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coverfox.com

Founded Year

2013

Stage

Series C - III | Alive

Total Raised

$49.49M

Last Raised

$5.89M | 3 yrs ago

Mosaic Score

+10 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Coverfox

Coverfox provides a smarter way for people to buy and manage their insurance. It offers products online for Indian customers across categories like Health, Car, Life, Travel, and Home Insurance, featuring top insurance brands in India.

Coverfox Headquarter Location

Unit B2-601, Boomerang, Chandivali Farm Road Near Chandivali Studio, Andheri East

Mumbai, 400 072,

India

+91 22 6503 6444

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Research containing Coverfox

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Coverfox in 2 CB Insights research briefs, most recently on Aug 8, 2019.

Expert Collections containing Coverfox

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Coverfox is included in 3 Expert Collections, including Insurtech.

I

Insurtech

1,798 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

F

Fintech

3,403 items

H

Health Plans & Benefits Management

716 items

Companies developing or offering digital platforms and services, including online insurance marketplaces, data analytics for claims adjustment, benefits administration, and payments systems, that help make private health insurance more affordable, navigable, or transparent.

Latest Coverfox News

Morning Scan: All the big stories to get you started for the day

Mar 25, 2022

A round-up of the biggest articles from newspapers A round-up of the biggest articles from newspapers Reserve Bank to review business models of payment firms The business models of payment aggregators are under scrutiny by the Reserve Bank of India on allegations of frauds suffered by customers due to unauthorised sharing of financial data. The banking regulator has asked for information from these entities on their activities, including the sharing of customer data. Why it’s important: Ever since the Central bank abolished the merchant discount rate on the unified payments interface and RuPay transactions two years ago, payment aggregators have been facing a tough time to generate revenues. But that cannot be an excuse for sharing sensitive financial information, which if proved true can invite penal action and tighter regulation. Government to tighten rules on taxation of cryptocurrencies The finance ministry has proposed to tighten the norms for taxation of cryptocurrencies by disallowing setoff of any losses with gains from other virtual digital assets. Finance Minister Nirmala Sitharaman is expected to move an amendment today that clarifies that no tax deduction or setoff will be available in place of mining cost of crypto and other virtual digital assets, or losses from their transfer. All transfers of crypto assets will be covered under the proposed 30 percent tax, irrespective of whether they were a capital asset or not. Invesco withdraws demand for Zee recast, will monitor merger with Sony Invesco Developing Markets Fund, the largest shareholder of Zee Entertainment Enterprises, signalled the end of a feud with the broadcaster by withdrawing a call for a special shareholders’ meeting to remove managing director Punit Goenka and recasting the board. It will however continue to monitor Zee’s ongoing merger with Sony group. Why it’s important: The Zee-Sony merger deal has been struck at Rs 250 per share, while Invesco bought a stake at an average price of around Rs 223 per share in 2019. After the merger, Sony will be the sole promoter of the merged entity with 51 percent stake. Reliance, Hyundai selected for production-linked incentives for battery storage The government has selected Reliance New Energy Solar, Hyundai Global Motors, Ola Electric Mobility, and Rajesh Exports under the production-linked incentive scheme for battery storage. Hyundai and Ola Electric have been selected to set up battery manufacturing capacity of 20-gigawatt hour (GWh) each. The green energy unit of Reliance and Rajesh Exports will be offered the scheme benefits for setting up 5 GWh of manufacturing capacity. Why it’s important: An increase in demand for electric vehicles in India, boosted by a favourable regulatory framework, has helped attract investment in this sector. The Central government in May 2021 approved a national program on battery storage that targets a domestic manufacturing capacity of 55 GWh of battery storage with an outlay of Rs 181 billion. Reserve Bank in talks on trade payment option with Russian banks Just days before US sanctions on Russian banks kick in on March 26, the Reserve Bank of India held a meeting this week with officials of VTB, Sberbank and Gazprombank, three large Russian financial institutions, to explore a possible payment mechanism for trade between the two nations. One of the options is a possible rupee-rouble trade where local exporters and importers pay and receive payment respectively in the domestic currency. Why it’s important: Most Russian banks have been frozen out of the SWIFT international payments transfer system, making trade with the country difficult. Finding a way out of the conundrum will be difficult but necessary so that Indian traders do not suffer losses. Ecommerce firm Meesho looks to raise $500 million to fund acquisitions Social ecommerce company Meesho has appointed Morgan Stanley to identify a lead investor for a fresh round of funding that will be used primarily to build up a war chest for acquisitions. The size of the fundraiser may be around $500 million. Meesho´s investors expect the funding to push the valuation of the company to $5.7 billion from the current valuation of $4.9 billion. Why it’s important: The conflict in eastern Europe has created challenges for smaller startups to get fresh funding. The fresh funds will provide an opportunity for Meesho to look at acquisitions to expand its business faster and get attractive deals. Metal firms, drug makers gain from disruption caused by the Ukraine war The Ukraine war has spelt better business for some sectors such as steel, aluminium, sugar, and pharmaceuticals. Indian steelmakers are benefiting from rising prices of the commodity. Aluminium makers are gaining from the disruption in supplies from Russia and Ukraine. Pharma companies are expected to see a surge in sales in Russia as Western companies exit the nation. Rising crude prices have shifted focus to ethanol, benefiting Indian sugar producers. Why it’s important: The war in eastern Europe has meant tough times for most Indian companies, but some sectors have not only bucked the trend but also stand to benefit from the disruptions. IndusInd Bank to sell Future Retail and Asian Hotels loans to Edelweiss IndusInd Bank has agreed to sell Rs 2.47 billion of loan assets in Future Retail and Asian Hotels (North) to Edelweiss Asset Reconstruction Company for Rs 1.95 billion, which translates into a haircut of about a fifth of the total sum advanced to the two stressed borrowers. Why it’s important: Indian lenders are looking to cut their losses from financially stressed and insolvent companies by recovering as much money they can from asset reconstruction companies. This reduces their non-performing assets and bolsters balance sheets. Google pilots third party billing option for select developers amid controversy In a significant move, Google has announced the launch of a pilot program that allows a few developers to offer an additional billing system alongside Google Play’s billing system. The Alliance of Digital India Foundation, an advocacy group, called Google’s user choice billing announcement for select developers a tactic to provide an illusion of choice. Why it’s important: The development comes at a time when Google is facing scrutiny on its app store payment structure by the Competition Commission of India. Google and Apple have also been facing international regulatory heat due to their app store practices. Insurance tech readies products for India’s gig economy Driven by rising demand from specialised gig workers, insurance firms are introducing niche products that include daily to weekly insurance covers in line with India's rapidly expanding gig economy. Leading the pack are a clutch of technology-backed new age insurers such as Probus Insurance Broker Pvt. Ltd, Coverfox Insurance Broking Pvt. Ltd, and Plum Benefits Pvt. Ltd, which are offering mental health, accident, and credit insurance for the new set of independent contractors. Why it’s important: The gig economy in India got a boost during two years of the COVID-19 pandemic, when many people opted or were compelled to work for a certain amount of time. This trend is set to grow and so will the need for specialised products to cater to them. Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary. Moneycontrol News

Coverfox Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Coverfox Rank

  • When was Coverfox founded?

    Coverfox was founded in 2013.

  • Where is Coverfox's headquarters?

    Coverfox's headquarters is located at Unit B2-601, Boomerang, Chandivali Farm Road, Mumbai.

  • What is Coverfox's latest funding round?

    Coverfox's latest funding round is Series C - III.

  • How much did Coverfox raise?

    Coverfox raised a total of $49.49M.

  • Who are Coverfox's competitors?

    Competitors of Coverfox include Digit Insurance and 5 more.

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