Insurtech startup CoverSure raises $4 Mn in pre-Series A round

CoverSure, a consumer-focussed Insurtech firm, has raised $4 million in its pre-series A round led by Enam Holdings. 

The proceeds will be used to build a consumer-centric insurance engagement platform using data-intelligence and machine learning capabilities, the company said in a press release. This investment will also support CoverSure’s growth and expansion across India.

Founded in January 2023 by Saurabh Vijayvergia, CoverSure offers a personalized advisory service to existing policy holders as well as new to insurance. 

Utilizing machine learning, it enhances the insurance experience across health, life, motor, and travel segments in an integrated way including claims assistance and other services. 

According to CoverSure, it constructs personalized insurance portfolios for individuals and families, providing clear and unbiased policy information. With a focus on simplified risk management, the platform assesses users' risk profiles and plans to introduce tailored insurance solutions in the coming months.

According to market research, the Indian insurance industry is estimated to grow at a CAGR of more than 14% over the next 10-years.