Cove
| Cove Insurance | |
| Private | |
| ISIN | 🆔 |
| Industry | Insurance |
| Founded 📆 | December 2016 Auckland, New Zealand |
| Founder 👔 | |
| Headquarters 🏙️ | , , |
Area served 🗺️ | New Zealand |
Key people | Andy Coon (CEO), Rob Coon (Head of Product), Brett Wilson (CFO) |
| Members | |
Number of employees | 16 |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Cove is a New Zealand insurance company headquartered in Auckland, New Zealand. The company specializes in car and phone insurance.[1][2][3]
Operating in the insurtech sector, Cove has created a chatbot model for insurance to distribute insurance policies and handle claims for its users on desktop or mobile devices, without the use of insurance brokers.[4][5][6][7]
On June 11 2018 Cove announced it was an approved coverholder at Lloyd’s of London.[8] Lloyd’s financial strength is rated A (Excellent) by A.M. Best[9]
Key personnel[edit]
Cove chairman, Chris Coon, who founded New Zealand life insurer Sovereign Limited in January 1989[10]. Sovereign maintained a market share of around 29% to 30% of in-force premiums over the five years up to 2011.
Andy Coon (CEO) began his career at Sovereign, before working in investment banking across UK, NYC, and NZ.
Rob Coon (Head of Product) was previously CFO and founder of Evolution Yachts before being involved with insurtech startups in Europe, before returning to New Zealand to work on Cove.
Brett Wilson (Chief Financial Officer) is a veteran financial executive of numerous financial services organisations, including roles as CFO of Tower Insurance[11], CFO of Seniors Money International, and GM Finance at both ASB Bank & Sovereign[12]
Media[edit]
Cove has been featured in the National Business Review and in Stuff.[13]
See also[edit]
External links[edit]
References[edit]
- ↑ tamsyn.parker@nzherald.co.nz, Tamsyn Parker Money Editor, NZ Herald (2017-10-29). "Would you make an insurance claim by chat-bot?". NZ Herald. ISSN 1170-0777. Retrieved 2017-10-30.
- ↑ "Insurance: the chatbots are taking over". Computerworld New Zealand. Retrieved 2017-11-07.
- ↑ Stepanova, Ksenia. "Cove Insurance to launch 'digital-first' brokerage". Insurance Business. Retrieved 2018-05-29.
- ↑ "Insurance on an app?". RadioLIVE. Retrieved 2018-11-11.
- ↑ "A kiwi start-up that lets you buy insurance via Facebook is taking on the Aussie giants that dominate the market. Jenée Tibshraeny examines its offering". interest.co.nz. 2018-08-23. Retrieved 2018-08-26.
- ↑ Gregor, Kelly. "Expert speaks out on whether chatbots can replace brokers". Insurance Business. Retrieved 2018-05-29.
- ↑ Gregor, Kelly. "Brokers need social media to target Gen Z". NZ Adviser. Retrieved 2018-05-29.
- ↑ "Claims by 'selfie' video planned by digital insurer Cove". Stuff. Retrieved 2018-06-11.
- ↑ "- Lloyd's - The world's specialist insurance market. Also known as Lloyd's of London; is a market where members join together as syndicates to insure risks". www.lloyds.com. Retrieved 2019-01-09.
- ↑ "Sovereign founders resign - sharechat.co.nz". www.sharechat.co.nz. Retrieved 2019-01-09.
- ↑ "Tower CFO Brett Wilson resigns after 16 months". The National Business Review. 2016-07-19. Retrieved 2017-10-30.
- ↑ "Sentinel appoints new finance director - Good Returns". www.goodreturns.co.nz. Retrieved 2017-10-30.
- ↑ "Claims by 'selfie' video planned by digital insurer Cove". Stuff. Retrieved 2018-06-11.
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