Insurance technology company CoverGo is expanding its business to the US, Canada, and Latin America.
CoverGo provides a no-code platform for insurance firms, enabling them to streamline their ecosystem from building products to managing claims. With offices in Hong Kong, Singapore, and Vietnam, the company’s subscription revenue rose by over 400% since January 2021.
In a company release, CoverGo said that it has appointed advisory firm DP88 as its strategic advisor, to help expedite its international expansion. The insurtech explained that the partnership has helped it secure initial funding for expansion, market insights and relationships with key partners and investors for an upcoming equity fundraising round.
"Insurance companies realise now more than ever that custom IT development is slow and costly while off-the-shelf software packages can't satisfy the flexibility they require. This is why we see fast growing demand worldwide for a truly configurable no-code platform,” said CoverGO CEO Tomas Holub. “The strategic partnership with DP88 and upcoming investment will help roll out CoverGo to insurance companies globally."
"We were very impressed with the interoperability capability of CoverGo technology for the insurance industry, which has many legacy systems to integrate to new digitized platforms,” said DP88 CEO David Piesse. “Their technology is reducing time to integrate and bring new products and innovations to market by a significant amount."