Clearcover Insurance closes Series C funding with $50 million raised

Clearcover Insurance | January 06, 2020

Clearcover, a California-based insurtech, has closed $50 million in Series C funding. A release said that the funding round was led by OMERS Ventures, with Michael Yang, managing partner, joining Clearcover’s board. Previous investors – which include American Family Ventures, Cox Enterprises and IA Capital Group ��� also participated in the round. Clearcover will use the funding to continue building the machine learning technology it utilizes to offer customized auto insurance coverage to customers. The new capital will also be used to accelerate the company’s growth in new states, as well as integrating additional distribution channels in the automotive and financial services space.

Spotlight

The underwriting process is critical for insurers. But manual processes, spreadsheets, and data from disparate silos slow down the process and make audit trails a nightmare. All that means a lot of stress on systems and employees, plus a less-than-ideal customer experience.

Fortunately, it doesn’t have to be that way.

With the P&C Underwriter Workbench from Mendix and Capgemini, you can optimize and digitize underwriting, leading to efficiency, effectiveness, and increased productivity.

Connect with your core systems and data sources to make data-driven decisions. Customize every aspect to make an offering that’s uniquely yours.

Spotlight

The underwriting process is critical for insurers. But manual processes, spreadsheets, and data from disparate silos slow down the process and make audit trails a nightmare. All that means a lot of stress on systems and employees, plus a less-than-ideal customer experience.

Fortunately, it doesn’t have to be that way.

With the P&C Underwriter Workbench from Mendix and Capgemini, you can optimize and digitize underwriting, leading to efficiency, effectiveness, and increased productivity.

Connect with your core systems and data sources to make data-driven decisions. Customize every aspect to make an offering that’s uniquely yours.

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