Kover provides income-protection products for gig workers, targeting drivers and delivery workers for platforms such as Uber, Lyft, UberEats, and Wonolo. Its product replaces 80% of lost income when a vehicle is out of service or a worker is temporarily suspended by a gig app. The offering includes a 24-hour waiting period and hospitalization claims that can be approved in a few hours. Kover recently partnered with Jobble, an app-based job platform backed by AXA, to offer Jobble Protection to Jobble users. Founded in 2019 and led by CEO Zack Peng, the company has raised capital to support its product and distribution partnerships. The article reports a recent funding event that increases the company’s total financing to date. Kover.ai offers “autonomous coverage” built on decentralized software and smart contracts. It provides an API that enables any business to build and distribute coverage products directly to its customers without involving traditional insurance companies. Premiums collected for each product go into a pool managed by a smart contract, which the company says serves the community of members rather than profit-driven insurers. The company is led by Zack Peng and came out of the 2019 MetLife Digital Accelerator Powered by Techstars. Kover.ai closed a $1.5M seed funding round reported in April 2019.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2020