Zurich Insurance Group has acquired a minority stake in CoverWallet, a start-up that has developed an online-based insurance management platform.
The investment comes on the back of a commercial partnership both companies entered into in February. Through the partnership, CoverWallet extended its US platform to Europe, allowing Zurich to offer small businesses a platform to learn policy types, get quotes, purchase insurance, and manage their coverage, a release said. CoverWallet’s platform is currently live in Spain and – thanks to the investment – will continue to expand to other European countries with Zurich’s help.
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