Covered Raises $700K Seed Round to Streamline Choosing and Buying Home and Auto Insurance
Covered Insurance, a Denver-based startup that combines modern, easy-to-use insurance quote comparison technology and digital-friendly customer service, today announced it has raised $700,000 to fuel its expansion to markets across the United States.
Consumers use Covered’s technology to quickly compare multiple insurance quotes from top insurance carriers and receive immediate assistance from highly trained, licensed insurance agents. Mortgage Lenders use Covered to instantly offer multiple, impartial insurance quotes to their borrowers.
“We see a remarkable opportunity to streamline and explain insurance in plain language that everyone understands,” said Ross Diedrich, Co-founder and CEO. “This funding allows us to build on the traction we’ve established and reach more lenders and consumers faster.”
Benefits for Consumers:
Consumers can compare multiple quotes from top-rated insurance providers in an easy, understandable way. Highly trained, friendly, insurance agents help consumers find the right insurance at the right price. Consumers get help when they need it via phone, chat or text to make it as convenient as possible.
Benefits for Mortgage Lenders:
Loan Officers shorten the time required for borrowers to obtain homeowners insurance from days to minutes. Lenders comply with all federal and state insurance and consumer protection regulations. Borrowers experience a faster, easier, more streamlined insurance purchasing process.
Covered is currently partnered with the following insurance providers: Travelers, Encompass, Dairyland, Safeco, Stillwater, Progressive, Hanover, and other major carriers.
“We are very pleased with early traction, a great team, and an enormous market opportunity.” said Luke Lester, leader of the due diligence team at the Black Hills Regional Angel Fund. “Covered has been executing and growing fast,” said investor Kerem Ozmen of Ozmen Ventures, an early stage venture capital fund based in Reno, Nevada. “CEO Ross Diedrich, a fellow University of Nevada, Reno graduate, is driven to modernize the insurance industry and Ozmen Ventures shares his commitment to innovation.”
About Covered Insurance
Covered is a modern independent insurance agency focused on making insurance easy to understand and painless to purchase by combining innovative technology with highly-trained insurance experts. With Covered’s seamless, end-to-end digital experience, consumers can quickly purchase the insurance they need and mortgage originators to close more deals, faster. For more information, visit http://www.itscovered.com.
