CORE INSURANCE, COMPLIANCE
PRnewswire | June 02, 2023
Clearcover, the next-generation car insurance company, today announced that it recently launched the Clearcover Agent Hub, its reimagined agent resource center in its ongoing effort to bolster the agent distribution channel.
Designed to empower agents to better serve their customers and sell Clearcover policies with ease, the Agent Hub offers an innovative experience that supports agents through onboarding, answers frequently asked questions and offers ongoing support and education.
"Providing agents with educational resources and simple sales tools is a top priority," said Clearcover CEO Kyle Nakatsuji. "We're continuing to analyze data and listen to customer and agent feedback in our efforts to deliver the best experience in the industry."
One of the more notable enhancements in the Clearcover Agent Hub is a reimagined onboarding process for agents to sell with ease and confidence. The dedicated resource serves as a way for agents to learn more about Clearcover at their own pace, including general company information, products and services, and how to start selling policies.
"Clearcover already gave us a competitive product that agents can leverage to sell more business more efficiently, and now they've made the process even easier with the new Agent Hub," said Brightway Agency Owner and Clearcover Agent Gary Silverman. "It's truly a one-stop shop to help us grow our business."
In addition to onboarding, the Agent Hub also provides an array of updated digital resources, such as new videos, relevant articles and enhanced training content.
As Clearcover builds momentum and innovation in the channel, it is also working on rolling out an agent-centric rewards initiative.
The launch of Clearcover Agent Hub comes shortly after the company announced it has teamed up with Experian to provide an embedded insurance solution as part of its ongoing effort to expand its distribution channels.
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.
LIFE INSURANCE, HEALTH INSURANCE
PRnewswire | April 04, 2023
Sproutt, the life insurance company that modernizes life insurance for agencies, agents, and their customers, today announced the launch of Sproutt SmartLife for Agencies and the acquisition of The Reder Agency, a full-service life insurance brokerage specializing in the traditional and senior markets. SmartLife for Agencies brings to market an AI-assisted first-of-its-kind platform for all aspects of agency business, while the acquisition of The Reder Agency will add over 400 agents nationwide to Sproutt's growing network of producers as part of its evolution toward becoming a full-service distribution ecosystem. The Reder Agency's principal owner, Ben Reder, will join Sproutt as the Senior Vice President of Distribution.
The acquisition of The Reder Agency greatly expands the adoption of Sproutt's SmartLife platform by introducing it to hundreds of experienced life insurance producers, cementing the company's evolved mission of serving as the digital home for the roughly 1.2 million insurance professionals in the U.S. With a shared vision to innovate and scale the insurance sales process, the Reder Agency acquisition enables Sproutt to accelerate growth and offer increased value to life insurance producers.
Sproutt's SmartLife platform allows agents, via the Agent Portal, to make real time decisions to effectively serve the needs of their clients. Within minutes, agents can offer tailored life insurance solutions with top rated carriers and a full spectrum of proprietary products, from term to whole life, with greater ease, speed, and efficiency.
"We are excited to announce our new offering for agencies, which supercharges organizations with the necessary AI tools and products to maximize their distribution, as well as the acquisition of The Reder Agency, which adds hundreds of proven life insurance producers onto the Sproutt platform. I am thrilled to have Ben joining the Sproutt team, as we share the belief that this acquisition will be a major step in Sproutt's commitment to be the platform of choice for insurance producers and brokers across the country" said Yoav Shaham, CEO and Co-Founder. "Within this data-driven industry, which evaluates risk based on consumer data, our unique contribution is that our platform leverages AI to maximize agent production, reduce friction in the sales journey and modernize traditional insurance processes for carriers" explains Shaham.
For Ben Reder, an insurance industry veteran and owner of The Reder Agency for over a decade, this move will allow him to have a bigger impact on the life insurance agents and agencies that he is currently working with, as well as provide incredible value for future partnerships. As Senior Vice President of Distribution, he will continue his focus on providing top tier services and support, while benefiting from the technology and resources that Sproutt provides. "Insurance distribution is moving towards a unified digital experience, for both the client and the agent. Being able to partner with Sproutt and bring our decade-plus of traditional brokerage distribution expertise to a fully digital platform represents an opportunity to merge best-in-class technology with award-winning production," said Reder.
Sproutt is a life insurance company that modernizes life insurance distribution for agencies, agents, and their customers. Leveraging data and AI, the Sproutt SmartLife platform is set to reshape Life insurance distribution. The platform empowers insurance producers to efficiently assess risk, tailor policies, and enhance customer experience in the most effective and scalable way. Sproutt sells its policies through agents and brokers via its SmartLife for Agents and Agencies. Backed by State of Mind Ventures, Moneta VC, FinTLV, Guardian Life, MS&AD Ventures, MoreTech Ventures, Harel Group, Menora Mivtachim, Raptor Group, and Falcon Edge Capital, Sproutt's business operations are based in New York with an R&D center in Tel Aviv.
CORE INSURANCE, RISK MANAGEMENT
Businesswire | March 28, 2023
Insurify, Inc. (“Insurify”), America’s top-rated virtual insurance agent to compare, buy and manage insurance, has completed the acquisition of Inspop USA, LLC and its subsidiary, Compare.com Insurance Agency, LLC (“Compare.com”), a pioneer in the U.S. online auto insurance comparison market.
Compare.com was founded by Admiral Group, plc (“Admiral”), one of the UK’s leading auto insurers and a member of the FTSE 100, which retains a minority stake in Insurify and continues to serve as a strategic shareholder.
“We are thrilled to welcome the talented Compare team, and the well-established brand, and proven technology into Insurify. This combination allows Insurify to realize the benefits of the respective brands, platforms, and operations to effectively deliver next-generation solutions to consumers and carrier partners. Together, our complementary insurance capabilities will continue to strengthen Insurify’s market position as we build the preeminent and most trusted digital insurance agent,” said Snejina Zacharia, founder and CEO of Insurify.
Costantino Moretti, Head of International Insurance, Admiral Group said, “I’m really proud of everything that Compare.com has achieved over the last decade. This acquisition is a positive outcome, but it’s always sad to see valued colleagues leave the Admiral family. On behalf of Admiral, I would like to thank our Compare.com colleagues for their contribution to the Group and their unwavering commitment to customers - and wish them all the best as they enter this new phase.”
This transaction does not impact Admiral’s U.S.-based insurance business, Elephant, which is an entirely distinct business.
Perella Weinberg Partners LP served as financial advisor and Clifford Chance US LLP served as legal advisor to Admiral. Morgan, Lewis & Bockius LLP served as legal advisor to Insurify.
Based in Cambridge, MA, Insurify, America's top-rated virtual insurance agent, provides expert advice and empowers customers to securely compare, buy, and manage their auto and home insurance policies from the largest selection of accurate quotes. With more than 70 million quotes served and $200B in insurance coverage, Insurify has won several insurance industry awards, including Forbes NextBillion Dollar Startups of 2022, WPO’s 50 Fastest Growing Women-Owned and -Led Companies 2022, Inc.’s 5,000 fastest-growing private companies in America of 2022 and 2021, Forbes Fintech 50 List for 2021, Stevies’ Gold International Business Award for a Medium-Sized Insurance Company 2021, EY’s 2021 New England Entrepreneur of the Year, and Insurtech Insights’ Future 50 2021.
Compare.com is an online comparison platform that allows consumers to receive side-by-side comparisons on auto insurance quotes with real prices from more than 60 of the country’s top carriers. Since its launch in 2013, Compare.com has helped more than 7 million customers switch and save on their auto insurance, putting over $300 million back in US consumers’ wallets. Headquartered in Richmond, VA, Compare.com was founded by Admiral Group, plc, one of the UK's leading auto insurers and a member of the FTSE 100. For more information, visit www.compare.com.
About Admiral Group
Admiral Group plc is an FTSE100 global financial services company offering motor, household, travel and pet insurance as well as personal lending products. Established in 1993 in the UK, the Group now has offices in Canada, France, Gibraltar, India, Italy, Spain, and the U.S.