I used to share office space with a different Cover (paywithcover.com), and they were occasionally confused for any one of several other Cover brands (coverscreen.com, madewithcover.com, readcover.com, etc). Seems like the "Cover" space is a little tricky for that reason.
We’re working on a property and casualty insurance product built from first principles on mobile for millennials. Our product takes in a picture of property you want to insure, and connects you with a network of brokerages across the US & Canada to fulfill the requests. Soon we’ll be binding insurance ourselves.
Depending on the geography, 80-90% of all insurance transactions end up getting bound over the phone, it only makes sense that they start there.
1. Assuming you get a cut from your insurance company partners, wouldn't your incentives be aligned towards displaying higher priced insurance plans?
2. What kinds of things do millenials tend to insure other than cars and health? I, like most of my friends, don't own very much else worth insuring. If it wasn't mandated by law, I probably wouldn't insure either - it's basically a tax on the majority of young, healthy, white collar workers.
3. As a young person, cost of insurance is my primary concern. How does the tech help you compete on price with large, nationwide insurance companies with huge, diversified pools of clients? By targeting only millenials are you able to weed out high-risk, high-cost clients and bring the overall premiums down? Is that even legal? If so, I would be very interested in joining.
Sounds good if I did not already have insurance. But I do have insurance. Multiple policies, some of which are practically free after the multi-policy discounts you get when working with a single broker. And my broker is local, easy to deal with, will drop by if I need him.
I do like the ease of adding a new big ticket item via mobile, but I don't need the middleman, and don't want competing offers from a network of brokers.
Maybe I'm just not the target market. But I suspect there are more people like me who would get a better deal with my current broker vs. a new policy on a single item with a new broker.
Multi-line discounts are a key selling point of going with one carrier, something a good independent broker should arrange for you.
As an insurance customer, you have the right to switch agent representation at no cost to you (generally). What other value-added services do you think your local broker could offer outside of accommodating the occasional drop-in? What would compel you to switch brokers?
> Cover connects you with an insurance brokerage in your area best suited to insuring that piece of property.
I want to send you a picture, you quote me a price and I pay. If I have to talk to someone else, you've totally lost my interest - I can go talk to an insurance broker myself.
Side question:
How many penis pictures have you gotten?
One so far. Funny story, he gave his real phone number, real driver's license, took a picture of penis and then took a picture of his laptop for insurance.
[+] [-] Smudge|10 years ago|reply
[+] [-] ksar|10 years ago|reply
[+] [-] ksar|10 years ago|reply
Depending on the geography, 80-90% of all insurance transactions end up getting bound over the phone, it only makes sense that they start there.
Happy to take any questions. Thanks y’all!
[+] [-] roymurdock|10 years ago|reply
2. What kinds of things do millenials tend to insure other than cars and health? I, like most of my friends, don't own very much else worth insuring. If it wasn't mandated by law, I probably wouldn't insure either - it's basically a tax on the majority of young, healthy, white collar workers.
3. As a young person, cost of insurance is my primary concern. How does the tech help you compete on price with large, nationwide insurance companies with huge, diversified pools of clients? By targeting only millenials are you able to weed out high-risk, high-cost clients and bring the overall premiums down? Is that even legal? If so, I would be very interested in joining.
[+] [-] scotcha1|10 years ago|reply
[+] [-] codingdave|10 years ago|reply
I do like the ease of adding a new big ticket item via mobile, but I don't need the middleman, and don't want competing offers from a network of brokers.
Maybe I'm just not the target market. But I suspect there are more people like me who would get a better deal with my current broker vs. a new policy on a single item with a new broker.
[+] [-] ksar|10 years ago|reply
As an insurance customer, you have the right to switch agent representation at no cost to you (generally). What other value-added services do you think your local broker could offer outside of accommodating the occasional drop-in? What would compel you to switch brokers?
[+] [-] h1srf|10 years ago|reply
I want to send you a picture, you quote me a price and I pay. If I have to talk to someone else, you've totally lost my interest - I can go talk to an insurance broker myself.
Side question: How many penis pictures have you gotten?
[+] [-] adhil|10 years ago|reply
[+] [-] mathattack|10 years ago|reply
[+] [-] omarforgotpwd|10 years ago|reply
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