CoverTree
- Company typePrivate
- Founded2020
- HeadquartersDetroit, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
CoverTree firmographics
Firmographics- Name
- CoverTree
- Legal name
- CoverTree Inc.
- Website
- https://covertree.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
CoverTree industry classification
Industry- Product category
- Manufactured Home Insurance
- NAICS
- Software Publishers (5132)
- SIC
- Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Insurtech-Enabled Brokerage (Digital Brokers & Aggregators) (FSAEADAN)
Keywords
Where CoverTree is headquartered
LocationHeadquarters
- HQ city
- Detroit
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
CoverTree business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Insurance Premium Revenue: CoverTree operates as a Program Administrator for CoverTree's Manufactured Home Program underwritten by Markel American Insurance Company. CoverTree acts as the agent of Markel and receives compensation based on the premiums for insurance policies sold. Revenue is generated through commissions on manufactured home insurance policies including homeowner, renter, and landlord coverage.
- Enterprise Software Platform Fees: CoverTree provides enterprise software solutions to community operators (Maple), lenders, and brokers through its Enterprise Suite. This includes book conversion services, compliance tracking, and API integration services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Homeowner coverage - Up to $500,000 home value protection |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
CoverTree product offering
Product offeringCore offering
CoverTree is an insurtech company that sells manufactured home insurance products (homeowner, renter, landlord, and Blanket Resident Liability) underwritten by Markel American Insurance Company. It operates a digital platform for direct-to-consumer quoting and policy issuance, and offers enterprise software platforms (Bonsai for independent agents, Maple for community operators, Sequoia for book conversions, and an embedded insurance API) to serve partners.
Product overview
CoverTree is an insurtech company specializing exclusively in manufactured home insurance, operating as a Program Administrator underwritten by Markel American Insurance Company. The product portfolio is a multi-platform architecture consisting of: (1) Core Insurance Products including Homeowner, Renter, Landlord, and Blanket Resident Liability (BRL) insurance policies covering single/double/triple wide, modular, ADU, park model, tiny home, and travel trailer homes; (2) Agent-facing Bonsai platform enabling independent agents to manage policies online with competitive commissions; (3) Maple platform for manufactured home community operators providing resident insurance automation and BRL program management; (4) Sequoia platform for agencies and MGAs to convert and analyze insurance books of business with automated underwriting; (5) Lender Platform integrated with Loan Origination Systems for seamless borrower insurance; and (6) an API product for embedded partner integration.
Differentiator
Problem solved
Functional benefit
Brands
- Maple: A platform for community operators to manage resident insurance requirements, featuring integrations with property management systems and automated insurance tracking.
- Bonsai
- Sequoia
Products and services
- Homeowner Insurance Manufactured home insurance covering up to $500,000 in home value, personal property, other structures, personal liability, loss of use, and medical payments. Designed for owners of single, double, or triple-wide, modular, ADU, park model, tiny home, and stationary travel trailer homes.
- Renter Insurance Insurance coverage for individuals renting manufactured homes, protecting personal belongings from theft, fire, and other events, plus liability and additional living expenses.
- Landlord Insurance Flexible insurance coverage for property owners renting manufactured homes, including dwelling protection, liability, and loss of rental income coverage to protect investment assets.
- Blanket Resident Liability (BRL) Insurance Coverage protecting manufactured home community operators against resident-caused property damage or liability at covered rental properties, including fire, smoke, water overflow, explosions, falling objects, and premises bodily injury.
- Bonsai Agent Portal Agent-facing platform for independent insurance agents to manage client policies online, access competitive commissions, and utilize supplemental preferred partner programs with territory management capabilities.
- Maple Community Management Platform Enterprise platform for manufactured housing community operators that embeds in day-to-day workflows, integrates with property management systems, automates resident insurance uptake tracking, and provides Blanket Resident Liability program management as a system of record for residents' insurance statuses.
- Maple Broker Access Broker platform enabling manufactured home community brokers to refer clients with co-branded referral links, zero admin hassle, automated compliance tracking, and revenue potential from BRL pass-through fees.
- Sequoia Book Conversions Platform Platform for MGAs, wholesalers, and agencies to securely upload book of business data, analyze and reprice risks using proprietary data models, and automatically generate bindable quotes for policy issuance.
- Lender Platform Platform integrated with Loan Origination Systems that enables manufactured home lenders to help borrowers obtain insurance during the lending process, with quotes, policy issuance, and binding occurring in under 4 minutes.
- CoverTree Embedded Insurance API Embedded insurance API for partners to integrate manufactured home insurance quoting, binding, and claims into their platforms with single-line code embedding, pre-packaged or customizable UI stylesheets, and direct carrier panel connectivity for landlord/tenant, vacant, and seasonal manufactured homes.
- Claims Filing Platform Digital claims platform enabling policyholders to file manufactured home insurance claims online or by phone with adjuster assignment, inspection scheduling, and status updates.
Quantifiable outcome
- Customers save an average of $250 per year compared to previous providers
- +3 more outcomes
Companies that use CoverTree
Customer profileNamed customers7 records
Segments6 records
Ideal customer profiles6 records
CoverTree technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature5 records
CoverTree partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Markel American Insurance CompanycoreMarkel is the insurance carrier underwriting CoverTree's Manufactured Home Program. CoverTree operates as a Program Administrator and acts as agent of Markel in selling insurance policies. The partnership enables specialized insurance products for the manufactured home market, with CoverTree developing products and Markel providing the insurance capacity and financial backing.
Scale indicators7 records
Recent moves6 records
Expansion highlights7 records
CoverTree competitors and assessment
Company assessmentBroad incumbents
- Foremost Insurance Group: Foremost is the traditional market leader in manufactured home insurance and is part of Farmers Insurance Group. It is directly comparable to CoverTree as the incumbent specialty carrier in the same MH niche, contrasting CoverTree's digital-first insurtech model with Foremost's established agency-led distribution.
- American Modern Insurance Group: American Modern specializes in niche property insurance including manufactured homes, vacant homes, and specialty dwellings. It is comparable as a specialty property insurer that has historically served the MH segment, providing a benchmark for CoverTree's addressable market and competitive positioning.
- Progressive: Progressive is a major US P&C carrier offering manufactured home insurance alongside auto, home, and other lines. It is comparable to CoverTree as a competitor in the MH insurance market with substantially greater scale and brand recognition, providing the incumbent benchmark CoverTree must outperform in product and pricing.
Direct peers
- Lemonade: Lemonade is a digital-first insurtech offering homeowners and renters insurance through a mobile app and AI-driven underwriting. It is comparable to CoverTree as a fellow insurtech using technology to disrupt traditional personal lines distribution, though Lemonade serves the broader homeowners market while CoverTree specializes in manufactured homes.
- Hippo Insurance: Hippo is a digital homeowners insurtech combining direct-to-consumer sales with embedded partnerships (e.g., homebuilders, real estate platforms). It is comparable to CoverTree's embedded insurance strategy via API and partnerships, both targeting digital-first home insurance distribution with technology-led underwriting.
- Kin Insurance: Kin is a digital home insurance platform using data-driven underwriting, particularly strong in catastrophe-prone states like Florida. It is comparable to CoverTree as a regional-focused insurtech applying technology to underserved home insurance markets with catastrophe exposure considerations.
- Openly: Openly is a digital homeowners insurtech distributing exclusively through independent agents. It is comparable to CoverTree's agent-led distribution model via the Bonsai portal, both targeting independent agent enablement with technology platforms rather than pure direct-to-consumer models.
Emerging players
- Branch Insurance: Branch is a digital-first home and auto insurtech using embedded insurance and bundling strategies. It is comparable to CoverTree as another venture-backed insurtech pursuing embedded distribution and technology-led underwriting in personal lines insurance.
- Slide Insurance: Slide is a Florida-focused insurtech offering manufactured and mobile home coverage with technology-enabled distribution. It is comparable to CoverTree as an emerging insurtech specifically targeting the manufactured home segment in catastrophe-prone regions, representing direct competition in a key geographic market.
- Trellis (formerly AHI Group / American Strategic Insurance): Trellis is a managing general underwriter for manufactured and mobile home insurance, distributing through agents. It is comparable to CoverTree as a fellow specialty MGA/program administrator for the manufactured home segment, competing for similar agent and consumer relationships in the MH niche.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CoverTree social profiles
Digital presenceCoverTree compliance and trust
Trust signalCompliance1 record
CoverTree financial estimates
Financial estimateRevenue estimate
Valuation estimate
CoverTree leadership team
Management profileNumber of profiles
Profiles4 records
CoverTree funding detail
Funding detailFunding overview
Funding rounds3 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CoverTree 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 CoverTree
What does CoverTree do?
CoverTree is an insurtech company that sells manufactured home insurance products (homeowner, renter, landlord, and Blanket Resident Liability) underwritten by Markel American Insurance Company. It operates a digital platform for direct-to-consumer quoting and policy issuance, and offers enterprise software platforms (Bonsai for independent agents, Maple for community operators, Sequoia for book conversions, and an embedded insurance API) to serve partners.
Is CoverTree a public or private company?
CoverTree is a private company. It is classified as venture growth investor backed and is currently operating.
When was CoverTree founded?
CoverTree was founded in 2020. It employs 11 to 50 people.
Where is CoverTree based?
CoverTree is headquartered in Detroit, United States, in the North America region.
How does CoverTree make money?
Two revenue lines are on record. Insurance Premium Revenue is the primary driver. The others are enterprise Software Platform Fees.
Who are CoverTree's main competitors?
Broad incumbents on record are Foremost Insurance Group, American Modern Insurance Group and Progressive. Direct peers are Lemonade, Hippo Insurance, Kin Insurance and Openly. Emerging players are Branch Insurance, Slide Insurance and Trellis (formerly AHI Group / American Strategic Insurance).
Does CoverTree have an API?
Yes. CoverTree offers an API for embedded partners to provide manufactured home insurance. The API enables platforms to embed insurance offerings with a single line of code, featuring pre-packaged or fully customizable UI style sheets, direct API connectivity with the carrier panel, ability to write landlord/tenant, vacant and seasonal MH homes, and file a claim in 3 minutes. Partners can save clients an average of $250 per year. Developer documentation is at covertree.com/api.
What industry is CoverTree in?
CoverTree's product category is Manufactured Home Insurance. Its primary akta.pro industry code is FSAEADAN, Insurtech-Enabled Brokerage (Digital Brokers & Aggregators). Its NAICS code is 5132 and its SIC code is 6399.