iCover Insurance, Inc.

Based in Missouri, US, and founded in 2018, iCover Insurance, Inc operates as an insurtech company that uses it algorithmic underwritings which help insurers to sell, underwrite and issue life insurance. The company was founded by Hari Srinivasan (CEO) and Nicole Mwesigwa (COO). In August 2022, iCover insurance, Inc. raised USD 5 million in pre-series A funding.

It uses intelligent automation that uses artificial intelligence and machine learning to detect the risk of disclosures and supplemental data source, it helps the insurer to assess data sources and helps them accounts for undisclosed risks, after following these steps the artificial intelligence and machine learning helps the insurer to predict mortality by using the algorithms that quantify the degree of variance and confidence in the data. The algorithms are finely tuned that is used for scoring and aligning as per guidelines and risk appetite. Data analytics and machine learning are used to assess consumer applications. It also offers digital transformation services to insurers which takes four weeks to onboard and launch and offers support services.

It also offers an application named QUITM which is a polling science-based application that uses behavior-based questions to increase participation and accuracy. The company plans to use August 2022, funding to widen its sales and marketing.