of your customers to use it is. That's what Kyle Nakatsuji has managed with his company, Clearcover.

Jan. 22, 2019
This Chicago tech company just raised $43M and is about to take on car insurance in the land of Allstate and State Farm

This is Clearcover’s second round of funding, bringing its total amount of investments raised to $54.5 million. Atlanta-based Cox Enterprises, which owns Kelly Blue Book, led the round.

Jan. 22, 2019
Chicago’s Clearcover, which uses AI to market auto insurance, raises $43 million

Former American Family Insurance employees Kyle Nakatsuji and Derek Brigham are the cofounders of Clearcover, who saw a way to use technology to offer better customer service and lower prices when they founded the company in 2016.

Jan. 22, 2019
Clearcover raises $43M in Series B

Clearcover is focused specifically on the auto industry, and is aiming to make purchasing car insurance more efficient and less expensive.

Nov. 23, 2018
Forgiveness isn’t free—and it raises your insurance costs

“If you want accident forgiveness, you’ll pay for it in some way,” says Kyle Nakatsuji, CEO of auto insurance startup Clearcover, based in Chicago. Even with companies that don’t charge for it, “the cost is typically already baked into your insurance rates.”

Oct. 29, 2018
New car insurance companies that are changing the industry

Unlike Root, Clearcover doesn’t require customers to have their driving tracked and measured. Instead, the company saves money by ditching all the extras.

Oct. 10, 2018
CNBC unveils its annual list of 100 promising start-ups to watch

The Upstart 100 is CNBC's exclusive list of promising young start-ups, featuring a diverse group of companies that are building brands and breaking industry barriers on the path to becoming tomorrow's household names. And Clearcover made the list!

Sept. 27, 2018
Does bundling insurance mean you’ll save a bundle? Not always

“The reality is that the insurer who can provide you the lowest-cost home insurance is most likely not the one who can offer you the lowest-cost auto insurance,” says Kyle Nakatsuji, CEO of Clearcover, an auto insurance startup.

Sept. 12, 2018
Clearcover expands insurance API offerings

"Selling auto insurance is a complex process. That’s why the industry has been relying on the same distribution methods for the last 30 years. Unfortunately, those methods have failed to keep up with rapidly changing consumer behaviors,” said Adam Fischer, VP of Product at Clearcover. “We designed our APIs with two goals in mind: help make the purchasing process easy and cost-effective for our customers, and help make the integration process seamless for our partners so they can easily tap into the $231 billion US auto insurance market."

Sept. 12, 2018
Introducing the Clearcover API, making car insurance available anywhere

As vehicle ownership and capabilities change, we need insurance technology that can change with it.

August 29, 2018
Heartland Tech Weekly: Midwest insurance tech startups show promise

Kyle Nakatsuji, the CEO of Clearcover, another venture-backed car insurance startup in the Midwest, used to be a VC with American Family Insurance.

August 15, 2018
How do you hire the right person? The strategy that changed one company

When my company, Clearcover, was just two people, we implemented a methodology centered on two principles: culture fit and superpower. And while our tactics evolve to fit our growing company, these same principles still drive our hiring.

July 8, 2018
Universities and legacy industries are giving rise to the Midwest’s AI startups

Clearcover has developed an algorithm that helps it advertise to potential customers during what it calls “moments that matter” — when a consumer is shopping for a car or looking at ways to save money.

May 10, 2018
Use these strategies to maximize productivity -- without inventing an extra weekday

At Clearcover, we use an Objectives and Key Results (OKR) framework for goal setting at every level -- from company strategy all the way down to weekly priorities.

May 7, 2018
26 digital insurance innovators to watch

The company began selling policies in California this last February and reached a premium run rate of over $16M in less than 90 days.

April 25, 2018
60 days in California, 1,500 new customers, and millions in savings.

People have switched to Clearcover from just about every insurance company you can think of; Allstate, State Farm, Mercury, Farmers, Progressive and more.

April 23, 2018
High tech insurance companies use AI to lower rates, increase convenience

When I compared my rates Clearcover was less than the competition and very close to what I was paying but for even more coverage. Right now the Chicago-based startup is offering car insurance in California with plans to expand to other states soon.

April 10, 2018
Debunking 3 of the biggest myths about Midwest tech

Midwestern states like Minnesota, Ohio, Wisconsin, and Illinois are fostering B2C upstarts....Clearcover and Root Insurance have managed to redesign the car insurance experience, each in its own way.

March 19, 2018
Why should you pay for insurance company ads?

Kyle Nakatsuji, the CEO and co-founder of Clearcover, wants to change how car insurance is marketed and sold.

March 12, 2018
3 ways millennials can find the best car insurance companies

If you stick with the insurance company your parents use out of convenience, you might not get the best deal. “Just because an insurance company was good for your parents doesn’t mean it’s good for you,” said Nakatsuji.

February 28, 2018
Auto insurance rates climb as number of cars, distractions rise

“Insurance, for people with cars, is a compulsory product,” said Kyle Nakatsuji, chief executive officer of Clearcover, an auto insurance start-up. “And there are a bunch of people in the U.S. who are paying too much for car insurance and have no idea.”

February 15, 2018
Auto insurance start-up Clearcover aims to save millions for overcharged drivers

Clearcover uses a proprietary distribution platform that targets consumers in the “moments that matter,” such as when you’re buying a car, shopping for better rates, or researching ways to save money. This moment-centric distribution strategy allows the start-up to save money on marketing, and funnel the savings back into the auto insurance product in the form of lower rates, Nakatsuji explained.

February 13, 2018
Hello, Californians

Today, we launched Clearcover car insurance in California. We started here because you really deserve a better option. There are 26 million licensed drivers in California (the most out of any state) and by our math, 80% of you could be overpaying for your car insurance. What’s worse? It’s not your fault.

January 31, 2018
3 modest predictions for transportation technology in 2018

Insurance companies that thrive won’t necessarily be the companies that start the earliest — there’s still too much uncertainty on what the future holds. Instead, the winners will be the companies that can adapt their organizations most quickly to capitalize on new realities as they become clear.

January 31, 2018
Seeking funding? Top investors reveal what they look for online before meeting business owners.

Venture capitalists typically start looking at businesses' and business owners' online presence before the first meeting to prepare, and continue to do so throughout the entire process, as they learn more about the networks of people and companies surrounding the company they're evaluating.

January 30, 2018
How thinking like an investor is the secret to launching a business

By no means is intentional contrarianism a new concept for investors (it was an important part of my investment philosophy as a VC at American Family Insurance.) However, I rarely find it in the typical entrepreneur's toolkit. And I believe that, when applied correctly, it can provide important guidance on building, pitching and growing a business. In fact, this risk vs. avoidance mindset framed my decision-making process for founding Clearcover.

January 12, 2018
Agile insurtechs driving change in car insurance ecosystem

The greatest advantage start-ups have is their agility and the absence of legacy,” explained Kyle Nakatsuji, co-founder and CEO of Clearcover, a new data-driven auto insurance start-up. “Incumbent carriers are constrained in a different way to start-ups. They have a lot of people and money to explore new avenues, but it’s much harder for them to stop doing something old [displacing their legacy] to drive innovation.

January 3, 2018
Why Clearcover is skipping Super Bowl ads to sell you car insurance

With its API-based integration system, Nakatsuji claims the process of onboarding partners interested in selling Clearcover’s insurance is cheaper and faster than its competitors. “The time it takes to get them setup to actually start selling our product is days, maybe weeks,” he said.

December 21, 2017
Bootstrapping in America

Clearcover is a data-driven auto insurance company built to provide customers with more affordable coverage. They are launching in January and have already raised over $11M in funding. They are more than ready to disrupt the auto insurance industry.

November 2, 2017
This is what disruptors should really fear

Clearcover is a startup focused on lowering car insurance costs by cutting past all the unnecessary charges that Big insurance companies may straddle you with. Nakatsuji’s startup is off to a hot start. They have raised over $11 million in its first year.

October 25, 2017
The best way to know it's time to start your own business

Kyle is the founder and CEO of Clearcover, an auto insurance startup that combines a data-driven platform with a minimalist customer acquisition approach to offer drastically reduced premiums. Instead of running expensive brand awareness campaigns (Howdy, gecko), Clearcover will only market to potential customers during highly-targeted windows.

September 28, 2017
Chicago-based Clearcover raises $11.5M to launch auto insurtech model

Clearcover uses a data-driven platform to integrate insurance “with moments when it matters” and applies modern technology to improve efficiency, saving customers up to 50 percent on car insurance, according to the company.

September 20, 2017
Insurance newbie bets on empathy over billion dollar ad budgets

“The biggest problem with the insurance industry isn’t a bad user experience, but that the big companies have failed to acknowledge how people feel about insurance, and that costs their customers billions. Most people want to think about insurance and their insurance companies less, not more.” The insurance industry spends more than $5 billion a year on advertising. Insurance Business Magazine reported that 'Advertising budgets among the nation’s auto carriers are particularly sizable and have helped push the insurance industry to the top of the 10 biggest US industries when it comes to growth in ad spending.' It said GEICO spent $6 of every $100 in premiums on advertising. Premiums pay for all that advertising."

September 19, 2017
Clearcover, a more strategic car insurance startup, lands big Lightbank investment

Launched in November 2016 by insurance veterans Kyle Nakatsuji, who helped start the venture capital team at American Family Insurance, and Derek Brigham, who has more than 25 years of industry experience, Clearcover uses a data-driven platform and a minimalist approach to offer drastically reduced premiums. Unlike Geico, Progressive and other leading auto insurance companies, Clearcover plans to avoid costly advertising campaigns and only market to potential customers during targeted windows.

September 19, 2017
Lightbank leads $11.5 million deal in Clearcover

Nakatsuji is betting that consumers, especially millennials, don't want to shop for insurance. They just want price and convenience, pointing to products like lending platform Affirm or mobile-payments service Venmo. "Insurance is boring," Nakatsuji said. "People don't want to think about insurance, so Clearcover's goal is to make it so easy to purchase so that people don't have to think about insurance.

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October 21, 2020
Clearcover Unveils Clear Claims™ -- The Fastest Digital Auto Insurance Claims Process

Powered by machine learning, Clearcover now issues payment for eligible claims in as little as 13 minutes

CHICAGO, IL -- October 21, 2020 -- Clearcover, the smarter car insurance choice, has announced Clear Claims, which advances the company’s digital claims process by offering drivers instant auto insurance claims processing and payment issuance for eligible claims faster than any other carrier. With the Clearcover app, once a claim is submitted, Clearcover automates coverage validation and determines eligibility instantly using a new machine learning model. Partnering with Snapsheet, a pioneer in cloud-native claims management solutions, this digital-first approach will make it possible for customers to have payment issued on eligible claims in as little as 13 minutes of submission -- an industry-leading claim adjustment turnaround time.

While many carriers average five to seven days to process claims, with the introduction of Clear Claims, Clearcover is the first insurer with the ability to process an auto claim instantly using machine learning. By using its proprietary artificial intelligence technology, ClearAI, Clear Claims ingests policy history along with First Notice of Loss (FNOL) information, while optimizing for the reduction of claim fraud.

Clear Claims integrates with the Snapsheet Claims platform to support end-to-end claims management. For eligible claims, this process replaces manual claim reviews, which typically require asking drivers to submit police report information and speak with claims adjusters, which can slow down the process. Once ClearAI has validated a claim and assessed risk of fraud, Snapsheet considers the Clearcover fraud score and triggers an automated, rule-based process to initiate payment of a claim, which further supports the digital claims experience.

"People expect filing a car insurance claim to be a painful and drawn out process. But at Clearcover we are committed to creating better insurance experiences, most importantly when you need to file a claim," said Kyle Nakatsuji, Co-Founder and CEO of Clearcover. "Clear Claims is the first of many enhancements we are building into our claims experience that will change the way people think about filing a claim. Our integration of machine learning lowers operating costs and enables us to offer our customers lower prices. It really is a win-win."

Clear Claims builds upon Clearcover’s digital-first approach and continues to support customers who prefer streamlined, digital experiences. This also adds to Clearcover’s digital innovations that have enabled it to reduce LAE costs in its model, the result of which is lower prices for customers and validation that economic improvements are being driven by digitizing historically analog processes.

For more information about the Clearcover Clear Claims offering, visit www.Clearcover.com/claims

About Clearcover

Clearcover is the smarter car insurance choice, offering better coverage for less money. Clearcover’s API-first approach enables customers to have great insurance at affordable rates. The company’s powerful technology coupled with their dedicated Customer Advocate team ensures a quality experience. Backed by one of the world’s biggest reinsurers and built for modern drivers, Clearcover makes it easy to get reliable car insurance in minutes.

To learn more, visit: https://clearcover.com/ Connect with us on Twitter: @Clearcover, Facebook: facebook.com/clearcoverinc or LinkedIn: https://www.linkedin.com/company/clearcover-inc./

Media Contact:
press@clearcover.com
949-533-6856

FOR PRESS INQUIRIES
press@clearcover.com

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August 26, 2020
Clearcover Expands C-Suite with Hire of Two New Executives

The car insurance start-up hires Norman Smagley as Chief Financial Officer and Vandana Venkat as Chief Insurance Officer.

Chicago, IL (August 26, 2020) - Clearcover, the smarter car insurance choice, today announced two new executive hires, Norman Smagley as Chief Financial Officer and Vandana Venkat, as Chief Insurance Officer.

Smagley has over 25 years of experience under his belt, serving as a Chief Financial Officer for a variety of both public and private equity-backed companies across industries including technology, financial services, pharmaceutical, retail, industrial, and publishing.

Prior to joining Clearcover, Smagley served as the Chief Financial Officer at Esono, where he helped more than double the company’s revenue through both acquisition and organic growth in just over a two year period. As the Chief Financial Officer and Executive Vice President of Gogo LLC, Smagley helped scale the company from under $100M to $700M in revenue. In the process, he built a world-class finance team and guided the company through its IPO. Prior to that, Smagley served for eight years as Senior Vice President and Chief Financial Officer of Rand McNally, where he orchestrated a pivot from publishing to digital products. He holds a master’s degree in finance and a bachelor’s degree in economics from The Wharton School of the University of Pennsylvania.

Venkat has more than 15 years of experience in the Property and Casualty insurance industry. Her recent roles include leadership positions at PURE Insurance, Allianz, and Progressive. Venkat has a proven track record of delivering results through building and developing high performing practices. Her areas of expertise include insurance product management, launching innovative products, direct marketing, and predictive analytics. She holds a master's degree from the University of Illinois in Applied Mathematics and Operations Research.

This announcement comes on the heels of another year of explosive growth for Clearcover. In January, the company closed a $50M Series C, bringing total funding to more than $104 million since its 2016 founding. Clearcover recorded sales growth of 120% year-over-year in Q2 of 2020, and is rapidly approaching the $100 million run rate milestone. In addition, the company continues to build momentum through COVID-19 as well, hiring upwards of 50 new full-time employees since March. The brand was also selected as one of the recipients of Inc.’s 2020 Best Workplaces Award.

“The opportunity in front of us is massive. To fully capture it, we need talent with great depth and experience,” said Kyle Nakatsuji, Co-Founder and CEO of Clearcover. “Norm and Vandana each add to that depth and will be key leaders in our organization as we scale our business and continue to deliver exceptional products and thoughtful experiences to our customers and partners. We’re particularly proud they have chosen to continue their already successful careers at Clearcover because both are also proven cultural leaders who share our passion for building great workplaces and developing team members at all levels.”

Based in Chicago, Clearcover has hired 120 new team members over the last 12 months. Clearcover targeted its hiring on leadership roles that would help the company achieve long-term strategic initiatives and would enhance an already strong corporate culture. The strength of the culture is a result of its commitment to its Core Values philosophy and its belief that in order to win in a competitive industry all team members must be naturally curious and have a bias towards action.

Today, Clearcover is available in Arizona, California, Illinois, Ohio, Louisiana, Texas, Utah, and Wisconsin, with further plans to expand in the coming months. The company is on a quest to build a digital insurance company for the digital customer to make insurance more convenient in the moments a customer needs it.

To learn more about joining Clearcover’s team, visit here: https://clearcover.com/careers/.

About Clearcover

Clearcover is the smarter car insurance choice, offering better coverage for less money. Clearcover’s customer-first, service-focused model powered by advanced technology delivers a convenient, reliable, and affordable experience. Built for today’s driver, Clearcover takes the guesswork out of car insurance, making it easy to save money, get insured, and get serviced on the go. Learn more at https://clearcover.com/ and keep in touch at @clearcover or visit https://www.facebook.com/Clearcoverinc/.

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August 25, 2020
Clearcover, a Leader in Car Insurance Tech Selects Detroit for New Customer Operations Hub

Plans to bring over 300 jobs, assisted by the Detroit Regional Partnership, Michigan Economic Development Corporation, and Detroit Economic Growth Corporation

DETROIT, Mich. Aug. 25, 2020 -- Following today's approval by the Michigan Strategic Fund, the rapidly growing insurance-tech company Clearcover announced their plans to hire up to 303 employees and establish a new customer operations hub in the City of Detroit, the company's first large-scale expansion outside of its Chicago headquarters.

Founded in 2016, Clearcover is a leading disruptor in the car insurance industry that has gained prominence for its technology-led business model and superior digital platform. The company has leveraged this core competency, along with an emphasis on customer service, to provide consumers with better coverage at lower prices and compete with some of the most well-established insurance brands in the market.

Clearcover chose Detroit after a months-long search process led by their site selection advisors at CBRE.

"Detroit’s resiliency and knack for innovation was evident throughout our search. Clearcover is excited about the opportunity to build meaningful partnerships in the city it will soon call home and ensure that our new presence provides real opportunity for Detroiters," said Heidi Craun, Michigan native and Clearcover Head of Customer Experience.

The Detroit Regional Partnership (DRP) first engaged with Clearcover as part of its Chicago Trade Mission in February 2020. This is when the DRP team learned that Detroit was going to be considered for the company's new customer operation hub and was engaged as the lead economic development agency to support the company's investigation of the Detroit market.

The Detroit Regional Partnership aligned with the Michigan Economic Development Corporation (MEDC) and Detroit Economic Growth Corporation (DEGC) to support the location search, including an impactful one-day market visit to Detroit in March. This visit also featured a testimonial and support from Rock Ventures and Bedrock.

"The Detroit Regional Partnership is incredibly excited to welcome Clearcover to the Detroit Region. Clearcover joins a community of innovators in the region who have utilized new technology to improve the customer experience in traditional financial services industry," said Maureen Donohue Krauss, President & CEO, Detroit Regional Partnership.

Due to the ongoing COVID-19 pandemic, Clearcover will be hiring and operating its new Detroit hub in a remote setting to ensure the absolute health and safety of employees. The company hopes to establish a formal, brick and mortar office in the city's central business district.

"I’m grateful for the partnership between the MEDC, DEGC and private sector partners to bring this exciting project across the finish line. Once the DRP discovered this opportunity, we acted fast to assemble a group of ambassadors that could best deliver Detroit's business case," said Will Butler, Senior Business Development Manager, Detroit Regional Partnership.

About Clearcover
Clearcover is the smarter car insurance choice, offering better coverage for less money. Clearcover's customer-first, service-focused model powered by advanced technology delivers a convenient, reliable and affordable experience. Built for today's driver, Clearcover takes the guesswork out of car insurance, making it easy to save money, get insured, and get serviced on the go. Learn more at clearcover.com.

The Detroit Regional Partnership is a public-private economic development organization focused on marketing and business attraction for the 11-county Southeast Michigan region. www.DetroitRegionalPartnership.com.

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May 06, 2020
Clearcover recognized as one of Inc. Magazine’s Best Workplaces 2020

The car insurance start-up is one of the highest-scoring businesses, with standout employee engagement

CHICAGO, Ill. Jan. 03, 2020 -- Clearcover, the smarter car insurance choice, has been named to Inc. magazine’s annual list of the Best Workplaces for 2020. Hitting newsstands May 12 in the May/June 2020 issue, the list is the result of a wide-ranging and comprehensive measurement of private American companies that have created exceptional workplaces through vibrant cultures, values-driven employee engagement, and stellar benefits.

After over 3,000 submissions, Inc. singled out 395 finalists for this year's list. Each nominated company took part in an employee survey, conducted by Quantum Workplace, on topics including trust, management effectiveness, perks, and confidence in the future. "Clearcover's culture is defined by our operating principles featured right on our website. We believe that behavior is a signal for values and that culture is defined by the behaviors we promote, encourage, or demand," shared Vikki Caruso, SVP of People for Clearcover. "I’m incredibly proud of the workplace that each of our employees has helped create. People feel personally represented, including our remote workforce, and everyone feels confident in our future despite current challenges. This accolade is a testament to the company's optimism and resilience; we're thrilled to have made the list."

"Building a great corporate culture comes only from strong leadership," says Inc. magazine editor-in-chief Scott Omelianuk. "The companies on Inc.'s Best Workplaces list are setting an example that the whole country can learn from, especially now, when company culture is more important to the workforce than ever."

To learn more about joining Clearcover's team, visit clearcover.com/careers/

About Clearcover
Clearcover is the smarter car insurance choice, offering better coverage for less money. Clearcover's customer-first, service-focused model powered by advanced technology delivers a convenient, reliable and affordable experience. Built for today's driver, Clearcover takes the guesswork out of car insurance, making it easy to save money, get insured, and get serviced on the go. Learn more at clearcover.com and keep in touch at @clearcover or www.facebook.com/Clearcoverinc/.

About Inc. Media
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

About Quantum Workplace
Quantum Workplace, based in Omaha, Nebraska, is an HR technology company that serves organizations through employee-engagement surveys, action-planning tools, exit surveys, peer-to-peer recognition, performance evaluations, goal tracking, and leadership assessment. For more information, visit QuantumWorkplace.com.

Media Contact:
press@clearcover.com
312-780-9614

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Jan. 03, 2020
Clearcover Insurance Raises $50 Million in Series C Funding Round

The auto insurance start-up furthers product innovation; completes strong 2019

CHICAGO, Ill. Jan. 03, 2020 -- Clearcover, the smarter car insurance choice, today announced that it has closed $50 million in Series C funding, led by OMERS Ventures. This round follows the company's $43 million Series B, which closed in January 2019, and brings Clearcover's total funding to more than $104 million since its 2016 founding. Previous investors American Family Ventures, Cox Enterprises and IA Capital Group also participated in the round. Michael Yang, managing partner at OMERS Ventures, will join Clearcover's board.

Clearcover will use the funding to continue building the technology powering its industry-leading cost efficiency and customer experiences. In addition, the new capital will allow Clearcover to accelerate growth by continuing its expansion in existing markets and launch in new states throughout the U.S., and integrating additional distribution channels in the automotive and financial services space. The team will double its current headcount across product, engineering and data science with local and remote options.

"The market is taking notice of how Clearcover is redesigning the model of running an insurance company in further service of customers. OMERS Ventures brings a wealth of resources and experience to support scaling our business, making them the ideal partner as we take on the next stage of growth," said Kyle Nakatsuji, Co-Founder and CEO of Clearcover. "This investment enables us to continue delivering better coverage – for up to 230 million licensed US drivers – for less money."

"We are excited to support Clearcover's mission to disrupt the future of auto insurance," said Michael Yang, managing partner at OMERS Ventures. "Clearcover's business strategy and technology foundation for sustaining a long-term competitive advantage, combined with its vision for the modern customer experience, is incredibly compelling. We believe in Kyle Nakatsuji and the entire Clearcover team to revolutionize the insurance industry and deliver significant value for their customers."

In 2019, Clearcover tripled policy sales year over year while quadrupling premium. Currently available in Arizona, California, Illinois, Ohio and Utah, Clearcover is on a quest to become a full-stack carrier in all 50 states and expand its partnership footprint to make insurance more convenient when a customer needs it.

About Clearcover
Clearcover is the smarter car insurance choice, offering better coverage for less money. Clearcover's customer-first, service-focused model powered by advanced technology delivers a convenient, reliable and affordable experience. Built for today's driver, Clearcover takes the guesswork out of car insurance, making it easy to save money and get insured in minutes. Learn more at clearcover.com and keep in touch at @clearcover or www.facebook.com/Clearcoverinc/.

About OMERS
OMERS is one of Canada's largest defined benefit pension plans, with $97 billion in net assets as of December 31, 2018. With employees in our offices in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe, OMERS invests and administers pensions for more than half a million active, deferred and retired employees of 1,000 municipalities, school boards, libraries, police and fire departments, and other local agencies in communities across Ontario.

OMERS Ventures currently manages $1 billion and has made more than 45 investments in disruptive technology companies across North America and Europe. www.omersventures.com.

Media Contact:
press@clearcover.com
312-780-9614

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Jan. 22, 2019
Clearcover car insurance raises $43M in Series B funding

Technology start-up plans for state expansion, product enhancements and new partnerships

CHICAGO, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Clearcover, the smarter car insurance choice, announced today a Series B financing round of $43M led by Cox Enterprises, the media, communications and automotive services company. Additional investors include American Family Ventures, IA Capital Group, Lightbank, and Hyde Park Angels, while Silicon Valley Bank provided debt financing. Clearcover’s technology-driven approach, including its industry-first API platform, has enabled the company to provide high-quality, affordable car insurance to thousands of drivers since launching in early 2018.

“It’s gratifying to see our customer-focused, technology-driven business model resonating with the market and we’re excited to partner with Cox Enterprises on our mission to provide millions of drivers across the US with better insurance experiences and lower prices,” said Kyle Nakatsuji, CEO of Clearcover. “We’ll use the funding to further invest in our API platform, launch new states, integrate new distribution partners and hire more than fifty people across our Engineering, Data Science and Customer Advocate teams.”

“Cox Enterprises is proud to take a leading role in accelerating and supporting innovation within the car insurance industry. With the rise of new digital platforms, drivers can now find better, non-traditional insurance options and Clearcover is positioned to make a huge impact in a roughly $250 billion market,” said Spencer Boice, Senior Director of Strategy and Corporate Development at Cox Enterprises. “Clearcover shares our vision of using data and technology to drive smarter connections and more convenience online.”

Since launching in California in February 2018, Clearcover has rapidly grown its API platform relationships, sold thousands of policies, and helped drivers collectively save millions of dollars on car insurance. The company has integrated with a variety of distribution partners across the automotive, insurance and financial services industry, including Cars.com, The Zebra, and Chime, and will be rapidly expanding both its state footprint and partnerships in 2019.

To learn more about Clearcover, visit: https://clearcover.com.

To learn more about partnering with Clearcover, visit: https://clearcover.com/api/

To see Clearcover’s open positions, visit: https://clearcover.com/careers

About Clearcover
Clearcover is the smarter car insurance choice, offering better coverage for less money. The company combines modern technology with a customer-focused mindset to deliver a convenient experience, reliable service and affordable prices. Backed by one of the world’s biggest reinsurers and built for the modern world, Clearcover makes it easy to save money and get insured in minutes.

Additional Resources:
Read SMARTER, the Clearcover blog: https://blog.clearcover.com
Follow Clearcover on Twitter: https://twitter.com/clearcover
Connect with Clearcover on Facebook: https://www.facebook.com/Clearcoverinc

Media Contact:
press@clearcover.com
312-780-9614

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Sep. 12, 2018
Clearcover expands Insurance API offerings

Making high-quality, affordable car insurance available anywhere

CHICAGO, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Clearcover, the smarter car insurance choice, today announced the expansion of its API offerings. Companies such as automotive shopping sites, car manufacturers, price comparison engines, online retailers, financial service providers and relevant consumer technology platforms can now complement their offerings with the addition of Clearcover car insurance. Customers will enjoy the ease of purchasing a Clearcover policy online, competitive pricing, reliable service and claims support, and helpful mobile app.

“Selling auto insurance is a complex process. That’s why the industry has been relying on the same distribution methods for the last 30 years. Unfortunately, those methods have failed to keep up with rapidly changing consumer behaviors,” said Adam Fischer, VP of Product at Clearcover. “We designed our APIs with two goals in mind: help make the purchasing process easy and cost-effective for our customers, and help make the integration process seamless for our partners so they can easily tap into the $231 billion US auto insurance market.”

The expanded API offerings are the latest example of Clearcover’s smart technology making car insurance more convenient and affordable. The Clearcover API platform dynamically automates key portions of the insurance process including the data collection, price viewing and changes to coverage elections. The API options in order of integration depth include:

  • Smart Link™ - Partners of all types are able to pass basic data via URL instead of an API call, allows for a landing page experience.
  • LeadAPI™ – Allows partners from various industries outside insurance to share data and present Clearcover directly to their customers before they transfer over to complete the purchase.
  • QuoteAPI™ – Partners gather all necessary data on their side to receive back a Clearcover auto insurance quote before the user completes the final purchase steps within the Clearcover environment.

Earlier this year, Clearcover first tested QuoteAPI™ before launching Smart Link™ and LeadAPI™. The company is currently working with twenty various types of partners across the automotive, insurance and financial services industry.

To learn more about the Clearcover API offerings, visit: https://clearcover.com/api/

About Clearcover
Clearcover is the smarter car insurance choice, offering better coverage for less money. Clearcover’s API-first approach enables customers to have great insurance at affordable rates. The company’s powerful technology coupled with their dedicated Customer Advocate team ensures a quality experience. Backed by one of the world’s biggest reinsurers and built for modern drivers, Clearcover makes it easy to get reliable car insurance in minutes.

To learn more, visit: https://clearcover.com/ Connect with us on Twitter: @Clearcover, Facebook: facebook.com/clearcoverinc or LinkedIn: https://www.linkedin.com/company/clearcover-inc./

Media Contact:
press@clearcover.com
949-533-6856

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