U.S. Insurtech CoverWallet Launches Digital Insurance Package For Venture-Backed Startups

Digital insurance platform for businesses CoverWallet announced on Monday the launch of its new digital insurance product specifically for venture capital (VC) backed startups. According to CoverWallet, VC-backed startups may instantly buy and manage Directors & Officers insurance (D&O), Employment Practices Liability (EPL), and Fiduciary coverage online.

“The management liability package is designed for companies from Seed through Series C and adds to the insurance policies already available through CoverStartups, a dedicated platform for high-growth companies. Based on a proprietary algorithm that assigns a Rating Factor using a VC’s past performance, the product categorizes investors into tiers based on their track records and due diligence processes.”

Speaking about the new product, Inaki Berenguer, CEO and Co-Founder of CoverWallet, stated:

After launching CoverStartups two years ago, we saw the need for a better insurance experience and product for high-growth startups when it came to management liability, and especially D&O coverage. By continuing to take a customer-centric approach and harnessing new datasets, CoverWallet is able to deliver startups a faster, simpler and more convenient experience for buying and managing insurance.

Launched in 2016, CoverWallet claims it combines deep analytics, thoughtful design and state of the art technology to help small businesses with all their insurance needs.

“CoverWallet delivers a seamless user experience while offering savings, customized coverage and best-in-class service to their customers. In a matter of minutes, any business can get peace of mind, buying and managing their insurance, all through CoverWallet’s online platform.”

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