COVR Global raises $2.5 million

COVR Global, a London-based startup offering a solution to settle claims faster, has raised $2.5 million in a seed round led by MTech Capital, with participation from B Capital.

Founded in 2024, COVR’s Decision Engine combines AI, machine learning, and decision logic to support instantaneous decision-making across the entire insurance claim lifecycle. The solution allows insurers to answer questions in real time when settling claims relating to coverage and liability, as well as offering advice on the best course of action.

COVR currently operates across the UK, Spain, Japan and Australia and “partners with some of the world’s largest insurers.”

“We’re at an early stage of the transformation of the insurance industry by AI. Clearly AI — with its core strengths of analyzing, classifying and summarizing unstructured data — is a game changer for more effective claims settlement. We believe Markus and the senior executives he has assembled are the most experienced team in the market today for claims technology. We’re very excited by the potential we see for COVR to become a claims powerhouse with a global footprint.” – Kevin McLoughlin, Partner and Co-Founder of MTech Capital.