Insuranceciooutlook

iCover Secures Undisclosed Amount in Seed Funding

Insurance CIO Outlook | Friday, October 01, 2021

iCover is a cloud-based algorithmic underwriting platform that helps insurers sell to the middle market. By leveraging data and predictive analytics, iCover can quote, underwrite, and deliver life insurance in under 5 minutes.

FREMONT, CA: iCover, a Missouri-based Insurtech startup that provides an algorithmic underwriting Platform as a Service (PaaS) for life insurance companies, raised an undisclosed amount in seed funding. The company intends to use the funds raised to expand insurance distribution through a direct-to-consumer offering, increase technical staff and expand sales and marketing efforts.

iCover also announced a multi-year partnership with KSKJ Life, headquartered in Joliet, IL, allowing iCover to onboard KSKJ Life's full suite of products, including Final Expense Term Life, Whole Life, and Annuities on the platform to digitize their new business processes.

"We are excited about the partnership we have established with the iCover team. The experience and expertise that they offer, from the platform to business development, support our growth strategies and commitment to provide excellent service to our members and agents." said Tony Mravle, CEO for KSKJ Life.

"KSKJ Life is an ideal partner for iCover, they have an innovative mindset, agile approach to delivery and the suite of products that could help enhance the iCover platform." said Hari Srinivasan, CEO for iCover.

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