A pre-series A round led by Enam Holdings has raised $4 million for consumer-focused Insurtech company CoverSure.
According to a press release from the company, the money will be utilized to develop a platform for consumer-centric insurance engagement that makes use of data intelligence and machine learning capabilities. Additionally, this investment will help CoverSure develop and spread throughout India.
Saurabh Vijayvergia founded CoverSure in January 2023. The company provides both new and existing policyholders with individualized advice.
It improves the insurance experience in the health, life, auto, and travel segments in an integrated manner, including claims support and other services, by leveraging machine learning.
CoverSure claims to build customized insurance portfolios for people and families while offering objective, understandable policy information. The platform evaluates users’ risk profiles and aims to launch customized insurance solutions in the upcoming months, with an emphasis on simplified risk management.
Based on market research, the insurance sector in India is projected to expand at a compound annual growth rate (CAGR) of over 14% during the ensuing ten years.
