Coverfy
Coverfy is a Barcelona-based insurtech startup founded in 2016, backed by Spanish and European venture investors, building tools to simplify insurance for end users and businesses. The company is led by founder and CEO Vicente Arias and last surfaced publicly through the Plug and Play Insurtech program in 2021.
- Company typePrivate
- Founded2016
- HeadquartersBarcelona, Spain
- Headcount101–250
- GTM typeB2C
- OfferingSoftware
Coverfy firmographics
Firmographics- Name
- Coverfy
- Website
- https://coverfy.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Closed
- Headcount range
- 101–250 employees
- Short description
- Coverfy is a Barcelona-based insurtech startup founded in 2016, backed by Spanish and European venture investors, building tools to simplify insurance for end users and businesses. The company is led by founder and CEO Vicente Arias and last surfaced publicly through the Plug and Play Insurtech program in 2021.
- Ownership category
- akta.pro rank
Coverfy industry classification
Industry- Product category
- Insurtech — Consumer Insurance Platform
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
Keywords
Where Coverfy is headquartered
LocationHeadquarters
- HQ city
- Barcelona
- HQ country
- Spain
- HQ region
- Europe
Markets served
Coverfy business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Coverfy product offering
Product offeringCore offering
Coverfy is an insurtech startup that develops a digital platform to make insurance accessible and easy to manage for consumers. The company digitizes and centralizes insurance products so users can compare, purchase, and manage policies through a mobile-first experience. Its mission is to simplify insurance for the end consumer.
Differentiator
Problem solved
Functional benefit
Products and services
- Coverfy Insurance Platform
Companies that use Coverfy
Customer profileIdeal customer profiles1 record
Coverfy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Coverfy competitors and assessment
Company assessmentDirect peers
- Wefox: Wefox is a Berlin-based digital insurance broker offering multi-carrier distribution and policy management across Europe. It is the most direct peer to Coverfy as both operate as digitally native insurance intermediaries serving European retail customers with multi-line coverage, sharing a similar value proposition of simplifying insurance through technology.
- Simplesurance: Simplesurance is a Berlin-based insurtech providing embedded insurance distribution via API and digital channels across Europe. It is comparable to Coverfy because both sit at the intersection of digital distribution and insurance intermediation, targeting simplified cross-carrier coverage purchase experiences for consumers.
- Getsafe: Getsafe is a German digital insurance broker offering mobile-first multi-line coverage across property, liability and life. It mirrors Coverfy's mission to make insurance easy for consumers through a digital-first, advisory-led experience in European markets.
- PolicyGenius: PolicyGenius is a US digital insurance marketplace aggregating life, disability and property and casualty coverage from multiple carriers. It is comparable to Coverfy because both operate as digital insurance intermediaries that aggregate multiple carriers into a streamlined consumer purchase journey.
Broad incumbents
- Lemonade: Lemonade is a publicly listed US digital insurer leveraging AI-driven underwriting and consumer brand-building across multiple lines and geographies, including Europe. It is a broader incumbent reference for Coverfy as both pursue simplified, mobile-first insurance experiences, though Lemonade is also a risk carrier rather than a pure intermediary.
- EverQuote: EverQuote is a publicly traded online insurance marketplace connecting consumers with carrier and agent providers. While more US-centric, it shares Coverfy's aggregator/intermediary model and consumer-facing digital acquisition motion for property and casualty and life products.
Emerging players
- Brolly: Brolly is a UK-based digital insurance platform focused on simplifying personal insurance through a single-app interface and policy management. It is an emerging peer to Coverfy because both target UK/European consumers with digital-first insurance management and advisory experiences.
- Zego: Zego is a London-based insurtech offering flexible, usage-based and embedded insurance products for mobility and commercial clients. It overlaps with Coverfy in digital-first insurance intermediation and technology-led product design in the European market.
- YuLife: YuLife is a UK-based digital life insurer using gamification and engagement-driven distribution, having started as an intermediary before transitioning to underwriting. It is comparable to Coverfy as a digitally native UK/European insurance brand focused on consumer engagement and simplified insurance experiences.
Regional players
- Cover-More: Cover-More is an Australia-focused travel insurance specialist with digital distribution. It is comparable to Coverfy in operating as a digital-first insurance distribution brand under a similar naming convention, though its focus on travel in the APAC region makes it a regional reference rather than direct competitor.
Market position
Customer concentration
Coverfy social profiles
Digital presenceCoverfy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Coverfy leadership team
Management profileNumber of profiles
Profiles3 records
Coverfy funding detail
Funding detailFunding overview
Funding rounds4 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Coverfy 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 Coverfy
What does Coverfy do?
Coverfy is an insurtech startup that develops a digital platform to make insurance accessible and easy to manage for consumers. The company digitizes and centralizes insurance products so users can compare, purchase, and manage policies through a mobile-first experience. Its mission is to simplify insurance for the end consumer.
Is Coverfy a public or private company?
Coverfy is a private company. It is classified as venture growth investor backed and is currently closed.
When was Coverfy founded?
Coverfy was founded in 2016. It employs 101 to 250 people.
Where is Coverfy based?
Coverfy is headquartered in Barcelona, Spain, in the Europe region.
Who are Coverfy's main competitors?
Direct peers on record are Wefox, Simplesurance, Getsafe and PolicyGenius. Broad incumbents are Lemonade and EverQuote. Emerging players are Brolly, Zego and YuLife. Cover-More is listed as a regional player.
Does Coverfy have an API?
No public API is recorded for Coverfy.
What industry is Coverfy in?
Coverfy's product category is Insurtech — Consumer Insurance Platform. Its primary akta.pro industry code is FSAGAGAL, Embedded Insurance & Affinity Distribution Platforms. Its NAICS code is 5242 and its SIC code is 6411.