CoverForce, an independent insurance platform bringing comparisons and one-click buying to commercial insurance, unveiled its suite of products made for agency networks, wholesalers, and software companies.

The company’s infrastructure and API aim to provide digital access and one-stop comparison in an offline market with speed and accuracy. This comes after the InsurTech announced its initial $5 million seed funding round in January 2022, led by Nyca Partners with participation from Muir Capital, QED Investors, Sidekick Partners, and Moving Capital.

CoverForce’s leadership team brings big tech experience and insurance knowledge together. CEO and Co-Founder Cyrus Karai is joined by two additional co-founders. Former executive vice president of global small and middle market business centers at Travelers, Behram Dinshaw, serves as the company’s chairperson of the board, and former software development manager at Amazon, Kaivan Wadia, serves as the company’s chief technology officer. Together, the three co-founders have assembled a team of engineers and industry advisors, including senior experts from Google, Amazon, The Hartford, Travelers, Allstate Corporation, and McKinsey & Company.

“Historically, the commercial insurance industry has been fragmented and lacking a standardized API experience, forcing companies in need of quotes to navigate a complex, time-consuming process that consists of back-and-forth emails and phone calls,” said Karai in a company press release. “We are changing that by helping top insurance companies become digitally accessible to businesses, unlocking access to new alternative distribution channels and strengthening independent agents.”

Source: CoverForce