CoverWallet, a New York-based insurtech startup, announced this week it has formed a partnership with Zurich Insurance to provide SMEs in Europe with a way to quickly size up their insurance needs, purchase coverage and manage their policies through a single digital platform. While sharing details about the collaboration, CoverWallet stated:
“Since our inception, a few years ago, CoverWallet has had a singular focus on helping thousands of small businesses throughout the United States, to better understand, buy, and manage their insurance. Traditional insurance distribution models are complex as well as time-consuming, and many small businesses face the same pain points around the world. When Zurich approached us about taking our technology platform international, to service small businesses in Europe, we were thrilled and jumped at the opportunity! In Zurich, we saw a partner that shared our mission to better serve and protect small businesses by delivering online simplicity, convenience, and speed.”
Giovanni Giuliani, Group Head of Strategy, Innovation and Business Development at Zurich, also commented:
“We are incredibly pleased to bring this new digital platform to SMEs in Europe who will now be able to enjoy a simpler, faster and more convenient and tailored insurance experience than ever before. We have been able to set-up and launch this innovative regional partnership in less than six months. This is a fantastic example of how we are relentlessly working to exceed our customers’ expectations, combining innovation and simplification to help them reach their full potential.”
Zurich’s new distribution model will reportedly launch in Spain. The program, which can help customers find coverage in minutes, “reinforces our bet for innovation and for change towards a new digital model,” according to Vicente Cancio, Zurich Spain CEO. CoverWallet added:
“We are excited to team up with a preeminent global brand, with such a rich history, deep insurance expertise, and passion for tech innovation. In leveraging the power of automation through CoverWallet, Zurich will now be able to help millions of businesses that are un- or under-insured in Europe.”
