CoverForce, Inc.
https://cover-force.comAbout
About the company:
CoverForce is a high growth InsurTech startup. We have two goals:
- 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.
- 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.
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