Coverforce

What Coverforce does

Coverforce is an Australian commercial insurance brokerage founded in 1994 and headquartered in Sydney, operating as Coverforce Pty Limited with wholly-owned subsidiaries Coverforce Insurance Broking Pty Ltd and Coverforce Partners Pty Ltd. The firm places general insurance business across more than 30 product categories (including Public Liability, Professional Indemnity, Contract Works, Motor Fleet, Cyber & Privacy, Management Liability, Strata Title, Marine, Workers Compensation and Product Recall) with 100+ global and Australian underwriters, organised into industry-specific solutions spanning construction, property & strata, professional services, hospitality, healthcare, transport & logistics, manufacturing, mining and not-for-profit sectors. Its technology footprint is a quote-request website layered on a traditional broker-advisory distribution model; no proprietary AI/ML platform is described.

The company generates revenue through commissions paid by insurers for placing business, with quote-based pricing tailored to each client's risk profile and annual billing cycles. Distribution is conducted through a sales-led model with direct broker advisory across five regional offices (Sydney, Melbourne, Brisbane, Adelaide, Perth), supplemented by an online quote-request funnel, 1800/1300 phone lines and LinkedIn/SEO-driven lead generation. The firm also runs group income protection sub-brands (PayCover, Uplus, WageCare, WageGuard) that aggregate buying power for employer schemes. Compliance posture includes NIBA membership, AFCA dispute resolution membership, General Insurance Code of Practice adherence and Target Market Determinations across 30+ insurer partners under Australia's DDO regime. Leadership comprises founder & CEO Jim Angelis, CFO Jitendra Dutt, and CBDO Andrew Ferguson; Pemba Capital Partners holds a minority stake from a June 2016 investment, with no subsequent institutional capital event disclosed.

Name

Coverforce

Legal name

Coverforce Pty Limited

Website

https://coverforce.com.au

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

Coverforce is an Australian commercial insurance brokerage founded in 1994 that places business with 100+ insurers across 30+ product lines and 20+ industry verticals, serving SMB and mid-market clients through five regional offices and an online quote channel.

Ownership category

akta.pro rank

Product category

Commercial Insurance Broking

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

Keywords

• Commercial insurance broking
• Business risk management
• Professional indemnity insurance
• Construction insurance solutions
• Group income protection

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Broking Commissions: Coverforce generates revenue through commissions paid by insurance insurers for placing business. As an insurance broker, they access over 100 insurers across the globe to find quality cover for clients and earn commissions from these insurer relationships.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Coverforce is an Australian insurance brokerage firm providing commercial insurance broking and risk advisory services to businesses across Australia. The firm accesses over 100 global and domestic insurers to arrange tailored coverage across 30+ insurance product lines (Public Liability, Professional Indemnity, Cyber, Motor Fleet, Contract Works, Workers Compensation, Marine, etc.) and 20+ industry-specific solutions covering Construction, Strata, Property, Professional Services, Manufacturing, Hospitality, Healthcare, Transport, Dry Cleaners and other verticals. Coverage is delivered via a team of dedicated brokers across five Australian offices rather than direct online purchase.

Product overview

Coverforce is an Australian insurance broking firm providing professional risk advice and insurance solutions to businesses across the country since 1994. Its offering is a portfolio of specialist insurance products organised into two main groupings: (1) a broad range of standalone insurance products covering property, liability, people, marine, construction and specialty risks (including Contract Works, Public Liability, Professional Indemnity, Management Liability, Cyber & Privacy, Motor Fleet, Workers Compensation, Product Recall/Contaminated Product Insurance, Principal Controlled Insurance, Owner Builder Insurance, and many more); and (2) a set of industry-specific insurance solutions tailored for sectors such as Construction & Building, Hospitality, IT, Manufacturing, Marine, Medical & Dental, Mining & Resources, Real Estate, Transport & Logistics, and Dry Cleaners. Coverforce also distributes three group income protection sub-brands — PayCover, UPlus, WageCare, and WageGuard — which provide employer-sponsored employee benefit programs at group rates. The company accesses over 100 global insurers to arrange competitive coverage, with key offices in Sydney, Melbourne, Brisbane, Adelaide and Perth. Service differentiators include rapid online quotes (under 30 minutes for owner builder products), market-leading rates through broker negotiation, expert risk advice, and a dedicated claims team.

Differentiator

Problem solved

Functional benefit

Brands

• PayCover: Insurance product brand offered through Coverforce network
• Uplus
• WageCare
• WageGuard

Products and services

• Bathing Box Insurance
• Builders Warranty Insurance
• Business Package Insurance
• Cargo & Transit Insurance
• Commercial Hull Insurance
• Commercial Property Insurance
• Contractors Plant Insurance
• Contract Works Insurance
• Corporate Travel Insurance
• Cyber & Privacy Insurance
• Directors & Officers Insurance
• Group Income Protection
• HBCF Insurance
• Industrial Special Risks Insurance
• International Business Insurance
• IT Liability Insurance
• Latent Defects Insurance
• Management Liability Insurance
• Marine Liability Insurance
• Motor Fleet Insurance
• Owner Builder Insurance
• Principal Controlled Insurance
• Product Recall / Contaminated Product Insurance
• Professional Indemnity Insurance
• Promotional Insurance
• Protection & Indemnity Insurance
• Public Liability Insurance
• Strata Title Insurance
• Town Planners Insurance
• Trade Credit Insurance
• Workers Compensation Insurance
• Construction & Building Insurance Solution
• Hospitality Insurance Solution
• Information Technology Insurance Solution
• Manufacturing Insurance Solution
• Marina Operators Insurance Solution
• Marine Insurance Solution
• Medical & Dental Insurance Solution
• Mining & Resources Insurance Solution
• Not For Profit Insurance Solution
• Professional Services Insurance Solution
• Property Developers Insurance Solution
• Property Valuers Insurance Solution
• Real Estate Insurance Solution
• Small Business Insurance Solution
• Sport & Leisure Insurance Solution
• Transport & Logistics Insurance Solution
• Dry Cleaners Insurance Solution
• PayCover (Group Income Protection)
• UPlus (Group Income Protection)
• WageCare (Group Income Protection)
• WageGuard (Group Income Protection)

Quantifiable outcome

• 95% of online quotes returned in under 30 minutes
• +1 more outcomes

Named customers4 records

Segments11 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

26 partnerships are on record, tiered core and supporting.

• AIGcoreOthersGlobal insurer partner providing corporate travel, group personal accident, and commercial insurance products through Coverforce's broker network.
• AllianzcoreOthersMajor global insurer offering comprehensive insurance products distributed through Coverforce brokers.
• QBEcoreOthersLeading global insurer with fleet motor, commercial motor, and commercial insurance solutions available through Coverforce.
• ChubbcoreOthersGlobal insurance specialist providing business pack, fine art, leisure travel, marine, and strata insurance products.
• ZurichcoreOthersGlobal insurer partner offering personal and general insurance products through Coverforce's broker network.
• CGUcoreOthersAustralian insurer offering home building, commercial motor, fleet motor, and owner builder insurance products.
• VerocoreOthersAustralian insurer providing commercial motor fleet and other general insurance solutions.
• HollardcoreOthersInsurer partner offering commercial motor, home building, and landlords insurance products.
• LloydscoreOthersGlobal insurance market providing specialised insurance capacity through Coverforce brokers.
• Blue ZebrasupportingOthersAustralian insurer offering home building, landlord, motor, and business insurance products.
• GIOsupportingOthersAustralian insurer brand providing commercial insurance solutions.
• DualsupportingOthersSpecialist underwriting agency providing accident and health insurance products.
• LibertysupportingOthersSpecialty insurer offering commercial insurance products through Coverforce.
• NTIsupportingOthersSpecialist insurer providing transport pack, fleet motor, and marine insurance.
• MeconsupportingOthersInsurer offering single project and contractors plan insurance products, particularly for owner builders.
• LongitudesupportingOthersSpecialist insurer providing strata insurance products.
• MillersupportingOthersSpecialist insurance broker providing commercial insurance solutions.
• CHUsupportingOthersSpecialist strata insurer providing residential and commercial strata insurance.
• GT InsurancesupportingOthersInsurance agency providing various commercial insurance products.
• QuantasupportingOthersInsurance provider with products distributed through Coverforce.
• SUUsupportingOthersSpecialist strata insurer providing residential and commercial strata insurance.
• UAAsupportingOthersInsurance provider with products available through Coverforce.
• AIA AustraliacoreOthersInsurer providing group insurance products including WageGuard, WageCare, PayCover, and UPlus through Coverforce.
• ProRisksupportingOthersSpecialist underwriting agency providing various insurance products.
• BerkleysupportingOthersInsurance company providing commercial insurance solutions.
• IAL (Insurance Australia Group)supportingOthersInsurance provider offering various commercial and personal insurance products.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/coverforce
• Facebookfacebook.com/coverforce
• LinkedInlinkedin.com/company/coverforce

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coverforce