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This innovative tech company is making a name for itself by disrupting the car insurance industry, which is why when it set out to expand, it looked no further than the Automotive Capital of the world: Detroit, Michigan.
Clearcover is a five-year-old, Chicago-based company that’s digital-only approach to selling and servicing car insurance is disrupting the 124-year-old auto insurance industry. Using a proprietary software platform and an award-winning mobile app, the company promises instant claims processing and eligible claims paid in minutes. By doing business exclusively on a digital basis, the company gains efficiencies that enable it to improve customer service and offer consumers better coverage and service at lower prices.
Clearcover decided to expand its footprint and workforce in response to both the opportunities and the challenges presented by the company’s recent growth. By choosing Detroit as home to its Customer Experience Center in August 2020, Clearcover also chose state and city partners that were equipped to help respond to both and establish the company’s first-ever Michigan location.
Given the importance Clearcover places on innovative customer service, Detroit's robust workforce strongly influenced the company's calculus.
"When we started our national search for a second talent hub, it was critical to us that we find talented people who can help us continue reinventing a centuries-old industry," said Kyle Nakatsuji, co-founder and CEO of Clearcover. "Several cities offer talent, but what made Detroit stand out is that the city embodies our core values, including empowering others and embracing the role of competitive underdog.”
"We're excited to offer high-growth career opportunities in a city with talent that not only reflects who Clearcover is but also reflects the customers we serve," Nakatsuji said.
Clearcover also valued the potential to leverage Detroit's reputation as an automotive and mobility hub in building its business, helping it achieve even greater growth than competing markets could have provided; as Detroit is also known as the Automotive Capital of the world.
In the end, Michigan Economic Development Corporation’s (MEDC’s) competitive business attraction tools and demonstrable commitment to supporting and growing Michigan companies may have been the single most significant consideration, as Clearcover received key support for its investment through the Michigan Business Development Program.
Clearcover anticipates that its expansion will generate a total private investment of $5 million in Michigan and will create 303 high-wage jobs in customer support, sales, underwriting, technical support and eventually in software engineering. The company has also committed to hiring qualified Detroiters and providing skills training by working with the Detroit Economic Growth Corporation and Detroit at Work. As a result, the company also received support from the Jobs Ready Michigan program, which helps businesses address the costs of recruiting and training individuals for high-wage, high-skill and high-demand occupations.
Clearcover's site selection helps underscore Detroit's growing reputation as both a home for major financial services companies, joining industry leaders such as Quicken Loans and TCF Bank, while solidifying its moniker as the Motor City – even in today’s digital age.
"Detroit's resiliency and knack for innovation was evident throughout our search," said Heidi Craun, Head of Customer Experience for the company. "Clearcover is excited about the opportunity to build meaningful partnerships in the city it will now call home and ensure that our new presence provides real opportunity for Detroiters."
As it continues to grow and expand in the state, Clearcover knows it can count on the MEDC to help it find the talent and support it needs to continue building its success here in Michigan.
To learn more about how MEDC can support companies of all sizes doing business in Michigan, visit michiganbusiness.org/pure-opportunity.