Covr offers a digital life insurance platform that lets users compare rates from carriers and purchase policies within minutes. The company provides its digital insurance solutions to financial institutions under their own brands and supports distribution through financial advisors and insurance producers. Covr serves over 25,000 financial advisors and more than 40 million customers across over 30 financial institutions. Led by CEO Michael Kalen, the company aggregates life insurance products from carriers and streamlines the purchasing experience. Covr plans to use new funding to continue building its digital insurance technology and to support a number of distribution partnerships. The platform focuses on improving the customer experience for banks and other financial institutions that distribute life insurance. Covr operates a digital platform that enables banks, credit unions and fintech apps to offer white-labeled life insurance integrated into their websites and distribution channels. Several insurers underwrite policies on the platform, including Americo, Banner Life, Bestow and Haven Life. Covr says it serves over 25,000 financial advisers and more than 20 million customers across 30+ financial institutions. The company launched LoanMatch Protector, a life insurance product for consumer and business loans, in January. Covr plans to use new funding to expand its provider partnerships and accelerate domestic and international growth, leveraging Sony’s distribution network. The company was founded in 2016 and is based in Hartford, Connecticut, and currently plans to grow headcount from about 90 to 110 employees by year-end. Its advisory board includes former and current executives from Credit Suisse, Citibank, Ellevest, Visa, Lending Club and Rockefeller Capital Management. Covr Financial Technologies offers a digital, multi-carrier life insurance platform that enables financial advisors and consumers to research and purchase affordable life insurance within minutes. The company provides both digital advisor and consumer platforms used by brokerage firms and consumer banks. Covr serves a customer base representing 20,000 financial advisors and over eight million consumers, and its roster includes firms such as Morgan Stanley, US Bank and SunTrust. Founded in 2012 and led by CEO Mike Kalen, the company is headquartered in Boise, Idaho and also has offices in Hartford and Austin. Covr has raised more than $20m in total funding to date and intends to use new funds to continue to innovate and support its client base. Covr Financial Technologies is a digital personal insurance platform that integrates personal insurance products from nearly twenty major insurers into financial institutions and financial advisers' channels. The platform offers education and training on insurance products, insurance-product marketing, and insurance-licensed telephone support. Led by CEO Bill Benjamin, Covr enables financial firms to deliver an integrated line of personal insurance products digitally to their customers. The company is based in Boise, Idaho, and also has a presence in New York and Minneapolis. Covr raised $5M in funding to support strategic growth and talent expansion, reflecting an active capital position as of the article.

Total raised

$42M

Funding rounds

4

Latest round

Series B

Latest activity

Apr 2022