Covered
Covered Insurance Services Limited is a UK-based, FCA-regulated insurance agency and platform provider that pioneered Pay-As-You-Go cover for commercial drone operators, general aviation pilots, and learner drivers via a proprietary 24/7 digital platform with B2B white-label licensing.
- Company typePrivate
- Founded2014
- HeadquartersGrays, United Kingdom
- Headcount—
- GTM typeB2C
- OfferingServices
What Covered does
Covered Insurance Services Limited is a UK-based, FCA-regulated insurance agency and platform provider founded in 2014 that pioneered Pay-As-You-Go (PAYG) insurance products across three niche verticals: commercial drone, general aviation, and learner driver. The company operates a proprietary in-house digital platform enabling customers to obtain quotes in approximately three minutes, activate coverage in five minutes, and manage policies 24/7 from any device. The platform incorporates a distinctive insurance credit system that allows customers to pre-purchase insured days, cancel booked days for credit, roll over up to seven unused days at renewal, and benefit from a price-cap guarantee that limits PAYG total spend to no more than the equivalent annual premium. As of December 2023 the platform had administered more than 150,000 policies, processed over 200,000 on-demand transactions, and delivered over 10 million hours of on-demand cover to 55,000+ customers.
The product portfolio spans Commercial Drone Insurance and General Aviation Insurance under the FlyCovered brand, multiple Learner Driver brands (Covered On-Demand, Covered Learner, Covered Owner, National Learner Driver Insurance), and a set of partner-distributed general insurance lines (Travel, Household, Commercial Property, Motorhome, Classic Car, Commercial) underwritten through Lloyd's of London and leading insurers. Underwriting capacity is supplied through partnerships with Tokio Marine Kiln (aviation) and KGM Underwriting Services, with EC785/2004-compliant drone policies issued through A-rated aviation capacity providers.
Revenue is generated via three streams: usage-based PAYG premiums, traditional annual premiums, and B2B platform licensing to brokers and insurers seeking differentiated on-demand products. Distribution combines a direct-to-consumer self-serve model across owned websites (CoveredInsurance.com, FlyCovered.com, CoveredLearner.com) with a white-label B2B channel that has been adopted by a leading insurer to deliver worldwide commercial drone cover through its coverholder network, plus embedded partnerships such as DroneDesk. The company remains privately held and founder/management owned, with Paul Brown as Founder and Managing Director and no disclosed external institutional investment.
Covered firmographics
Firmographics- Name
- Covered
- Legal name
- Covered Insurance Services Limited
- Website
- https://coveredinsurance.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Short description
- Covered Insurance Services Limited is a UK-based, FCA-regulated insurance agency and platform provider that pioneered Pay-As-You-Go cover for commercial drone operators, general aviation pilots, and learner drivers via a proprietary 24/7 digital platform with B2B white-label licensing.
- Ownership category
- akta.pro rank
Covered industry classification
Industry- Product category
- Specialty Insurance (On-Demand / Pay-As-You-Go Insurance)
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Full-Coverage Personal Auto Insurance (FSAJAAAF)
- akta.pro secondary industry
- Standard Personal Auto Insurance (Liability, Collision & Comprehensive) (FSAJAAAA)
Keywords
Where Covered is headquartered
LocationHeadquarters
- HQ city
- Grays
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Covered business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Insurance Premiums - Pay As You Go: Usage-based model where customers purchase policies with insured days that can be drawn down as needed. Additional days purchased at fixed daily rates. Covers aviation, drone, and learner driver insurance.
- Insurance Premiums - Annual Policies: Traditional annual coverage policies with optional add-ons and extensions. Offered for drone operators, aircraft owners, and learner drivers requiring regular coverage.
- Broker/Partner Platform Licensing: B2B platform licensing to brokers and insurers who want to differentiate by offering on-demand insurance products. Platform adopted by a leading insurer to deliver Commercial Drone Insurance worldwide.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Pay As You Fly Drone Insurance - entry level |
| Usage-based | Pay-as-you-go | Pay As You Fly Aviation Insurance |
| Usage-based | Pay-as-you-go | Learner Driver Pay As You Go |
| Usage-based | Pay-as-you-go | Learner Driver Everyday Short-Term |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Covered product offering
Product offeringCore offering
Covered Insurance is a UK-based insurance agency that designs, underwrites, and distributes Pay-As-You-Go (PAYG) and annual insurance products across three core verticals: learner driver, general aviation, and commercial drone insurance, all powered by a proprietary in-house digital platform. Customers can obtain quotes in minutes, purchase coverage 24/7, and manage policies online with flexible day-based pricing, credit rollover, and instant documentation.
Product overview
Covered Insurance is an insurance solutions provider operating a multi-brand portfolio accessible through a proprietary in-house digital platform. The core offering consists of three main insurance verticals: Commercial Drone Insurance (via FlyCovered brand), General Aviation Insurance (via FlyCovered brand), and Learner Driver Insurance (via Covered On-Demand, Covered Learner, and Covered Owner brands). These products share a common technology platform that enables on-demand, pay-as-you-go coverage options alongside traditional annual policies. Partner products including Travel, Household, Commercial Property, Motorhome, Classic Car, and Commercial Insurance are offered through selected partners and underwritten through Lloyd's of London and leading insurers.
Differentiator
Problem solved
Functional benefit
Products and services
- FlyCovered Commercial Drone Insurance
- FlyCovered General Aviation Insurance
- Covered On-Demand Learner Driver Insurance
- Covered Learner Short-Term Learner Driver Insurance
Quantifiable outcome
- Over 150,000 policies delivered with zero complaints regarding system delivery or product
- +2 more outcomes
Companies that use Covered
Customer profileSegments5 records
Ideal customer profiles4 records
Covered technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Covered partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- BlendminorCo-hosting webinar with Blend on February 26, 2026 to educate bank, credit union, and mortgage lender executives on strategies to help borrowers find affordable insurance coverage amid rising premiums. Partnership focused on the intersection of mortgage lending and insurance needs.
- Tokio Marine KilncorePrimary aviation insurer partner. Tokio Marine Kiln is a leading international insurer with strong security rating of A+. Worked with Covered to develop the first Pay As You Go General Aviation policy. Underwriters empowered to assess individual risks and provide on-the-spot decisions.
- KGM Underwriting ServicescoreSophisticated wholesaling intermediary in UK offering market leading products, competitive pricing, and outstanding claims service. Capacity providers are all A rated. Provides flexible underwriting approach working closely with brokers.
- DroneDeskminorPartnership delivering exceptional value insurance and efficient operations planning to commercial drone operators. DroneDesk users receive discounts of up to 20% on FlyCovered insurance. FlyCovered customers get 20% off DroneDesk Pro plan. Risk planning and mitigation capabilities provide assurance to underwriters.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Covered competitors and assessment
Company assessmentDirect peers
- DroneInsurance.com: US-based drone insurance provider offering on-demand drone liability and hull coverage. Direct competitor in commercial drone insurance, with similar on-demand model and target customer of commercial drone operators in a comparable regulatory framework.
- Dayinsure: UK-based short-term car insurance specialist offering temporary policies for learner drivers and other drivers. Direct competitor to Covered's learner driver insurance product line, with similar product positioning, UK market focus, and short-term coverage model.
- Cuvva: UK-based on-demand car insurance app offering flexible, pay-as-you-drive coverage. Direct competitor to Covered's usage-based insurance model, with similar mobile-first, on-demand approach to personal auto insurance targeting occasional drivers.
- Tempcover: UK temporary and short-term car insurance provider covering learner drivers, driving lessons, and temporary cover. Direct competitor to Covered's learner driver products, with similar value proposition of flexible short-term policies targeting the same customer segment.
- SkyWatch.AI: Drone insurance technology company offering on-demand, usage-based drone insurance with AI risk assessment. Direct competitor to Covered's FlyCovered commercial drone insurance product, with similar PAYG/usage-based positioning and commercial drone operator target market.
- Marmalade: UK specialist insurer focused on learner and new drivers, offering black-box telematics and short-term policies. Direct competitor to Covered's learner driver products with similar customer segment focus and pricing model specialization.
Emerging players
- Laka: UK collective cycling insurance and emerging mobility insurance platform. Compares to Covered as another UK insurtech pioneering usage-based and collective insurance models, though focused on cycling and emerging mobility rather than aviation or learner driver verticals.
- By Miles: UK pay-by-mile car insurance startup using telematics-based pricing. Shares Covered's usage-based insurance philosophy and UK market focus, but operates in the standard personal auto segment rather than learner drivers or specialty lines, making it an emerging adjacent competitor.
Broad incumbents
- Zego: UK insurtech offering usage-based commercial vehicle and gig economy insurance. While not a direct competitor in Covered's specific niches, Zego represents a similar on-demand insurance technology model with broader commercial vehicle focus and significantly more capital raised, making it a relevant broad incumbent in the UK usage-based insurance space.
- Howden: Major UK insurance broker with broad commercial and specialty lines, including aviation. Represents a much larger, established broker that competes with Covered in commercial drone and aviation insurance distribution, with substantially greater resources and market reach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Covered social profiles
Digital presenceCovered compliance and trust
Trust signalCompliance3 records
Covered financial estimates
Financial estimateRevenue estimate
Valuation estimate
Covered leadership team
Management profileNumber of profiles
Profiles2 records
Covered funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Covered 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 Covered
What does Covered do?
Covered Insurance is a UK-based insurance agency that designs, underwrites, and distributes Pay-As-You-Go (PAYG) and annual insurance products across three core verticals: learner driver, general aviation, and commercial drone insurance, all powered by a proprietary in-house digital platform. Customers can obtain quotes in minutes, purchase coverage 24/7, and manage policies online with flexible day-based pricing, credit rollover, and instant documentation.
Is Covered a public or private company?
Covered is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Covered founded?
Covered was founded in 2014.
Where is Covered based?
Covered is headquartered in Grays, United Kingdom, in the Europe region.
How does Covered make money?
Three revenue lines are on record. Insurance Premiums - Pay As You Go is the primary driver. The others are insurance Premiums - Annual Policies and broker/Partner Platform Licensing.
Who are Covered's main competitors?
Direct peers on record are DroneInsurance.com, Dayinsure, Cuvva, Tempcover, SkyWatch.AI and Marmalade. Emerging players are Laka and By Miles. Broad incumbents are Zego and Howden.
Does Covered have an API?
No public API is recorded for Covered.
What industry is Covered in?
Covered's product category is Specialty Insurance (On-Demand / Pay-As-You-Go Insurance). Its primary akta.pro industry code is FSAJAAAF, Full-Coverage Personal Auto Insurance, with a secondary code of FSAJAAAA, Standard Personal Auto Insurance (Liability, Collision & Comprehensive). Its NAICS code is 5242 and its SIC code is 6411.