Clearsurance rolls out algorithmic engine for consumer recommendation service

Clearsurance rolls out algorithmic engine for consumer recommendation service | Insurance Business

Clearsurance rolls out algorithmic engine for consumer recommendation service

Clearsurance has launched its Recommendation Engine – a new feature driven by consumer data – to help consumers on the insurance peer review marketplace find more personalized insurance recommendations.

A release said that with the Clearsurance Recommendation Engine, consumers can better control the insurance choices available to them. The algorithmic engine works by filtering and sorting insurance results based on the consumer’s unique risk profile. It can be used when searching for homeowners’, car, and renters’ insurance on Clearsurance’s website.

The feature also helps consumers discover possible insurance deals that they would not be able to find on their own.

“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,” pointed out Clearsurance founder and CEO Michael Crowe. “Clearsurance’s recommendation engine enables the consumer to identify discount attributes and get recommendations from insurance companies that offer such discounts.”

The engine has an easy-to-use interface, simplifying the policy search process. In addition, no information entered by consumers will be saved or sold to third parties. This saves consumers from having to worry about financial conflicts of interest and their data being abused.

Clearsurance vice president of traffic growth and analytics Tim Hey mentioned that the privacy features were developed with the consumer in mind.

“Because insurance deals with highly personal information, we made it a priority to leave that information in the hands of the consumers themselves,” Hey explained.

Clearsurance currently features profiles of 705 insurance companies. There are also 149 insurance providers subscribed to the marketplace to better engage with policyholder customers.