Covrzy, a groundbreaking insurance startup, was co-founded by Veera Thota and Ankit Kamra with a mission to transform business insurance for small and medium-sized enterprises (SMEs) in India. Veera Thota, serving as the Chief Technology Officer (CTO), holds a Computer Science and Engineering degree from the National Institute of Technology, Warangal. Her extensive experience spans across top-tier companies like Amazon and PayPal, where she has honed her technical expertise over the years.
Ankit Kamra, the Chief Executive Officer (CEO) of Covrzy, brings a strong background in Computer Programming from Guru Gobind Singh Indraprastha University. His tenure with Plum highlighted significant gaps in the business insurance landscape for SMEs, which contribute over 30% to India’s GDP. Despite their substantial economic impact, more than 85% of these enterprises remain uninsured. Drawing from his previous venture, Flashcash, which aimed to simplify business insurance, Ankit brings valuable insights into addressing these critical issues.
The inception of Covrzy was catalyzed by Veera and Ankit’s meeting at the Antler EIR program, where they decided to leverage their combined skills and shared vision. Ankit observed that while retail insurance in India was evolving, business insurance for SMEs lagged behind, often leaving these enterprises vulnerable to financial risks. Covrzy is committed to simplifying the insurance process, enhancing customer experience, and directly addressing these challenges.
Covrzy aims to revolutionize the sector by providing quick policy recommendations and raising awareness through strategic content. The startup offers a range of tailored insurance products specifically designed to meet the needs of SMEs and startups, particularly in sectors like Fintech and SaaS. Their offerings include Commercial General Liability, Cyber Insurance, and Export Credit, ensuring comprehensive coverage for the varied needs of modern businesses.
By streamlining the insurance process and offering customized solutions, Covrzy is set to make a significant impact on the business insurance landscape in India, providing SMEs with the protection they need to thrive.
