Covera Technologies is a Montreal-based InsurTech startup that automatically shops customers' home and auto insurance year-after-year to find better rates. The company uses data, proprietary algorithms and a technology-first approach (the article also references leveraging AI) to surface alternatives that can be purchased in a few clicks. Customers sign up in minutes and Covera targets the insurance renewals space to reduce automatic renewals and save consumers money. The press release notes a market stat that 80% of Canadians allow insurance to automatically renew, which Covera seeks to disrupt. Covera has raised capital to support growth, geographic expansion across Canada, and to build the team and accelerate product development. The company emphasizes a non-conflicted approach to shopping the market on behalf of customers.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2017