The team at Covernow has sat at every seat at the table — insurer, reinsurer, broker, technology platform. We have seen the same failure repeat itself across decades: insurance products designed for the top of the pyramid, sold by channels that cannot reach the bottom, priced in a way that excludes the very people who need it most.
We built Covernow to break that pattern. As an IRDAI-licensed broker operating on a purely B2B embedded model, our distribution cost is a fraction of retail. Our product design starts with the end customer, not the insurer's product shelf. And our technology makes insurance invisible — embedded at the moment of borrowing, not sold as a separate, reluctant decision.
We are passionate about the 400 million uninsured. Not as a market opportunity alone — but as a moral imperative. India's financial inclusion story is incomplete without insurance. We intend to write the next chapter.
India's microinsurance and underserved-customer segment is the fastest-growing part of an industry that's barely scratched the surface of its potential.
India is the world's 10th largest insurance market — yet penetration sits at just 3.7% of GDP (Life: 2.7%, Non-Life: 1.0%). About 600 million Indians have no health insurance at all.
This segment — about 30–40% of India's population — bears the highest risk of "Catastrophic Health Expenditure" pushing them back into poverty. Per NITI Aayog, this is one of the highest protection gaps in Asia.
Individuals not poor enough for government schemes like PMJAY (which covers the bottom 50%) but unable to afford private insurance. About 30–40% of India's population.
The portion of the TAM reachable through existing digital and financial infrastructure (DPI) — Jan Dhan accounts, UPI, smartphones, and partner channels.
Current realized revenue from inclusive and micro-insurance products. Actively converting at 1% growth per year — and accelerating.
Behind every market statistic is a family one hospitalisation away from financial ruin, a borrower unable to repay after losing an earner, a farmer wiped out by a flood. These are the people we exist for.
Sources: IMARC Group · IRDAI Annual Report · NITI Aayog · India InsurTech Association · PIB
"Making insurance simple, accessible and affordable — one underserved community at a time."
Purposeful insurance designed from the customer up. Affordable premiums, simple benefit structures, and claims processes designed for first-time claimants.
API-first infrastructure that scales without hiring. Partner integrations in days, real-time dashboards, and embedded issuance at every customer touchpoint.
Deep MFI & NBFC distribution built on trust. We invest in relationships first — co-designing products with partners who share our mission for the underserved.
Whether you're a partner, an insurer, or just curious — we'd love to talk.