Srikanth
Riskcovry, an insurance tech startup which has raised $5 million in Series A funding. It is all about the B2B2C omni-channel insurance in a box platform. Anyone who is craving to get into the space of insurance, Riskcovry enables them to stand on their own feet. It takes care of several features like-
Riskcovry, is founded by Suvendu Prusty. Saurav, Chirag and Vidya are co-founders of the company. The name ”Riskcovry” is generated from Discovery of Risks and Cover them.
The interview highlights
- The motive is always to use technology as a primary tool to enhance the insurance penetration industry.
- Before opting to buy any insurance, a customer must always consider the terms and conditions, what the policy covers, and awaken from false expectations.
- Social & technological strengths are increasingly becoming an opportunity for the industry.
- Abolishing the agent visit, physical document selection and signature, evolution of paperwork, data entry as it consumes time. Riskcovry vision is to enable insurance penetration and distribution by utilizing emerging technologies.
- Open API architecture: Company is based on API architecture. API’s are tools that connect different servers in a secured manner. It is benefited with real-time extend of data and requisite consumer response.
- The platform introduces embedded insurance. Mobile insurance and Travel insurance are embedded inside the project journey.
- This tech startup is transforming insurance distribution and adding value to the entire industry. The software can understand the customer segment, suitable insurance policy for the core business.
“India covers the insurance at a micro level that determines our country has a huge platform for this”, said Suvendu Prusty. People from every sector, whether from the service sector, sales sector, etc, can be the insurance agents to grow themselves and the industry as well.”
