CoverForce, a NYC-based independent insurance platform bringing streamlined comparisons and one-click buying to commercial insurance, officially emerged from stealth mode, with $5m in seed funding.
The round, raised in January 2022, was led by Nyca Partners with participation from Muir Capital, QED Investors, Sidekick Partners and Moving Capital.
Co-founded by Chief executive officer Cyrus Karai, Behram Dinshaw, Kaivan Wadia, Coverforce is now launching its suite of products made specifically for agency networks, wholesalers, and software companies. Its API digitally connects agencies and corporate customers with insurance carriers.
For agents, the company’s core infrastructure and customized software enables instant quotes from top, best-fit carriers and one-click bind and pay. For carriers, the company unlocks new distribution channels while guaranteeing control over access.
A product of the University of Pennsylvania’s Innovation Fund, CoverForce has been used by 3,500 users to its platform in the recent months of operation.
FinSMEs
25/10/2023