New York, June 27, 2018 -- CoverWallet, the tech startup that makes it easy for small businesses to understand, buy, and manage insurance online, today launched the first API for commercial insurance. With the easy to integrate CoverWallet API, developers and businesses are now able to easily integrate insurance services and solutions directly into their apps and websites in a matter of minutes.
CoverWallet is the leading tech company reinventing the $100 billion U.S. commercial insurance market for small businesses. Based in New York and launched in 2016, it has received more than $30 million in funding from renowned investors including Union Square Ventures, Index Ventures, Two Sigma, and Foundation Capital. Powered by deep analytics, thoughtful design, and state-of-the-art technology, the company is the easiest way for small businesses to understand, buy, and manage insurance online.
CoverWallet looks to make it easy for businesses to get commercial insurance
If you run a business, it is absolutely essential that you protect yourself and your assets with business insurance. However, figuring out exactly what kind of coverage you need and finding the best possible price is no easy task. That's why a group of tech entrepreneurs got together and created CoverWallet, an online commercial insurance marketplace and concierge service specifically designed to help small- to medium-size businesses understand, buy, manage, and save money on insurance.
CoverWallet was founded by people with extensive experience in software startups. Frustrated with how difficult it was to navigate the commercial insurance landscape, they decided to build a solution specifically tailored for small-to-medium sized businesses. The result is an easy-to-use online platform offering state-of-the-art technology to find the best price on personalized coverage.
If you're tired of feeling confused and overwhelmed by the commercial insurance industry, or you're worried you don't have the right coverage or best rates, make your life easier and get a free quote from CoverWallet today. It's the easy, affordable way to protect your business.
Insurtech company CoverWallet has announced the launch of CoverWallet for Agents, a dedicated platform for insurance agents. The platform gives agents a fast, simple and efficient way to provide commercial insurance to businesses, with a single point of entry to access carriers for multiple types of policies, the company said.
"We share PayPal's culture of innovating on behalf of clients and this initiative is one way we are addressing our clients' most pressing needs," said Roberto Pinto, president of Digital Client Solutions at Aon. "We are uniquely positioned to develop and deliver a digital solution to PayPal that will expand access to insurance for small businesses, which is often an underserved market, and ultimately help them make better decisions to grow and protect their business. By bringing together CoverWallet's digital capabilities and integrating it into PayPal's existing offering for small businesses, we have created a unique experience that simplifies accessing and obtaining insurance for millions of merchants."
"This is a challenging time for small businesses and this initiative can help make it easier for PayPal's small business customers to access a range of insurance solutions to help keep their businesses protected," said Jim Magats, SVP, Payments and SMB Solutions, PayPal. "The program moves forward PayPal's mission to democratize access to the digital payments and commerce solutions small businesses need to manage their end-to-end business, including managing risk and protecting their finances. Aon's digital capabilities, risk expertise, insurance carrier relationships and ability to deliver new solutions tailored to our specific small business customers is key to delivering this program."
CoverWallet is reinventing insurance for businesses, and we do that by combining data, design, and technology. More specifically, we mean general liability, property, workers compensation, professional liability, and the other policies that any of the 30 million small businesses in the U.S. need for commercial insurance coverage.
In the next couple of years, we want to continue riding the paradigm shift of the mainstream, which is seeing commercial insurance becoming more and more online. As the market moves along, we want to grow with the market. Commercial insurance for small businesses is a $100 billion market. We think that more and more of that market is going to move online, and we want to continue being positioned as the leader in the category that is online commercial insurance.
About CoverWalletCoverWallet is the leading tech company reinventing the multi-billion dollar commercial insurance market for businesses. Based in New York and launched in 2016, it has received more than $40 million in funding from renowned investors including Union Square Ventures, Index Ventures, Two Sigma, and Foundation Capital, as well as Zurich Insurance Group and Starr Companies. Powered by deep analytics, thoughtful design, and state-of-the-art technology, CoverWallet makes it easy to understand, buy, and manage business insurance online.
The founders of Coverwallet, a cutting-edge Fintech online platform launched in 2015 and an Aon company, aim to simplify how small businesses deal with their commercial insurance policies. This digital solution provides a concierge-like service to simplify the complexities of insurance by combining design, data, and technology. In short, the platform takes all of your insurance policies and puts them in a centralized location for easy access and management. They also provide a committed insurance advisor to answer questions and give professional guidance about insurance. By doing this, it helps small businesses understand risk and other variables, so they can choose the right coverage and manage it.
With its extensive list of standard coverage items, Coverwallet protects against unforeseen and sudden loss and expenses. Their dedication to making commercial insurance convenient, fast, and simple helps small businesses focus on what matters- managing and growing their business.
With Coverwallet, all your insurance policies can be seen in one place. The user-friendly interface makes everything easy and transparent. With plenty of top insurance companies to choose from, small businesses can be confident that they are partnering with insurance companies who are competent and experienced in delivering their promises.
With more than 40 years of experience helping businesses understand their risks and getting them the insurance coverage they need to be protected, Aon has deep expertise when it comes to commercial insurance.
In the past few years, the insurtech scene in New York City has expanded significantly, and it looks like that trend may continue given the breadth of the insurance industry. NYC startups have popped up to address not just health and commercial insurance, but also life insurance, renters insurance, auto insurance, pet insurance, and disability insurance. Companies are also creating new coverage products, such as on-demand insurance, and back-end technology for brokers and insurers.
About CoverWalletCoverWallet is the leading tech company reinventing the multi-billion dollar commercial insurance market for businesses. Based in New York and launched in 2016, it has received more than $40 million in funding from renowned investors including Union Square Ventures, Index Ventures, Two Sigma, and Foundation Capital, as well as Zurich Insurance Group and Starr Companies. Powered by deep analytics, thoughtful design, and state-of-the-art technology, CoverWallet makes it easy to understand, buy, and manage business insurance online.
"Simplifying the insurance journey and helping our clients focus on their core business is at the heart of our mission with this new offering, which is a major step ahead for small and medium-sized businesses," said Antoine Lamy-Rested, Chief Commercial Officer, Aon France. "By leveraging our internal digital strengths and our expertise in Commercial Risk, we offer our clients quick and easy access to high-performance insurance products that meet their needs."
CoverWallet's unique technology platform combines data science, user experience design and analytics to make insurance easier for businesses. Through the platform, businesses can get quotes for multiple products, compare coverage details, pay with a credit card or bank account, instantly download their proof coverage and speak with an insurance specialist if they have any questions throughout the process.
Aon acquired CoverWallet, the leading digital insurance platform for small and mid-sized businesses, in January 2020. Today the CoverWallet platform is available across three continents, with additional expansion planned in 2021 to make insurance simpler, faster, and more convenient for businesses worldwide.
Shopping for business insurance can be a tedious process. It takes time to collect and review quotes and coverage unless you visit CoverWallet. CoverWallet, an Aon company, makes it easy to get quotes from multiple insurance providers.
Through CoverWallet for Agents, the company says agents will benefit from a fast, simple, and efficient way to provide commercial insurance to businesses, with a single point of entry to access top carriers for multiple types of policies.
CoverWallet is a concierge service that provides small-business insurance quotes to companies in a variety of fields. The service allows businesses to get quotes and manage all of their business insurance policies in one place, including liability, workers' compensation insurance, business owner policies and commercial auto insurance. 2ff7e9595c
Comments