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CoverWallet

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CoverWallet
Type
Private
ISIN🆔
IndustryInsurance
Founded 📆2015
Founders 👔Inaki Berenguer
Rashmi Melgiri
Headquarters 🏙️New York City
Area served 🗺️
Products 📟 Errors & Omissions Insurance, Liability Insurance, Commercial Property Insurance, Workers' Compensation Insurance, General Liability Insurance
Members
Number of employees
101 - 250
🌐 Websitewww.coverwallet.com
📇 Address
📞 telephone

CoverWallet is an online commercial insurance platform that aims to make insurance easy for small businesses.[1] The company takes a digital-first approach to commercial insurance to help business owners understand their risks.[2]

CoverWallet, based in New York City and co-founded in 2015 by Inaki Berenguer and Rashmi Melgiri,[3] is backed by venture capital firms including Foundation Capital, Union Square Ventures, Index Ventures, and Two Sigma Ventures and has raised more than $30 million.[4] Starr Cos, an insurance and investment firm run by Maurice R. Greenberg, acquired a minority stake in CoverWallet in July 2017.[5]

In February 2018, CoverWallet launched internationally in Europe through a partnership with Zurich Insurance Group, and Spain was the first country to gain access to the platform.[6] In June 2018, Zurich Insurance Group invested in the company. [7]

CoverWallet launched a B2B platform for agents and carriers in May 2018 to provide real-time quoting, underwriting, binding and billing, and The Hanover was the first to use the platform.[8]

In 2018, CoverWallet was named to CNBC's Upstart 100, a list that recognizes the most promising young startups around the world,[9] and it was also recognized as Startup of the Year in 2018 in the Business Services Industry by the Stevie Awards.[10] In 2017, CoverWallet was listed on the global FinTech 100 by KPMG,[11] In 2016, it was recognized by Entrepreneur on its annual Entrepreneur 360 list that highlights the most entrepreneurial companies in the U.S.[12]

References[edit]

  1. Lynley, Matthew. "CoverWallet looks to make it easy for businesses to get commercial insurance", TechCrunch, 26 June 2018. Retrieved on 9 August 2018.
  2. Barzilay, Omri. "NYC Emerges As The Capital Of Insurtech", Forbes, 30 August 2017. Retrieved on 6 September 2018.
  3. Elstein, Aaron. "A newbie to commercial insurance wants to disrupt the industry", Crain's New York Business, 6 December 2017. Retrieved on 9 August 2018.
  4. Simpson, Andrew. "Insurtech CoverWallet Secures $18.5 Million to Expand Small Business Insurance Platform", Insurance Journal, 12 October 2017. Retrieved on 9 August 2018.
  5. Scism, Leslie. "Hank Greenberg’s Starr Buys Stake in CoverWallet", The Wall Street Journal, 18 July 2017. Retrieved on 9 August 2018.
  6. "Zurich, Insurtech Startup CoverWallet Offer End-to-End Insurance for SMEs", Insurance Journal, 16 February 2018. Retrieved on 6 September 2018.
  7. "Zurich Insurance Group First Half 2018 Earnings", Zurich Insurance Group, 9 August 2018. Retrieved on 6 September 2018.
  8. Santana, Danni. "The Hanover partners with insurtech CoverWallet on business insurance", Digital Insurance, 18 May 2018. Retrieved on 6 September 2018.
  9. "CNBC Upstart 100" CNBC. Retrieved 19 October 2018.
  10. "2018 Startup of the Year - Business Services Industries", The Stevie Awards. Retrieved on 6 September 2018.
  11. KPMG. "2017 FinTech 100". Retrieved on 6 September 2018.
  12. "2016 Entrepreneur 360 List", Entrepreneur. Retrieved on 6 September 2018.

External links[edit]


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