Indian insurtech Coversure has raised $4 mn in a pre-Series A funding round led by Enam Holdings, a seasoned regional investor.
Founded in January 2023 by entrepreneur Saurabh Vijayvergia, Coversure specializes in personal insurance advisory services. It uses AI to deliver tailored solutions.
The company aims to assist both existing and new policyholders in various segments, including health, life, motor, and travel insurance.
The company offers personalized risk management, streamlined policy management, and family care, addressing insurance protection gap.
CEO Saurabh Vijayvergia sayd the need for an unbiased approach to solving family insurance issues. Coversure has developed digital solutions with an intuitive app-first approach.
Insurance problems of a family needs an unbiased approach to solve and to that extent we have built digital-solutions with an intuitive app-first approach
Saurabh Vijayvergia, CEO Coversure
“At CoverSure, we are navigating people through personalised risk management dynamically, streamlined policy management, family care etc while bridging protection gaps,” Saurabh Vijayvergia says.
Coversure differentiates itself by providing a personalized, spam-free advisory service, unlike many platforms that focus on sales.
The funding will be used to enhance Coversure’s insurtech platform with data intelligence and machine learning.
The capital will also support expansion within the Indian market.
The Indian insurance and insurtech sector has shown steady growth. Experts predict a compound annual growth rate of about 14% over the next decade.
