Insurance Companies for Startups:
Embroker is an insurance company tailored to startups. It doesn’t retain any risk itself, but instead matches organizations of between 10 to 1,000 employees with policies from over 50 commercial carriers. Some policies are custom-built for verticals like technology and come with “data-driven” guidance provided by a team of insurance advisors, plus real-time claims tracking and instant certificates of insurance. Companies can track and manage assets and vendor certificates online and customize requirements by project, while receiving notifications for noncompliant and expired policies or adding variables like property location information.
San Francisco startup CoverHound, which was founded nine years ago by industry veterans hailing from Unitrin Direct and InsWeb, has ridden the insurance digitization wave pretty successfully. It has sold more than 200,000 policies to date and in 2016 moved into the cyber insurance sector through its subsidiary, Cyberpolicy. It's now raising cash to fuel growth to come.
CoverWallet was founded in 2015 by technology entrepreneurs Inaki Berenguer and Rashmi Melgiri. It has more than 300 employees across engineering, digital marketing, data science, business intelligence, design, and operations, with offices in New York City, Rochester, N.Y., and Spain. In May 2019, Aon partnered with CoverWallet to serve clients in Australia. In conjunction with this agreement, CoverWallet received a strategic investment of an undisclosed amount from Aon.