Can you guess what’s wrong with this picture?
CoverWallet announced it has raised $7.8 million in a Series A round led by Union Square Ventures . This is the second round of funding for the NYC-based digital commercial broker, which previously announced it has raised $2 million. The news follows the announcement by Starr yesterday, which launched a digital brand called Starr Insure, that also targets the digitally savvy small business owner. You can get a feel for CoverWallet’s unique UI below.
Recall digital brokers focused on small business below.
Last, the startup announced that Jim Ermilio has joined the company as president. Ermilio was previously the CEO of online auto insurance agency Goji for…four months, according to his LinkedIn profile. Fast paced environment, perhaps?
At this point, the only thing left to note is the amount of ex-Goji employees moving on to other-slash-newer startups such as IIG, Quilt, Apliant, and now CoverWallet.
Answer: CNA doesn’t sell monoline general liability quotes to small businesses; its flagship product for small business is CNA Connect, a combo of property and liability coverage hence the fine print on commercial insurance aggregator BizInsure’s premium summary:
Bottom Line: a bit of product trivia when all eyes are focused on technology.