Consumer-facing financial health company Credit Karma unveiled plans for an auto insurance comparison tool. Starting today, members in California and Texas can determine if they are paying too much for car insurance based on how much similar members are paying for comparable coverage.

The move aims to help members make the best decision about their auto insurance, coverage that Credit Karma estimates Americans overspend on by $21 million each year. The new tool builds on Credit Karma’s Online Vehicle Center. Launched in November of last year, the Online Vehicle Center is an informational dashboard that helps consumers manage and organize their vehicle-related finances and information by leveraging driver and vehicle data from the DMV.

The Online Vehicle Center tool received significant traction since launching just under one year ago; more than 8 million members, 8% of Credit Karma’s total user base, have synced their vehicle information with the platform. The new comparison aspect of the tool leverages DMV information and combines it with data from credit bureaus and public insurance filings to estimate insurance quotes. Unlike traditional insurance quote comparisons, which require users to input 30 to 40 fields of data, Credit Karma generates a comparison in real-time.

“We built the auto experience to help put money back into the pockets of our members. With our refinance experience, we’ve helped our members save nearly $150 million on their auto loans in under a year,” said Kenneth Lin, founder and CEO of Credit Karma. “We plan to do the same for insurance.”

Another aspect of the new tool that’s worth mentioning is the education piece. Credit Karma will offer users an interactive experience that shows how certain factors such as moving violations and credit score can impact rates. The San Francisco-based company said that it plans to roll out the new tool to users in more U.S. states “in the coming months.”

At FinovateSpring 2009, Credit Karma CEO Ken Lin demonstrated the company’s platform, which offers free credit reports from Equifax and TransUnion, and seeks to serve as a hub for users to monitor their financial health. Since it was founded in 2007, the company has expanded not only into vehicle information management and monitoring but also identity monitoring and tax filing. Most recently, Credit Karma acquired mortgagetech startup Approved to move beyond its basic mortgage rates comparison tool.

Today, whether you are a small team in a backyard garage or the army of developers in the Googleplex, it is clear that building and sustaining a strong tech company is increasingly about building and sustaining a strong team. Colleen McCreary (pictured), the new Chief People Officer for Credit Karma, helps explain why this is so and how companies can make sure it happens.

Finovate: How long have you been at Credit Karma and what’s your background?

Colleen McCreary: I’ve been at Credit Karma for four months and have been working in various people/HR roles at tech companies for over 20 years. This is my fourth full-time role as a Chief People Officer. I started my career at large public companies but have spent the last decade focusing on scaling startups.

Finovate: Not every company has a Chief People Officer. When does a company know it’s time to hire one?

McCreary: I’m excited that I’m getting asked this question more often. There’s no perfect science, but you usually need someone in a senior capacity when your scale/growth has outgrown the basics you can read in a book. Because labor is usually your most expensive cost, at some point you want an expert who spends all their time thinking about it. Most of what a CPO brings is the ability to match behaviors with a toolbox of possible solutions.

Finovate: What are the challenges a Chief People Officer faces today compared to 5 to 10 years ago?

McCreary: In theory, people haven’t changed that much in terms of their motivation and desires. However, the big changes in the last five to 10 years have been around: 1) increasing employee confidence about vocalizing their opinions and concerns internally and externally, 2) rising expectations of career development/growth and a willingness to quickly move to another opportunity to find it, and 3) the rise of anonymous sites on the internet.

Finovate: What drew you to this field in general and why Credit Karma in particular?

McCreary:  I’ve spent my entire professional career in the technology industry because I love the pace of innovation and the impact it has on individuals and society. There’s nothing more impactful than the ability to gain financial independence. Credit Karma is at the intersection of all of this. However, most important to me was the amazing team that founded the company and the opportunity to work with someone as mission-focused as (CEO) Ken Lin.

Finovate: What skills are most important for a Chief People Officer?

McCreary: There are probably a lot of different answers to this, but when I coach other CEOs who are looking to hire a CPO, here’s my list:

• Deep experience across multiple areas (recruiting, compensation, employee development, performance management)
• A strong point of view and a willingness to share it and push back when appropriate
• Orientation around using data to guide/influence decision-making
• Strong operations experience
• Ability to lead/coach people of all backgrounds
• A thick skin and sense of humor because you can’t please everyone

Finovate: How does a Chief People Officer measure success in her role?

McCreary: From a metrics perspective, we tend to look at things like reduced regrettable attrition, manager effectiveness, offers accepted, NPS (net promoter score) as an employer, etc. However, I think there are some less measurable aspects around employee willingness to vocalize opinions publicly, perceptions of accountability, and overall employee trust in leadership.

Finovate: Thank you for your time.

With more than 80 million members across the U.S., Credit Karma offers free credit scoring, monitoring, and reporting to help consumers better manage their debt. Credit Karma helps users of its platform understand how their credit scores impact their ability to get loans and provides personalized recommendations to help consumers save money and use credit more wisely.

One of Finovate’s earliest alums, Credit Karma demonstrated its Debt Manager solution at FinovateSpring 2009. The company was founded in 2007 and is headquartered in San Francisco, California.

With the new GOP tax law in place, Americans have begun thinking about April 15– the tax filing deadline. Taking advantage of this new awareness, consumer credit monitoring and financial health startup Credit Karma has made a move to attract users to its new tax filing service with the launch of Earlybird Advance.

Earlybird Advance is a no-fee, no-interest loan from MetaBank that allows users who file through Credit Karma to claim from $500 to $1,000 of their tax refund as soon as 24 hours after the IRS accepts their tax return. This is a step up from the three-to-four week time period it generally takes for taxpayers to receive their funds.

“Because filing taxes with Credit Karma Tax is completely free, not only can Americans keep their entire refund, Earlybird Advance can also help them get some money sooner,” said Jagjit Chawla, Credit Karma Tax General Manager. “It’s our way of helping people who can’t wait weeks for their refund.”

Users will receive their advanced funds on an American Express Serve Prepaid Card. The card has no monthly fees and allows users to withdraw their funds for free at more than 24,000 ATMs nationwide. As soon as mid-January, users can apply online in less than two minutes to qualify for the loan.

California-based Credit Karma launched its tax service in December of 2016. The product allows users to prepare and file their taxes for free with a simple process that offers insights to make their taxes easier and more accurate.

Since launching in 2007, Credit Karma has raised $368 million. After its last fundraising in 2015, the company was valued at $3.5 billion. At FinovateSpring 2009, Credit Karma CEO and founder Ken Lin demonstrated the company’s platform, which offers free credit reports from Equifax and Transunion, and seeks to serve as a hub for users to monitor their financial health.

Last summer, the company launched Credit Karma Mortgage, a tool that helps homeowners discover savings opportunities available through refinancing. And in the fall of 2017, Credit Karma unveiled Online Vehicle Center, an automotive information center that serves as a one-stop shop to help consumers manage and organize their vehicle-related finances and information.