Sunday February 28, 2021
Bitcoin (BTC) $44,851.00   Ether (ETH) $1,361.42
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Capital Raising

Decentralized insurance protocol Kover.ai raises $1.5M in seed round

Published by CryptoNinjas.net
11/04/2019
Decentralized insurance protocol Kover.ai raises $1.5M in seed round

San Francisco-based startup Kover.ai, creators of a decentralized insurance coverage application, announced it recently closed a $1.5 million seed round from some big names in the Silicon Valley and Chicago tech ecosystems.

The round was led by West Loop Venture, with additional investments from Afore Capital and Techstars Venture. Kover.ai was also one of the nine companies that came out of the 2019 MetLife Digital Accelerator Powered by Techstars.

Kover.ai

Any business can use Kover.ai’s infrastructure through a simple API to build and distribute coverage products to its own customers, bypassing the need to involve an insurance company.

For example, a rideshare app company with lots of drivers can build and distribute a self-insured “Driver Income Protection” to its drivers just by making an API call to Kover.ai’s API. In contrast, it takes years to build a new product on the traditional insurance infrastructure.

Powered by Smart Contracts

Premiums collected for each product go into a pool managed by a smart contract. This is called “autonomous coverage” since neither Kover nor the smart contract serves the interests of profit-driven insurance companies. Instead, the contract serves the community of members themselves. In other words, by using code to replace unwieldy carrier back-offices, autonomous coverage is cheaper, safer and a more scalable risk-hedging solution than traditional insurance.

“Insurance is an important societal infrastructure. It takes care of our downside so we can focus on pursuing the upsides of life, like a meaningful career, a happy family, and so on. However, insurance is tremendously inefficient today. The cost of inefficiency is hurting the consumers in the form of overpriced premiums, slow payouts, and lack of accessibility. We have a unique opportunity to fix this fundamental yet obsolete social infrastructure. When Kover.ai succeeds, insurance will be as accessible as running water.”
– Kover.ai Co-founder, Zack Peng

10
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Crypto platform NetCents to offer users access to DeFi protocols thru Vesto
Networks & Protocols

Crypto platform NetCents to offer users access to DeFi protocols thru Vesto

02/27/2021
SmartKey to integrate with GeoDB to build the blockchain-based data ecosystem
Networks & Protocols

SmartKey to integrate with GeoDB to develop blockchain-based data ecosystem

02/26/2021
This was avoidable – The lost Bitcoin fortunes
Bitcoin

This was avoidable – The lost Bitcoin fortunes

02/26/2021
Bitcoin exchange Xcoins receives In-Principle Approval for Malta's VFA license
Crypto Exchanges

Bitcoin exchange Xcoins receives In-Principle Approval for Malta’s VFA license

02/26/2021
Token-based commodities DEX Mettalex launches on Binance Smart Chain and Ethereum
Crypto Exchanges

Token-based commodities DEX Mettalex launches on Binance Smart Chain and Ethereum

02/26/2021
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Glow programming language brings smart contract simplicity to Cardano

Glow programming language brings smart contract simplicity to Cardano

02/26/2021
This was avoidable – The lost Bitcoin fortunes

This was avoidable – The lost Bitcoin fortunes

02/26/2021
ZelaaPayAE deploys Pundi X's merchant crypto payment solutions for UAE

ZelaaPayAE deploys Pundi X’s merchant crypto payment solutions for UAE

02/24/2021
Anchorage raises $80M Series C, led by GIC, Singapore's sovereign wealth fund

Anchorage raises $80M Series C, led by GIC, Singapore’s sovereign wealth fund

02/25/2021
Tendermint invests in Tgrade to bolster Cosmos' growing DeFi ecosystem

Tendermint invests in Tgrade to bolster Cosmos’ growing DeFi ecosystem

02/24/2021
Crypto platform NetCents to offer users access to DeFi protocols thru Vesto

Crypto platform NetCents to offer users access to DeFi protocols thru Vesto

02/27/2021
SmartKey to integrate with GeoDB to build the blockchain-based data ecosystem

SmartKey to integrate with GeoDB to develop blockchain-based data ecosystem

02/26/2021
This was avoidable – The lost Bitcoin fortunes

This was avoidable – The lost Bitcoin fortunes

02/26/2021
Bitcoin exchange Xcoins receives In-Principle Approval for Malta's VFA license

Bitcoin exchange Xcoins receives In-Principle Approval for Malta’s VFA license

02/26/2021
Token-based commodities DEX Mettalex launches on Binance Smart Chain and Ethereum

Token-based commodities DEX Mettalex launches on Binance Smart Chain and Ethereum

02/26/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version