Greenlight Re Innovations, part of Greenlight Capital Re has made a strategic investment in Cove Limited, a personal lines digital MGA.
Launched in September 2018, New Zealand based Cove enables consumers to purchase insurance products online through a user-friendly interface that operates on mobile and desktop platforms. Cove has re-engineered every step of the process by which people buy insurance, making it simple and affordable.
Greenlight Re Chief Executive Officer Simon Burton said, “We believe Cove’s technology-driven business model has the potential to transform New Zealand’s insurance market. Consumers are demanding a fully online experience, and Cove has delivered it for motor and mobile phone insurance. We look forward to supporting Cove as it develops new product offerings.”
“We are delighted to welcome Greenlight Re as a partner on our mission to bring a world leading insurance experience to New Zealand,” Andy Coon, Cove CEO, stated. “Cove is excited to be a part of GreenlightRe’s insurtech ecosystem and we look forward to establishing partnerships to accelerate our pace of development.”
Cove represents the ninth strategic investment made by Greenlight Re Innovations.
Source: Company Press Release