Bengaluru-based insurtech pioneer, Covrzy, has achieved a significant milestone by securing a direct broking license from the Insurance Regulatory and Development Authority of India (IRDAI). This authorization empowers Covrzy to function as a direct insurance broker within India, offering a comprehensive suite of business insurance solutions.
Financial Backing and Market Focus
In the preceding year, Covrzy successfully secured $400,000 in pre-seed funding from prominent investors, including Antler and Shastra VC (formerly known as Veda VC). The company’s founders, Ankit Kamra and Veera Thota, have cultivated a user-centric platform designed to simplify the insurance acquisition process for startups, small and medium-sized enterprises (SMEs), and micro, small, and medium enterprises (MSMEs).
Digital-First Approach to Insurance
Covrzy’s innovative digital-first approach empowers businesses by providing seamless access to insurance coverage and claims support. This groundbreaking model is reshaping insurance distribution in India by making it more accessible and inclusive.
Client Base and Partnerships
To date, Covrzy has garnered a substantial client base, exceeding 500 businesses across India, including a diverse range of startups and MSMEs. The company’s impressive clientele features prominent names such as Redcliffe Labs, Orange Labs, Karboncard, and Schbang. Furthermore, Covrzy has forged strategic partnerships with renowned insurance providers, including ICICI Lombard, Bajaj Allianz, and IFFCO Tokio.
More Stories
Groww Completes Domicile Shift Back to India: Joining a Fintech Trend
May 10, 2024
Business
Women Farmers in Maharashtra Redefine Agriculture with Self-Reliant Practices
May 6, 2024
BelieveHERS
Razorpay achieves TPV of $150B, launches payment gateway 3.0
March 1, 2024
Funding
Sadhguru Praises Singer Diljit Dosanjh After Performance
March 4, 2024
Entertainment
Mira Kapoor Joins Perfectly Average as Brand Representative
July 11, 2024
BelieveHERS
Boba Bhai Secures Seed Funding to Fuel Growth of Bubble Tea and K-Pop Burger Chain
April 24, 2024
Funding
Baahubali Franchise Expands with Animated Series “Crown of Blood”
May 10, 2024
Entertainment
Wipro GE Healthcare Announces ₹8,000 Crore Investment Boost for Medical Technology Growth in India
March 27, 2024
Business
Indian Fintech Giant PhonePe Brings UPI Payments to Sri Lanka
May 17, 2024
Business
Telangana-Born IT Expert to Contest UK Parliamentary Election
May 21, 2024
India Abroad
Fabless Chip Startup Morphing Machines Secures $2.76 Million in Seed Funding
June 27, 2024
Funding
Husk Power Systems Secures Additional Funding from ElectriFI to Expand Clean Energy Access in Rural India
April 16, 2024
Funding
Aereo Secures Substantial Investment for Aerial Intelligence
July 22, 2024
Funding
Newme Secures $18 Million to Fuel Growth
July 19, 2024
Funding
BluSmart Charge App Launched: A Game Changer for EV Charging in India
May 28, 2024
Technology
Prime Minister Modi Honors Kamala Moharana at Kendrapada Rally
May 31, 2024
Politics
FreshToHome Trims Losses Despite Stagnant Revenue Growth
May 8, 2024
Startups
Captain Fresh Appoints New Group CFO: Mathew George
May 23, 2024
Business
Dvara KGFS Secures $14.4 Million Funding to Empower Rural Women in India
March 22, 2024
Funding
Neo Secures Fresh Capital for Expansion
July 25, 2024
Funding