Clearcover Insurance launched a managing general agency (MGA) to serve the nonstandard automobile (NSA) insurance market in Texas, as part of its broader growth strategy.
A company spokesperson said the MGA was launched on Jan. 7.
The MGA will make Clearcover’s services more accessible to Texas drivers, including those in the NSA market, allowing them to benefit from the company’s affordable and tailored coverage options and tools.
The newly launched unit will also make the claims process easier through the company’s “digital-first” approach. Agents can also use the digital tools the company provides to grow their sales, increase their commissions and improve customer retention.
The expansion will also allow Clearcover’s agents and partners to penetrate the NSA market, which the company said is estimated at $80 billion.
Clearcover chief executive Kyle Nakatsuji said that the launch of the MGA is a “major milestone” for the company in its goal of building a generational insurance company.
Policies under the MGA will be underwritten by Old American County Mutual Fire Insurance Co., a property and casualty insurance company established in 1946 that provides nonstandard private passenger automobile insurance.
Clearcover is also looking to expand its business portfolio, while improving customer value and profitability, as well as accelerating organizational growth.
“We’re thrilled to expand our solutions to a broader range of customers and provide more avenues for our agents and partners to increase commissions, improve retention and unlock greater rewards,” Nakatsuji said.
Clearcover is an Insurtech company based in California that provides customers with technological solutions. The company was founded in 2016 by Nakatsuji and Derek Brigham.
The company comprises Clearcover Insurance Company, Clearcover Insurance Agency and Clearcover General Agency. So far, it has raised more than $560 million in funding.
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