Chief Financial Officer, Clearcover
5 days a week in office
Digitally-native car insurance
Job no longer available
Digitally-native car insurance
201-500 employees
Job no longer available
5 days a week in office
201-500 employees
Company mission
To give drivers what they deserve: affordability, reliability, convenience, and smarter auto policies.
Role
Who you are
- 15 years of progressive work experience in the insurance industry
- Capital markets experience in equity, debt and reinsurance markets
- Familiarity with recurring-revenue businesses and developing and managing cohort-based financial metrics
- Willingness to think about an organization’s economic objectives from first principles... the map is not the territory
- Able to work hand-in-hand with our technology and insurance teams as a strategic thought partner, as proven by successful past collaboration with senior stakeholders
- Superior analytical, quantitative and problem-solving skills with a deep intellectual curiosity and an ability to make data-based decisions
- Must be able to lead through influence. Also must be a team player and able to operate as a “player-coach”
- Exceptional communication skills, including the ability to develop and present clear and concise analysis and recommendations to senior management and our Board of Directors
- Self-directed with the ability to manage and motivate others
What the job involves
- This person will help develop strategies to balance organic and inorganic growth with the profitability goals of the business, drive key financial and capital markets activities, and be a thought-partner to other members of the Senior Executive Team
- They will also work closely with the existing financial leadership team to manage the core financial operations of the company
- Support the Board and senior executive team by proposing and evaluating key business decisions from a finance perspective, leveraging financial data, strategic insight, and rigorous analytical thinking
- Lead strategic capital markets activities including equity and debt fund raises, reinsurance partnerships, and relationships with current and potential investors and other strategic partners
- Own the long-term financial planning process and recommend key business strategies that drive value, including through capital management, reinsurance and strategic investments
- Oversee the departmental budgeting process and drive accountability through collaboration with senior department leaders
- Lead the Treasury and Investment strategies and operations for the holding company and all regulated entities
- Oversee monthly and quarterly close processes and timely financial results communication to the CEO, Board, investors and other stakeholders
- Ensure proper execution of all corporate accounting functions, including annual financial audits and issuance of financial statements compliant with GAAP and Statutory Accounting Principles
- Direct and manage a multi-disciplined finance team for both the holding company and all regulated entities
- This role reports directly to the CEO and offers the chance to play a key role in scaling a high-potential company
Our take
Though the last couple of years has seen a significant shift to digital in the insurance industry, Clearcover’s digital starting point gave it a head start on the competition, particularly long-established insurance providers and marketplaces.
By automating a number of traditionally manual processes on its all digital car insurance platform, Clearcover is able to allow customers to purchase insurance and process claims more quickly, and often at a lower cost, than with legacy insurance providers.
Thanks to its ease-of-use and extremely fast turn-around times (30 minute claims payouts for example), its reputation has soared. That being said, April 2023 saw cuts to staff and the reportage of losses in 2022 of up to $38.7 million. Concurrently, 2023 has seen it partner with credit reporting giants Experian and focus more on policy distribution through third party companies. Change is in the air, and only time will tell how Clearcover evolves in an environment of financial uncertainty.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 6 rounds)
Apr 2024
$55m
SERIES E
Nov 2022
$153m
SERIES E
Total funding: $512.5m
Company benefits
- Insurance (health, dental, and vision)
- 401K (we contribute 3% even if you contribute nothing)
- Flexible work locations
- Unlimited paid vacation
- Monthly mental health workshops
- Discounted gym memberships
- Company equity
- Annual bonus program
- Employee discount on auto-insurance (location dependent)
- Four day work week
Leadership
Kyle Nakatsuji
(CEO)Former Venture Capital Principal at insurance industry investor American Family Ventures.
Derek Brigham
(COO)Insurance industry veteran. Former e-commerce Senior Product Manager at CUNA Mutual Group, former Business Development Manager at American Family Insurance.
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