Coverfox Insurance Broking Pvt. Ltd
Contact person: Chaitali Mehendale
Email address: firstname.lastname@example.org
Contact number: 7738173206
Asia and ANZ
The Digital Insurer Insurance Innovation Award
Coverfox is India’s largest Insure-tech platform where you can compare, buy and manage your insurance policies. The portal helps bring transparency, simplicity, and ease to the process of buying and managing insurance in India. Using its proprietary technology and algorithm based platform, users can compare and choose from a range of plans across top insurance companies, understand key features and buy policies instantly and safely. Once bought it handholds and helps them through the tedious claims process. We currently offer health, car, bike, life and travel insurance policies.
Coverfox is run by Glitterbug Technologies, a tech company which has received Series A, B & C funding from global funds such as SAIF partners, Accel, Narayan Murthy’s Catamaran Ventures, IFC and Transamerica.
The Insurance industry is growing tremendously and gaining popularity with the introduction of e-commerce. In 2017, Coverfox got a PoSP (Point of Sales Person) license from IRDAI, opening up a world of opportunities. Aiming to digitize every aspect of insurance selling, Coverfox launched an Android App - ‘Coverdrive’ last year, which helps insurance agents go digital and grow their businesses, that too absolutely FREE of cost. This initiative is targeted towards creating job opportunities for college students, house-wives, small-scale businessmen and unemployed youth in India. It will give business opportunities to around 26 lakh insurance agents and other prospective small-scale businessmen. It is a platform for insurance agents and individuals to sell insurance through a mobile application.
Gone are the days when the traditional insurance agents would knock on doors for selling insurance. With digitalization, millions of people can embrace this new app. Coverdrive is a Digital Assistant for the New Age Insurance Agent. It allows anyone right from an individual to an insurance agent to start an online insurance business with the touch of his/her smart-phone. One can buy insurance products through this mobile app for his/her customers at the click of a button on one single platform. It
optimises the performance and improves the operational efficiency of insurance agents.
An individual who has undergone a proper insurance certification and training program from Coverfox can sell insurance through Coverdrive. This training and certification is made available on tablets, desktop as well as mobile android app. Coverdrive promotes greater integration and streamlining of all stakeholders in the purchase of insurance. There is better interaction with insurers, and agents get access to the insurance company that their customers wish to opt for. They can check reviews online and then make a final decision whether a particular insurance product from a particular company suits their needs. With instant policies and post-sales service such as automated endorsements, express claims assistance, it helps agents delight their customers. They can let customers opt for the plan they feel is lighter on their pockets and the one that best suits their needs.
When agents use ‘Coverdrive’ as a platform to buy an insurance policy, the payments are made through a secured and safe payment gateway. Agents can make payments using a net-banking facility or a debit or credit card. Every payment made on Coverdrive can be tracked easily to eliminate any chance of fraudulent transactions.
We all know that buying insurance offline is a cumbersome process. Buying insurance with the touch of your finger on Coverdrive will eliminate the hassles of collecting quotes from different insurers, filling lengthy forms, tracking sales, travelling all the way to the insurer for petty issues and overall make the process simpler. Agents can now buy insurance in no time for their customers! It allows instantaneous issuance of the policy online to the end user. Thus, letting you have more money in your pocket.
Insurance these days is highly competitive. And with Coverdrive, the active, as well as inactive insurance agents, will get a platform to sell insurance and earn good commission. With the introduction of the mobile-app Coverdrive, a lot of college students, housewives as well as struggling small-time businessmen can earn good money by selling insurance. All you need is to have a training and certification from Coverfox. You will get the best commissions and can grow your earnings exponentially. In short, insurance agents can grow their business at a faster pace.
You can get all records under one roof with Coverdrive. Insurance agents can not only sell insurance on Coverdrive but can also keep a record of any scheduled medical tests in case of health insurance or inspections in case of car/bike insurance of their customers. All policies sold and rewards earned through Coverdrive can be tracked in the single interface of the app.
In just 6 months from its inception, Coverdrive’s user base has grown to over 22,000 users. Each day, our users leverage our platform to empower their business. Our product portfolio has grown to include Motor, Health, Term and continues to grow catering to the needs of each geography and demography. We have partnered with 15+ insurers to ensure that each agent can choose a plan that best suits his customer’s needs.
Growing exponentially, we are hoping to reach the smallest pockets of the country. Generating employment opportunities and empowering users with the best technology to enable their growth is Coverdrive’s ultimate motto.