Covr Financial Technologies Market Research Report

Company Overview

Name, Mission of the Company

Covr Financial Technologies
Mission: Insurance Simplified. Covr makes buying insurance easy for anyone.

Founding Information

No information is available.

Key People in the Company

Michael Kalen, CLU, ChFC - Chief Executive Officer

Matthew Herz - Chief Marketing Officer

Brandon Leung - Chief Technology Officer

Alicia Noyes - Chief Financial Officer/Head of HR

Jim Gothers, CLU, FLMI - Head of National Sales

Scott Cuyler - VP and Head of Product

Todd Ewing - Head of Direct Distribution

Bobbie Watkins - Head of Brokerage Operations

Mike Furgiuele - Head of Product and Carrier Strategies

Elvella Lozada - HR Director

Headquarters

Hartford, CT

One American Row, Hartford, CT 06102

Phone: (844) 430-2687

Houston, TX

5120 Woodway Dr. Suite 9020, Houston TX, 77056

Phone: (844) 430-2687

Number of Employees

No information is available.

Revenue

No information is available.

Known For

Covr is known for transforming the insurance purchase process, making it fast and digital. The company partners with over 30 of the country’s leading insurance providers to offer a range of life, long-term care, and disability insurance.

Products

Product Offerings

Covr Consumer

Description: Turnkey, AI-guided insurance platforms for consumers of leading financial brands.

Key Features:

White-labeled and integrated into the financial brand experience

Single session purchase ability

Multi-carrier quoting and comparisons

Customer segmentation models and turnkey marketing campaigns

Omni-channel sales support

Covr Advisor

Description: Comprehensive multi-carrier digital life, long-term care, disability, and annuity sales and service platform for financial advisors and insurance specialists.

Key Features:

Real-time, AI-driven tools

API and single sign-on integration

Digitally enabled, virtual sales support

Multi-carrier call center for application taking

Integration with financial planning tools like Money Guide Pro

Covr Pro

Description: Comprehensive multi-carrier digital life, long-term care, & disability sales platform available to independent agents.

Key Features:

Real-time, AI-driven tools

Drop Ticket for 100% of available products

Full-service, digital BGA

Omni-channel support

Covr Assist service for handling sales

Covr Exchange

Description & Features:

Covr DX: Full suite of APIs for seamless integration.

Covr Insights: Digital book of business management system.

Covr Transact: Automation platform for insurance carriers.

Covr Analytics: KPI dashboard reporting.

Covr Managed Services: Fee-based services such as app taking, case management, and policy reviews.

Recent Developments

Recent Developments in the Company

1. Covr Financial Technologies Hosts Economic Growth Event - January 25, 2024

Connecticut-Based Investment Group and State Officials visited Hartford Location.

2. Michael Kalen Joins Board of Trustees of the Connecticut Science Center - February 7, 2023

CEO Michael Kalen shared his innovation vision with the Connecticut Science Center.

3. Covr Partners with Smart Choice - January 30, 2023

Partnership to bring Covr’s digital insurance platform to 9,500 Smart Choice agencies.

4. Citi Selects Covr - September 22, 2022

Collaboration to help U.S. financial advisors and clients integrate life insurance effectively.

5. Covr Pro Launch - August 25, 2022

Launch of Covr Pro, making its platform available to independent financial advisors.

6. Covr Completes $15m Series B Fundraising Round - April 7, 2022

Series B fundraising round completed with new investor Stone Point Ventures.

7. E*TRADE Launches Digital-First Life Insurance Offering - October 28, 2021

Partnership with Covr to offer life insurance in as little as 15 minutes, often without a medical exam.

New Products Launched

Covr Pro: A digital insurance platform for independent financial advisors, launched on August 25, 2022.

New Features Added to Existing Products

No specific information about new features added to existing products.

New Partnerships

Smart Choice: Partnered to bring Covr’s digital insurance platform to 9,500 agencies (January 30, 2023).

Citi: Selected by Citi to simplify the life insurance process for their U.S. consumer wealth management business (September 22, 2022).

Conclusion

This report reflects detailed information gathered on Covr Financial Technologies, highlighting its mission, product offerings, and recent developments. The company is committed to simplifying and digitizing the insurance buying process, offering innovative solutions for both financial institutions and end consumers.

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