Insurtech startup CoverSure has successfully raised $4 million in a pre-Series A funding round led by Enam Holdings. The funds are earmarked for the development of a cutting-edge consumer-centric insurance engagement platform leveraging data intelligence and machine learning technologies. This strategic investment will also fuel CoverSure’s expansion and growth initiatives across India.
CoverSure, founded in January 2023 by Saurabh Vijayvergia, aims to transform the insurance landscape by offering personalized advisory services to both current policyholders and those new to insurance. The startup’s innovative approach integrates machine learning to enhance the insurance experience across various segments, including health, life, motor, and travel insurance, while providing comprehensive claims assistance and other services.
The platform stands out by constructing individualized insurance portfolios for users, ensuring they receive clear and unbiased policy information. Focused on simplifying risk management, CoverSure assesses users’ risk profiles to introduce tailored insurance solutions in the coming months.
The Indian insurance industry is on a robust growth trajectory, with market research projecting a compound annual growth rate (CAGR) of over 14% in the next decade. CoverSure’s advanced, consumer-focused solutions are poised to capitalize on this growth, offering significant value to Indian consumers through improved insurance experiences and personalized risk management.
