CoverSure, a consumer-focused InsurTech startup, has successfully raised $4m in its pre-series A funding round.
The investment was led by Enam Holdings, a prominent investor in private and listed firms, according to a report from Financial Express.
CoverSure, founded in January 2023, aims to automate insurance policy management for users. The company’s platform provides insights into policy benefits and shortcomings, assists with renewals and claims, and covers various insurance segments including health, life, motor, and travel.
The newly acquired funds will be used to develop a consumer-centric insurance engagement platform leveraging data intelligence and machine learning capabilities. Additionally, CoverSure plans to expand its business operations within the country.
CoverSure’s founder and CEO, Saurabh Vijayvergia, highlighted the company’s mission to address the low insurance penetration in India by empowering individuals to better understand their coverage. “Insurance problems of a family need an unbiased approach to solve and to that extent, we have built digital solutions with an intuitive app-first approach. At CoverSure, we are navigating people through personalized risk management dynamically, streamlined policy management, family care etc while bridging protection gaps.”
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