CoverForce
API-driven platform enabling insurance agents, brokers, and agencies to quote, bind, and manage commercial insurance policies.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
* | $13.0m | Series A | |
| Total Funding | 000k | ||
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CoverForce operates as a digital insurance platform designed to streamline the insurance purchasing process for small and medium-sized businesses (SMBs). The company provides a comprehensive API that enables users to quote, pay, and bind insurance policies seamlessly. CoverForce connects large agencies, wholesalers, and corporate clients with Tier 1 property and casualty (P&C) insurance carriers, facilitating a more efficient and integrated insurance experience.
The platform is particularly beneficial for brokers, agents, and professional employer organizations (PEOs), offering a smart single submission form that yields bindable quotes from select carriers. This feature allows users to do more business with their preferred carriers and select the preferred payment option directly on the platform. CoverForce serves a wide range of industries, helping customers find the right insurance at the right time.
CoverForce's business model revolves around providing a digital interface that simplifies the insurance quoting and binding process. The company makes money by charging fees for the use of its API and platform services, as well as through partnerships with insurance carriers. By offering a fast and direct connection with carriers, CoverForce reduces the technological burden on its clients and enhances their ability to access top-tier insurance products.
Keywords: Digital Insurance, API Platform, SMBs, P&C Carriers, Quote and Bind, Brokers, Agents, Wholesalers, Seamless Integration, Insurance Technology.