CoverWallet
- Company typePrivate
- Founded2015
- HeadquartersNew York, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What CoverWallet does
CoverWallet is a New York-based digital insurance platform founded in 2015 that distributes small business commercial insurance online, targeting US SMBs across specialized verticals including healthcare, law, dental, accounting, and nonprofit organizations. The platform offers a comprehensive product portfolio spanning seven core commercial lines (general liability, workers compensation, business owners policy, commercial property, professional liability, commercial auto, and umbrella insurance) alongside five industry-specific insurance packages. The technology layer is a digital self-service platform that supports online quote generation, coverage comparison, and policy purchase, supplemented by human advisor support via phone, reflecting a high-tech/high-touch model.
CoverWallet operates within the Aon Affinity brand portfolio for distribution, leveraging Aon's small business insurance platform, customer base, and carrier network to reach buyers. In March 2026, CoverWallet announced a strategic partnership with Starr Insurance Companies to co-develop a new online insurance platform targeted at small businesses, deepening its carrier-side capabilities. The company has raised approximately $28.3M in disclosed equity funding across a 2016 seed, 2016 Series A, and 2017 Series B, plus strategic investments from Zurich Insurance Group and Starr-related entities.
The business model is commission-based: as a digital insurance broker/platform, CoverWallet earns transaction fees (commissions) from insurance carriers for policies placed through the platform, with revenue tied to the volume and premium value of policies sold across verticals. Pricing is quote-based rather than tiered, with annual billing cadence reflecting standard commercial insurance practice. Distribution combines product-led growth through the digital self-service channel with channel/reseller motion through Aon Affinity and carrier partnerships, creating a hybrid go-to-market that targets SMB buyers domestically.
CoverWallet firmographics
Firmographics- Name
- CoverWallet
- Website
- https://coverwallet.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
CoverWallet industry classification
Industry- Product category
- Small Business Commercial Insurance Brokerage
- NAICS
- Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Commercial Lines Insurance Brokerage (FSAEADAB)
- akta.pro secondary industries
- Commercial General Liability (CGL) (FSAJADAA), Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)
Keywords
Where CoverWallet is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
CoverWallet business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Insurance Premiums and Commissions: As a digital insurance broker/platform, CoverWallet generates revenue by facilitating insurance policies for small businesses. The company earns commissions from insurance carriers for policies placed through their platform. Revenue is driven by the volume and premium values of policies sold to small business customers across various coverage types.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Customized business insurance coverage with tailored policies |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels1 record
CoverWallet product offering
Product offeringCore offering
CoverWallet operates a digital insurance brokerage platform that helps U.S. small businesses identify, compare, and purchase tailored commercial insurance coverage online, supported by dedicated personal advisors. The offering spans core commercial lines (general liability, workers compensation, business owners policy, commercial property, professional liability, commercial auto, umbrella) and industry-specific packages for healthcare, legal, dental, accounting, and nonprofit firms.
Product overview
CoverWallet operates as a digital small business insurance platform that offers a comprehensive portfolio of insurance products. The platform provides both core commercial insurance products (General Liability, Workers Compensation, Business Owners Policy, Commercial Property, Professional Liability, Commercial Auto, and Umbrella Insurance) alongside industry-specific insurance solutions tailored for Healthcare Firms, Law Firms, Dental Firms, Accounting Firms, and Nonprofits. The platform emphasizes digital distribution through Aon Affinity, enabling small businesses to obtain tailored insurance coverage via an online channel with personalized service support.
Differentiator
Problem solved
Functional benefit
Products and services
- General Liability Insurance
Companies that use CoverWallet
Customer profileNamed customers1 record
Segments6 records
Ideal customer profiles6 records
CoverWallet technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
CoverWallet partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Starr Insurance CompaniescoreStarr Insurance Companies partnered with CoverWallet to develop a new online insurance platform targeted at small businesses. The partnership focuses on creating tailored insurance products accessible via digital channels. This strategic collaboration enables Starr Insurance to leverage CoverWallet's digital platform capabilities while CoverWallet gains access to Starr's insurance products and carrier relationships to expand their small business insurance offerings.
- Aon AffinitycoreCoverWallet operates as part of the Aon Affinity brand portfolio for small business insurance distribution. Aon Affinity is a major insurance broker and program administrator that provides CoverWallet with distribution channels, brand credibility, and access to their established small business customer base. The partnership enables CoverWallet to reach small businesses through Aon's digital platform and network.
Scale indicators1 record
Recent moves6 records
Expansion highlights5 records
CoverWallet competitors and assessment
Company assessmentDirect peers
- Embroker: Digital commercial insurance broker targeting small and mid-sized businesses with specialized industry bundles. Comparable digital-first distribution model and multi-line approach.
- Hiscox USA: Established SMB-focused insurer and direct digital channel for small business liability and professional lines. Competes head-to-head with CoverWallet in online SMB commercial insurance.
- Next Insurance: Direct digital-first competitor selling commercial insurance (general liability, workers' comp, professional liability) to small businesses online. Closest analog to CoverWallet's SMB, multi-line, digital broker model.
- Thimble: Digital SMB insurance platform offering short-term and annual policies for small businesses and freelancers. Direct competitor in the online, on-demand small business insurance category.
- Founder Shield: Specialty commercial insurance broker focused on venture-backed and small businesses, particularly tech startups. Comparable SMB-targeted, multi-line broker with digital distribution.
Broad incumbents
- Marsh McLennan: Global commercial insurance broker with growing digital SMB capabilities. Comparable commercial brokerage model at much larger scale; competes in commercial lines distribution.
- The Hartford: Major US commercial lines carrier and broker with deep small business franchise. Overlaps with CoverWallet in workers' comp, BOP and general liability for SMBs.
- Aon (Affinity): Global insurance broker and CoverWallet's distribution parent via Aon Affinity. Provides the small-business distribution rails CoverWallet rides on and is the broader incumbent whose SMB program CoverWallet operates inside.
Emerging players
- Coterie Insurance: API-driven commercial insurance platform focused on small businesses. Comparable digital SMB insurance distribution model with an emerging technology-led approach.
- Bunker: Commercial insurance brokerage for small businesses and contractors. Overlaps with CoverWallet's SMB broker offering and target verticals like contractors and trades.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
CoverWallet social profiles
Digital presenceCoverWallet financial estimates
Financial estimateRevenue estimate
Valuation estimate
CoverWallet leadership team
Management profileNumber of profiles
Profiles6 records
CoverWallet funding detail
Funding detailFunding overview
Funding rounds6 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CoverWallet M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CoverWallet
What does CoverWallet do?
CoverWallet operates a digital insurance brokerage platform that helps U.S. small businesses identify, compare, and purchase tailored commercial insurance coverage online, supported by dedicated personal advisors. The offering spans core commercial lines (general liability, workers compensation, business owners policy, commercial property, professional liability, commercial auto, umbrella) and industry-specific packages for healthcare, legal, dental, accounting, and nonprofit firms.
Is CoverWallet a public or private company?
CoverWallet is a private company. It is classified as venture growth investor backed and is currently operating.
When was CoverWallet founded?
CoverWallet was founded in 2015. It employs 251 to 500 people.
Where is CoverWallet based?
CoverWallet is headquartered in New York, United States, in the North America region.
How does CoverWallet make money?
One revenue line is on record: insurance Premiums and Commissions.
Who are CoverWallet's main competitors?
Direct peers on record are Embroker, Hiscox USA, Next Insurance, Thimble and Founder Shield. Broad incumbents are Marsh McLennan, The Hartford and Aon (Affinity). Emerging players are Coterie Insurance and Bunker.
Does CoverWallet have an API?
No public API is recorded for CoverWallet.
What industry is CoverWallet in?
CoverWallet's product category is Small Business Commercial Insurance Brokerage. Its primary akta.pro industry code is FSAEADAB, Commercial Lines Insurance Brokerage, with a secondary code of FSAJADAA, Commercial General Liability (CGL). Its NAICS code is 52421 and its SIC code is 6411.