Covera: Embedded insurance for marketplaces

Through a single API, Covera lets marketplaces and platforms offer insurance at the point of sale. A peer-to-peer rental site can add damage cover to each booking, or a freelance platform can give its workers income protection, while Covera handles pricing, policy documents, claims and regulatory reporting across 14 European markets.

Daniel previously ran partnerships at a London insurance broker, and Elif built claims systems for a large European insurer. Hana led our investment in the 2023 Series A. What stood out was the claims experience: most claims through Covera are settled within 48 hours, which keeps both the platforms and their users coming back.

Covera now works with more than 120 platforms and wrote over £90 million in gross premiums last year, with a loss ratio well below the market average.