COVR Global, a London-based insurtech startup, has raised $2.5 mn in seed funding to advance the development of its AI-powered claims decision engine. The round was led by MTech Capital, with additional participation from B Capital.
Established in 2024, COVR focuses on modernizing the insurance claims process through its proprietary Decision Engine, which combines artificial intelligence, machine learning, and decision logic.
The platform supports real-time decision-making across the claims lifecycle, helping insurers resolve questions related to coverage and liability and offering guidance on how to proceed with each claim.
COVR currently operates in the UK, Spain, Japan, and Australia. It reports partnerships with several major global insurers.
The company’s technology is designed to increase the speed and precision of claims settlement by processing and interpreting large volumes of unstructured data.
Kevin McLoughlin, Partner and Co-Founder at MTech Capital, highlighted AI’s capacity to improve claims operations by analyzing, classifying, and summarizing unstructured information.
He expressed confidence in COVR’s leadership, citing CEO Markus and his executive team as highly experienced in claims technology.
Clearly AI — with its core strengths of analyzing, classifying and summarizing unstructured data — is a game changer for more effective claims settlement. We believe Markus and the senior executives he has assembled are the most experienced team in the market today for claims technology.
Kevin McLoughlin, Partner and Co-Founder at MTech Capital
McLoughlin stated that the company is well-positioned to become a major global player in the claims technology space.
The new funding will be used to accelerate product development and support COVR’s international expansion efforts as it strengthens its position in the AI-driven insurance technology sector.
