CoverGo, a global no-code insurance software-as-a-service (SaaS) platform, has rolled out CoverGo Distribution, a new AI-based insurance platform designed for omni-channel distribution.
This AI solution is engineered to assist insurance companies, brokers, MGAs and other stakeholders in distributing a range of insurance products, covering life, health and P&C.
These products are distributed through diverse channels such as direct sales, brokers, embedded insurance, agents, as well as bancassurance and affinity partnerships.
According to CoverGo, the new platform provides AI-driven workflows and automation services along with no-code configuration capabilities protected by patents, and integration middleware application programming interfaces (APIs).
The CoverGo Distribution platform can be deployed to help insurance companies expedite product launches, enhance conversion rates, tap into new customer segments, and minimise both turnaround times and costs.
It also aims to offer a seamless customer experience and streamline the entire process, from quote to issuance and renewals, while integrating smoothly with existing core systems.
CoverGo said it has already observed significant demand for this platform, initiating collaborations with early adopters such as AXA, prior to the official launch of CoverGo Distribution.
Other partners across the Europe, Asia-Pacific (APAC), Middle East and Africa (EMEA) and Americas regions have also shown interest in the new platform.
Commenting on the development, CoverGo CEO and founder Tomas Holub said: “The launch of CoverGo Distribution addresses the growing demand from insurers, MGAs, brokers and other distributors who want to elevate their distribution and increase sales in the most flexible, scalable and cost-effective way using the latest technologies.
“CoverGo Distribution is set to redefine efficiency, productivity and user experience for all stakeholders in the insurance distribution space and ultimately benefit the end-customers as well.”
CoverGo helps insurance companies worldwide rapidly develop and deploy various insurance products, and digitise policy administration and claims processes, while enabling omni-channel distribution.
Its clientele includes insurance companies such as Bupa, AXA and Dai-ichi Life.
In July 2023, AXA Hong Kong and Macau announced an alliance with CoverGo to improve its general insurance ecosystem in Hong Kong.
“CoverGo launches AI-driven insurance distribution platform ” was originally created and published by Life Insurance International, a GlobalData owned brand.