Coverfox

Coverfox
Private Limited Company
Industry Insurance
Founded 2013
Founder Varun Dua
Devendra Rane
Headquarters Mumbai, India
Website coverfox.com

Coverfox is an online insurance broking portal based out of Mumbai, India. The company was founded in 2013 and is owned and run by Glitterbug Technologies Pvt. Ltd.. It received its insurance broking license from Insurance Regulatory and Development Authority (IRDA) in early 2014.[1]

Background and Funding

Coverfox was founded by Devendra Rane and Varun Dua, in 2013.[2] They had earlier founded the tech firm, Glitterbug Technologies Pvt. Ltd., in 2011, which used to build technology for insurance companies.[3]

Until August 2016, Glitterbug Technologies Pvt. Ltd., which runs Coverfox, has received investments of around $14 million in venture capital from Accel Partners and SAIF Partners.[4] The company raised $2 million in series A round in 2014 and another $12 million in series B round in April 2015. The series B round also consisted of investments of an “undisclosed amount” from N. R. Narayana Murthy’s Catamaran Ventures.[5]

Accolades and Mentions

The company’s co-founder and CEO, Varun Dua, was featured in the Business Insider Year Roundup (2015) for ‘Five entrepreneurs making a mark for themselves in 2015’.[6] Covefox was featured in the The Smart CEO Startup50 list for excellence in consumer tech space and keeping its platform digital ready for the millennial generation.[7] The company won the FinTech Rising Star Award at the IndiaFinTech Award 2016.[8]

Recent Activities

Coverfox launched their maiden brand campaign in September 2015. It was conceptualized by BBH India.[9] In January 2016, the company, launched a second set of TVCs with BBH India to highlight the need of car insurance.[10] In July 2016, the company launched a digital campaign to get people to renew their insurance. The campaign consisted of 10 microfilms of 6.5 seconds and was also conceptualized by BBH India.[11]

In April 2016, Coverfox launched a doorstep claims assistance program called express claims service.[12] The service works with insurance companies and auto-service providers to give "timely and professional claims support".[13]

In May 2016, Coverfox announced a tie up with the public sector undertaking, Oriental Insurance to make the PSU's motor insurance products available online.[14]

References

  1. ↑ Das, Pulomi. "Varun Dua, CEO and co-founder of online insurance portal Coverfox says the finance startup space holds humongous potential". businessinsider.in. Retrieved 2016-08-28.
  2. ↑ Ganguly, Paloma. "A young startup is changing the rules of the game in India's insurance market". techinasia.com. Retrieved 2016-08-26.
  3. ↑ Sharma, Samhida. "NRN's Catamaran invests in fintech startup Coverfox". timesofindia.indiatimes.com. Retrieved 2016-08-27.
  4. ↑ Sharma, Samidha. "Accel, SAIF invest in Coverfox". timesofindia.indiatines.com. Retrieved 2016-08-27.
  5. ↑ Sharma, Samidha. "NRN's Catamaran invests in fintech startup Coverfox". timesofindia.indiatimes.com. Retrieved 2016-08-27.
  6. ↑ Das, Poulomi. "BI Year Roundup: Five entrepreneurs who made a mark for themselves in 2015". businessinsider.in. Retrieved 2016-08-28.
  7. ↑ CEO, TheSmart. "The Smart CEO Startup50 Winners". Retrieved 1 December 2016.
  8. ↑ Awards, India FinTech. "India FinTech Awards 2016". Retrieved 1 December 2016.
  9. ↑ Bapna, Amit. "Coverfox.com's maiden brand campaign is for the new-age Indian". brandequity.economintimes.indiatimes.com. Retrieved 2016-08-29.
  10. ↑ Team, Campiagn India. "Coverfox uses surprising disclosures, conveys need and ease of car insurance". campaignindia.in. Retrieved 2016-08-28.
  11. ↑ Bureau, BestMediaInfo. "Coverfox's insurance reminder is one-of-a-kind in digital innovation". bestmediainfo.com. Retrieved 2016-08-28.
  12. ↑ Bureau, ET. "Coverfox launches doorstep claims service in Mumbai". economictimes.indiatimes.com. Retrieved 2016-08-29.
  13. ↑ Bureau, ANI. "Coverfox.com launches first of its kind doorstep claims service". financialexpress.com. Retrieved 2016-08-29.
  14. ↑ Bhakta, Pratik. "Coverfox announces tie up with Oriental Insurance Company". economictimes.indiantimes.com. Retrieved 2016-08-28.
This article is issued from Wikipedia - version of the 12/2/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.