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Clyde provides extended warranty and product protection services to e-commerce and retail clients. It partners with insurance providers to offer coverage options such as warranty extensions, wear and tear, water damage, and accident protection for up to five years. The protection plans are integrated into the clients’ purchase flows, enabling a seamless checkout experience, simple contract details, and end-to-end claims management. Revenue comes from selling these protection plans, which aim to generate additional income for clients while boosting customer loyalty. The platform differentiates itself by offering easy integration with a wide network of insurers, comprehensive coverage, and a managed claims process that lets businesses focus on their core operations. Clyde’s goal is to help businesses monetize protection services and improve customer satisfaction by providing reliable, turnkey protection at the point of sale.
Industries
Enterprise Software
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$42.4M
Headquarters
New York City, New York
Founded
2017
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Total Funding
$42.4M
Below
Industry Average
Funded Over
4 Rounds
Industry standards
Flexible Work Hours
Remote Work Options
Paid Vacation
401(k) Retirement Plan
401(k) Company Match
Career Development Budget
Conference Attendance Budget
Wellness Program
Mental Health Support
Stock Options
Company Equity
Shipping platform Shippo and InsurTech Cover Genius have joined forces to introduce an insurance solution for eCommerce merchants and ensure a positive shipping experience for their customers. The solution, Shippo Total Protection, aims to provide comprehensive protection, global coverage and seamless claims handling for businesses, the companies said in a Tuesday (Oct. 24) press release. Shippo Total Protection allows merchants to safeguard their businesses by covering the total value of their orders, shipping label costs, return shipping for damaged parcels, and reshipping costs for insured packages across three regions: North America; Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC), according to the release.
Gainbridge Insurance Agency will launch a B2B insurance-as-a-service platform for FinTechs later this year.The platform will offer turnkey savings and retirement solutions for FinTechs’ customers, the InsurTech subsidiary of Group 1001 said in a Thursday (May 25) press release.“The world of consumer finance is growing increasingly fragmented as individuals demand direct access to products and services and greater control over how their finances get managed,” Group 1001 Chief Strategy Officer, Life & Annuity Justin Wee said in the release. “We’re excited to help address the needs in the ‘save,’ ‘invest’ and ‘protect’ legs of the consumer financial journey, and we want to empower companies by making it easier to offer these to their customers by bringing down the barriers to entry in the insurance world.”The new white-label investment products offered via the B2B platform will join Gainbridge’s existing commission-free annuity products that it offers through its current digital-first user interface, according to the press release.The B2B platform and products will allow consumer finance companies to launch new products with the support of Gainbridge’s application programming interface (API)-based, cloud-native platform that enables policy issuance, policy administration and reporting — all tailored to each company’s brand, the release said.Gainbridge has already partnered with SaveTech platform SAVE to enable it to offer fixed annuities, per the release.“Our partnership with Gainbridge is changing how investments in annuities are made with a technology solution that allows us to process annuities paperlessly,” SAVE CEO and founder Michael Nelskyla said in the release.The news from Gainbridge is the latest announcement of embedded insurance products covering different aspects of the industry.For example, on May 17, Obie raised $26 million in Series B funding to add new partnerships and products to its embedded insurance offering for real estate investors.Obie now has 75 partners — including ones in PropTech, FinTech, property management and other relevant segments — and has seen 300% growth among real estate investors over the past two years.Two months earlier, in March, InsurTech Cover Genius purchased warranty provider Clyde to expand its market share in the midsized eCommerce market.Cover Genius enables customers to add warranty protection for purchases within the checkout experience.For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter
Cover Genius, an InsurTech focused on embedded protection, has announced the completion of an asset acquisition agreement with U.S.-based embedded warranty provider, Clyde Technologies (New York).
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Cover Genius has purchased the warranty provider Clyde to deepen into midsized eCommerce market share. The InsurTech announced the acquisition Wednesday (March 15), saying it aligned with its growth strategy, which also includes its recent purchase of refund protection company Booking Protect. “Data shows that adding protection within the checkout experience increases purchase conversion rates 8%, but 58% of customers were not offered warranties for their most recent purchase," Cover Genius CEO Angus McDonald said in a news release
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Industries
Enterprise Software
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$42.4M
Headquarters
New York City, New York
Founded
2017
Find jobs on Simplify and start your career today