Traditional insurance won’t work for you until you pay a premium. KoverNow changes this by working for you from the moment you download our KoverNow App. You can enjoy a free level of services and if you choose to take out cover with us everything is organised in an easy, transparent and mobile way, so you can manage your insurance needs wherever you are.

KoverNow’s Vault services are available wherever the app is accessible via the Apple App or Google Play stores. At the moment we can only insure your item if you are a resident of Singapore and able to identify with Singpass (https://www.singpass.gov.sg/main). We are working with our underwriters to bring KoverNow’s insurance to additional jurisdictions soon.

Insurance companies – like banks – and other financial intermediaries are at the risk of being used for Money Laundering and Terror Financing. The Monetary Authority of Singapore (MAS) therefore requires banks and insurance companies to implement specific procedures to prevent those criminal activities (https://www.mas.gov.sg/-/media/MAS/resource/legislation_guidelines/insurance/guidelines/130519-Guidelines-on-Prevention-of-ML-and-Countering-TF.pdf). KoverNow’s underwriting partners are regulated by the MAS and subject to those rules. In order to satisfy regulatory- and record keeping requirements we must identify you before you can take out insurance. In order to make this as convenient as possible we use the particularly safe e-KYC (Know Your Customer) technology provided through GovTech and endorsed by the MAS (https://www.mas.gov.sg/development/fintech/technologies—digital-id-and-e-kyc).

You will only be able to insure items that have been added to the Vault and which you can prove ownership of. The KoverNow universe is constanly growing with more items becoming available all the time. At the moment we can insure your watch, laptop, handbag, jewellery and camera.

Take a picture of the item in the KoverNow App. Add some details such as a receipt, the make & model and its current value – then add the item to your personal Vault. Your monthly premium for the item will be calculated instantly. Happy with the premium? Then activate cover by just selecting the ‘insured’ option (you can deactivate cover at any time).

The Total Insured Value of all your items and your Total Monthly Premium are always clearly visible. Link your favourite payment card and KoverNow can remind you to insure anything you’ve bought of value.

Because we want you to have just the right level of protection at all times – neither over or under-insured – we provide monthly premiums that automatically adjust as the value of your items change. You can add new items at any time. Want to stop insuring an item? Simply switch it off and the cover will end by your next billing period (up to a maximum of one month).

Just open the KoverNow App and go to the item you need to claim for. Then enter some details on how, when and where your item was damaged, lost or stolen. You are insured to the value reflected in your Vault – no questions asked. Around 90% of our claims are paid within three business days.

Founded in 2019, KoverNow is headquartered in Singapore. Its founders and leadership team come from diverse backgrounds in financial services, software and technology. We all share a vision to create mobile app-based insurance service that better serves the needs of customers.

KoverNow is partnering with MAS-regulated insurance carriers that are underwriting our products. Each underwriting partner is licensed in Singapore and will be a member of either the General Insurance Association, the Life Insurance Association of Singapore, or both.

Depending on the product specifications KoverNow works with various companies. No matter who underwrites your risk, you will be able to manage the entire relationship via our App.

KoverNow is certified by the Singapore FinTech Association (SFA).

KoverNow uses your data and personal information to curate the best possible level of service for you. That’s it. In order to offer you a policy, we legally require certain personal data. Everything beyond that is controlled solely by you.

We are PDPA compliant.

We calculate your premium for the next 30 days and charge you the corresponding amount. You will find the invoice immediately under Billing (KoverNow app menu).

Currently we accept Apple and Google Pay and will be adding more payment options soon. If you continue protecting your item you will be automatically invoiced again after 30 days, resetting your premium to the current value of your item.