Qover builds InsurTech in five minutes, announces Munich Re partnership

Published date
October 3, 2017
In a nutshell

Las Vegas, Nevada: Qover has just demonstrated its full insurance solution on stage at InsureTech Connect in Las Vegas, where an insurance product is no longer a stack of papers, but a piece of code in the form of an open API.

Any company, broker or retailer can now offer a fully digitalised insurance service to its customers in a matter of minutes. This unique technology ,combined with perfectly designed insurance products, is the reason why Qover has gained the trust of premium risk carriers, like Lloyd’s of London – Qover is the first and only InsurTech in the world to have  this – and now Munich Re Digital Partners.

'We're a digital insurer enabling digital brokers.', said Qover Co-founder Jean-Charles Velge. Unlike other InsurTech startups, Qover’s focus isn’t just on the user experience. They deliver the entire digital backend that it's connected to the risk carriers in real time.

'By thinking ”Insurance-as-a-Service”, you can start to embed insurance in any ecosystem. It becomes an invisible layer present in all aspects of day-to-day life', said Qover Co-founder Quentin Colmant. Qover is building insurance for the usage-based economy, offering any business–  be it a website, car or smart TV – the opportunity to integrate complementary insurance products into its offering.

The opportunities for open API-based, fully embedded insurance are huge – and Qover is building the infrastructure to make it happen. To do this, they're raised $9 million, obtained licenses to sell in 34 European countries and recruited a team of 30 and counting. Qover is also building five additional products and has offices in London and Brussels. They’re ready to scale up and transform the insurance world as we know it.