Insurance Industry Titans Collaborate to Form COVU, Helping Insurance Agents and Carriers Build Customer-Centric, Growth-Oriented Businesses
Summary
Joining them are co-founders, machine learning, AI and data science experts Amir Kargar and Amin Zarshenas.The founding team has secured $10 million in seed funding, led by ManchesterStory Group and supported by angel and VC investors across the insurance and technology industry, to launch the platform. As a turnkey offering, COVU takes ownership of front and back-office tasks, giving insurance agents time to focus on strengthening customer relationships, grow their business and embrace digital operations. A combination of technology and services help agents generate higher customer satisfaction rates, boost retention and cross selling and achieve higher profit margins.The majority of independent insurance agencies spend around 40% of total revenue and agents spend 70% of time on back-office and administrative tasksinstead of focusing on growth. In his 30 years of experience, he delivered high-growth market share and margins by creating innovative technology, user-centric products and experiences and high performing sales, marketing and distribution teams.Co-founder Amir Kargar will serve as CTO and brings deep expertise in machine learning and the application of AI for business. COVU helps find and fill coverage gaps by combining the power of AI and human intelligence while managing the business side of insurance operations.