Clearsurance, a crowdsourced review, rating and educational platform for the insurance industry, has raised $4 million in a Series A funding round.
The round was led by its co-founder, Michael Crowe, and includes Davis Capital Partners, a Sausalito, Calif.-based investment firm. Funds will be used for strategic new hires as well as product-build and marketing efforts, according to executives.
Crowe, CEO and co-founder along with Todd Kozikowski of the Massachusetts-based Clearsurance, said he is investing because he believes strongly in the firm’s mission. “Consumers now have an unbiased place to turn for information about their insurance options,” he said. “Our mission is to help people make smarter insurance decisions based on real reviews and ratings from actual policyholders, and our crowdsourced platform allows them to learn from the experiences of others.”
Davis Capital’s Christopher Chouinard said Clearsurance is bringing an “important new perspective to consumers at a very exciting time in insurtech,” and predicted that the platform “is set to change how consumers learn about and buy insurance, and in turn, how insurers engage and communicate with them.”
Clearsurance launched in 2016 promising curated reviews from consumers at every stage of their relationship with a carrier. According to the company, its website has curated over 50,000 reviews on more than 350 home, rental and auto insurance carriers.
In addition to being of metric of value to consumers shopping for insurers, Clearsurance’s crowdsourced data can also be used by insurers seeking to bolster customer relations and extend their brand reach, according to the company.
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