Coversure was founded in January 2023 by entrepreneur Saurabh Vijayvergia. It primarily focuses on providing personal insurance advisory services by leveraging AI to deliver tailored solutions. Coversure aims to help both existing and new policyholders across multiple segments including health, life motor and travel.
CEO Saurabh Vijayvergia stated “Insurance problems of a family needs an unbiased approach to solve and to that extent we have built digital-solutions with an intuitive app-first approach. At CoverSure, we are navigating people through personalised risk management dynamically, streamlined policy management, family care etc while bridging protection gaps.”
“Unlike many insurance platforms that focus on sales, CoverSure offers a personalised, spam-free advisory service to existing policy holders as well as new to insurance.”
Coversure aims to use the funding to further develop its consumer-friendly insurtech platform using data intelligence alongside machine learning. The capital will also be used to further support expansion within the Indian market.
The Indian Insurance and Insurtech ecosystem has shown consistent signs of growth in recent years. Experts are predicting a compound annual growth rate of approximately 14% in the coming decade.
