New York-based insurtech startup CoverWallet has formed a partnership with Zurich Insurance to provide insurance to small businesses in Europe through an online portal. This new distribution model will reportedly launch in Spain.
The program, which can help customers find coverage in minutes, “reinforces our bet for innovation and for change towards a new digital model,” according to Vicente Cancio, Zurich Spain CEO. CoverWallet added, in a press release: “We are excited to team up with a preeminent global brand, with such a rich history, deep insurance expertise, and passion for tech innovation. In leveraging the power of automation through CoverWallet, Zurich will now be able to help millions of businesses that are un- or under-insured in Europe.”
CoverWallet has focused on the small business market in the United States, helping them to better understand, buy, and manage their insurance.