Fintech
CoverSure Raises $4 Million in Pre-Series A Funding Led by Enam Holdings
By Gloria Mattia
Today
- CoverSure
- fintech financing
- Indian fintech
CoverSure, a focus on the consumer InsurTechraised $4 million in a pre-Series A funding round led by Enam Holdings.
The company plans to use the funds to build a consumer-centric insurance engagement platform using data intelligence and machine learning capabilities. This investment will support CoverSure’s growth and expansion across India, strengthening its position in the InsurTech sector segment.
Founded in January 2023, the company has created a comprehensive platform to meet all consumers’ insurance needs. Using machine learning, it improves the insurance experience across health, life, auto and travel segments in an integrated manner, including claims support and other services. Quickly builds personalized insurance portfolios for individuals and families, providing clear, unbiased policy information. With a focus on simplified risk management, the platform evaluates users’ risk profiles and plans to introduce tailored insurance solutions in the coming months.
Unlike many insurance platforms that focus on sales, CoverSure offers a personalized, spam-free consultation service to existing policyholders and new insurance customers.
Saurabh Vijayvergia, founder and CEO of CoverSure, said, “Our primary objective is to address the issue of insurance penetration by empowering millions of Indians who are uncertain about their insurance coverage. Through our platform, we aim to simplify the user’s life experience of insurance, not just sales. A family’s insurance problems need an impartial approach to solve and in this sense we have created digital solutions with an intuitive approach based first on apps. At CoverSure, we are guiding people through dynamically personalized risk management, simplified policy management, family assistance, etc., while closing protection gaps.”
The Indian insurance sector is estimated to grow at a CAGR of more than 14% in the next 10 years. It is widely expected that the momentum of easing insurance regulations will continue, making insurance much more consumer-centric to achieve greater insurance adoption.
Backed by credible institutions, CoverSure is committed to setting new standards of simplicity, transparency and consumer-centricity in insurance services across India.