I love this idea, reminds me to some extent of Buzzmove from the original Startup Bootcamp cohort.
In this instance, using clever A.I, you can simply 'wave your phone around' to identify everything from your pet to your belongings. What a simple neat idea, and yet another insurance friction point - zapped!
Long may this simple sort of innovation continue.
Whether it’s electronics, jewelry or even your pet, Cover will cover just about anything. Cover is licensed to sell insurance and they work with Progressive, Allstate, Nationwide and other major providers to tailor a plan for the customer, taking about a 10 to 15 percent commission for referring the business.
Now they’ve raised an $8 million Series A led by Social Capital and are announcing a previously undisclosed $3 million seed round. Arjun Sethi from Social Capital will be joining Cover’s board.
Cover is “reducing the amount of friction it takes for you to feel secure as a human being,” said Sethi. “Everyone needs insurance.”