Annual automated insurance comparisons make renewal easy

Canadian company Covera provides insurance policy comparisons every year, so customers save time and get the best deal.

Canadian insurtech startup Covera takes the pain out of insurance renewals by providing customers with detailed analyses of potential alternatives. The company’s own research found that an average of 80 percent of insurance customers don’t comparison shop.

Covera is free to use, and to get started, insurance customers fill out a detailed online profile. After that, Covera takes care of monitoring renewal dates, researching other policy options and putting together an easy-to-understand comparison report. If a customer wants to switch policies, Covera does the work. And through its automation, the startup provides relevant updates each year, prior to the expiration date of the customer’s current policy.

How could the ideas and technologies of name-your-price services (like this one for hotel rooms) and adaptive insurance policies (such as those offered to owners of driverless cars) combine to help under-insured groups?