Clearsurance launches Insurance industry's first Algorithmic Recommendation Engine to help consumers make informed decisions
NORTH ANDOVER, Mass., July 11, 2019 /PRNewswire/ -- Clearsurance, the insurance industry's first unbiased peer review marketplace for insurance consumers, today announced its Recommendation Engine, a new solution driven by consumer data to help consumers view personalized, conflict-free insurance recommendations for the first time. With the Clearsurance Recommendation Engine, consumers can now better control the insurance choices available to them with the benefit of customer reviews and rating data and the assessment of a simple filtering tool available on the Clearsurance website for homeowners, car and renters insurance.
By filtering and sorting based on their unique risk profile, consumers shopping for homeowners, rental or auto insurance can now view the top insurance policies for them without having to worry about financial conflicts of interest or their data surreptitiously being sold to third parties.
"Many insurance consumers are eligible for discounts as a result of an affinity to specific groups and unique personal attributes that qualify them to save money on their personal insurance policies," said Michael Crowe, CEO and founder at Clearsurance. "Clearsurance's recommendation engine enables the consumer to identify discount attributes and get recommendations from insurance companies that offer such discounts."
In addition to providing an easy-to-use interface designed to simplify an ordinarily complex process, the recommendation engine addresses critical data privacy concerns. No information entered by consumers will be saved or sold to third parties, a common practice within the insurance industry.
"We've developed these latest features with the consumer in mind. Data privacy is a major concern across all industries today. Because insurance deals with highly personal information, we made it a priority to leave that information in the hands of the consumers themselves. We've created a platform that people can trust as they make these important purchases," said Tim Hey, vice president of traffic growth and analytics at Clearsurance.
Clearsurance currently features the profiles of 705 insurance companies and 149 insurance providers have subscribed to Clearsurance so they can better engage with policyholder customers to meet their unique needs and preferences. Unlike other sites, Clearsurance affiliate partners cannot pay to appear higher on the recommendation list, and any ad displays on the site are clearly designated as such. The launch of the recommendation engine refines the decision-making process to ensure that users aren't shown companies or policies that are a mismatch based on their risk profile. Due to the personalized nature of the recommendation engine, which guides users to the best options for their circumstances, conversion rates for those partners using Clearsurance are often five times or greater than those on other sites.
"Clearsurance provides people with the ability to make educated decisions about their insurance needs, and we're proud to consistently rank among the top carriers on the site based on those customer reviews," said Erin Clark, VP of Marketing & Customer Experience at Horace Mann Educators Corporation. "People value the recommendations of their peers and online reviews are increasingly important in buying decisions. Our presence on Clearsurance.com increases the conversion rate across all of our marketing sources by giving people more confidence and visibility into the service level that they can expect from Horace Mann."
At Clearsurance, we are developing a true, customer-first insurance marketplace where people can find the best insurance companies and products to meet their specific needs and unique buying preferences. Everything we do at Clearsurance is governed by our core values: 1) we are transparent; 2) we are authentic; 3) we are optimists; and 4) we are scrappy. Founded in 2016 by insurance entrepreneur Michael Crowe, Clearsurance is simplifying insurance shopping powered by customer generated reviews, ratings and data.
Related Link http://www.clearsurance.com
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