Cove
Bringing a touch of innovation and simplicity to the insurance industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
$2.0m | Series A | ||
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Cove Insurance is a New Zealand-based insurtech company that provides car and pet insurance directly to consumers through a digital-first platform.
The company's business model is centered on a technology-driven approach that enables customers to purchase and manage their insurance policies entirely online. This includes obtaining quotes, filing claims, and making policy adjustments through its website and a 24/7 chatbot, which aims to streamline the customer service process. By operating digitally, Cove targets a customer segment that prefers self-service and convenience.
The company has secured funding from investors, including the NYSE-listed reinsurer Greenlight Re, which indicates confidence in its model to capture a share of the New Zealand insurance market. Cove's strategy focuses on simplifying the insurance process, contrasting with the more traditional, broker-centric insurance industry.
Keywords: insurtech, digital insurance, direct-to-consumer, New Zealand, car insurance, pet insurance, online platform, chatbot, policy management, claims processing