Cover expands auto insurance brokerage operations in Texas

Insurance Business America | April 26, 2019

Insurtech brokerage Cover has announced that it has officially started selling its own policies in Texas. In a recent survey, Cover found that about five million drivers in Texas have not shopped around for a better auto insurance rate in over two years. Although many Texans do not shop around too much, the state pays the 13th highest premiums in America. Cover offers a mobile-based process for buying policies (utilizing smartphone technology such as camera and location services), and the company also boasts the ability to set fairer rates with its app platform. It believes these features address the common insurance shopping pain points for Texans. According to a survey by Cover, 62% of Texans are frustrated by auto insurance shopping. Of those frustrated drivers, 29% said it is the time it takes to shop that is their main pain point when purchasing insurance, while 40% said they have doubts about their chances to find lower premiums. “By using smartphone technology to make insurance more intuitive, Cover is on a mission to take the frustration out of buying a policy, making it simple for drivers to find great coverage and better rates,” said Cover co-founder and CEO Karn Saroya.

Spotlight

Insurance carriers have invested a great deal in digital capabilities in recent years. While these initiatives reflect a genuine need to be more efficient and profitable, it can be difficult for management to maintain a clear perspective on strategy in the face of what amounts to generational change. Accordingly, whether you’re embarking on a digital transformation or just making targeted improvements, there are a few important things to keep in mind.

Spotlight

Insurance carriers have invested a great deal in digital capabilities in recent years. While these initiatives reflect a genuine need to be more efficient and profitable, it can be difficult for management to maintain a clear perspective on strategy in the face of what amounts to generational change. Accordingly, whether you’re embarking on a digital transformation or just making targeted improvements, there are a few important things to keep in mind.

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INSURANCE TECHNOLOGY

Vouch Partners with Capsule To Support Startups Internationally

Capsule and Vouch | November 11, 2022

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Wright National Flood Insurance | November 02, 2022

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