Bengaluru-based insurtech startup, Covrzy on Tuesday announced it has received a direct broking (general) license by the Insurance Regulatory and Development Authority of India.
This means that Covrzy can function as an insurance broker of record in India, and provides all types of business Insurance solutions
The startup, which last May secured a $400K pre-seed investment led by Antler (with Veda VC now former Shastra VC)
Covrzy, built by Ankit Kamra and Veera Thota lays emphasis on a seamless customer friendly insurance purchasing path predominantly for startups & SME/MSME sector in India.
By enabling insurance coverage and claims support to SMEs, Covrzy democratizes Insurance distribution in India leveraging through its digital-first strategy.
Till date, Covrzy claims to have boarded over 500 clients pan-India, including both MSMEs and startups, with Redcliffe Labs, Orange Labs, Karboncard, and Schbang being some of their prominent clients.
The startup has also collaborated with various renowned insurer partners like ICICI Lombard, Bajaj Allainz, IFFCO Tokio, among others.
