Acko General Insurance Company Limited.

About the company:

CoverForce is a high growth InsurTech startup. We have two goals:

1. Build a PolicyBazaar style website to be used by insurance agents in the US for business insurance. Agents will be able to get quotes, compare them, bind them (convert to policy) and pay for them. Currently no website exists with Quote/Bind/Pay. Few exists but they are quote only. Our unique proposition enabled insurance companies to grant us Bind access. Can delve deeper into why and how too.
2. Convert the API powering our website into a Public facing API. This will enable corporates like Walmart, Gusto (payroll software), Lyft etc to start selling insurance to their customer base easily. We already have inbound requests from Walmart and Lyft. Think of Plaid for business insurance. This will also enable other agency management systems to build a quote/bind/pay feature into their software.

At the end of the day we want to be the centralized pipe to access all business insurance across multiple carriers. Whether that is through our website or API directly we don’t care. Just that we are the centralized pipes. Similar to Plaid for banking.

Some Highlights:

We have access to 5 of the top 10 insurance carriers in the US. This is something no other company has.

We recently raised a $5m seed round at a $27m valuation. Our investors include NYCA Partners, QED, a Google Gradient partner, Sr mgmt from Uber and the co-founder of Plaid (William Hockey)

Who we are:

Cyrus Karai (https://www.linkedin.com/in/cyrus-karai/) - Ex-Wharton, Ex-Investment Banker, Ex-PWC. He used to audit insurance companies and has family that has insurance agencies. He has very rich experience in insurance and financial companies.

Behram Dinshaw (https://www.linkedin.com/in/behram-m-dinshaw-77760b6/) - Our advisor and chairman of the Board. He has 30+ years experience in Commercial insurance. He was the head of Travelers (2nd largest carrier) for 10 years for their Small and medium commercial insurance. He is a recognized name in the commercial insurance industry.

Kaivan Wadia (https://www.linkedin.com/in/kaivanwadia/) - Worked at 2 video gaming startups (1 was bought by Riot games) before joining Amazon for the last 5 years. At Amazon, Kaivan built out the Advertising localization team that automatically localizes text and video across multiple languages. They have a patent pending for the PathOptimizer they built. He was the founding engineer and then became manager while growing the team to from 2 to 12 along with a separate science team.

We are the creators of Arvi, a smart and friendly personal insurance assistant. Insurance for too long has been a complex and boring decision customers make out of compulsion.

Arvi wants to completely reboot the customer engagement and make it super simple, interesting and informative. Arvi provides customers an insightful conversational experience using a mix of artificial intelligence, data and a touch of lighthearted humor.

InsuranceKaralo.com is an online insurance platform founded by Gaurav Dhami, who has a rich background in sales and marketing. The company aims to provide customers with the best-suited insurance plans tailored to their individual needs. The platform is designed to simplify the process of purchasing insurance, making it more accessible and convenient for customers across India.

Founder: Gaurav Dhami

Gaurav Dhami completed his schooling at Army Public School and went on to earn a Master’s in Business Administration from Subharti University. With over 7 years of extensive experience in the sales and marketing field, Gaurav has worked with leading organizations such as Club Mahindra, American Express (Amex), HDFC Life, PNB MetLife, IndiaMART, and Bhutani Group.

This vast exposure to major industries gave him a deep understanding of market dynamics and consumer needs. Recognizing a gap in the insurance market, Gaurav decided to launch an online channel where clients could find the most appropriate insurance plans that cater to their specific requirements.

RIA is an InsurTech company on a mission to actively partner with our customers to improve their health and health outcomes. We are taking a very differentiated approach which is backed by how we use health data and digital health to keep our customers healthier.

To enable our mission, we are building our own core InsurTech platform in-house. This platform is cloud-native and on a microservices architecture. We’re building all our core components internally, such as - insurance APIs, an AI/intelligence layer, our own risk models, a health data platform, and a low-code insurance workflow automation platform.

We’re a well-funded start-up, which has raised capital from top VCs, global insurers, and prominent Indian family offices. 

Our Team

Our team comes from IIT Kanpur, Kellogg, MIT Sloan, IIT Guwahati, UChicago Booth, IIT Madras & University of Michigan. The team has also worked at companies such as McKinsey, Goldman Sachs, Max Bupa, Swiss Re, ICICI Lombard, ICICI Prudential, etc.