In today’s digital-driven financial sector, trust is paramount for maintaining customer loyalty. Insurtech companies like KoverNow are revolutionizing the industry, blending modern innovation with trusted customer relations. Stephan Kaiser, CEO of KoverNow, with his transition from a finance expert to an insurtech leader, is at the forefront of KoverNow’s efforts to establish a reliable platform. As digital finance and insurtech trends evolve, KoverNow and leaders like Kaiser are setting the benchmark for trust in the digital age.
KoverNow’s CEO: A Rich Financial Legacy
With two decades of experience in investment banking within the financial institutions industry, Stephan Kaiser gained valuable insights into the complexities of insurance innovation and the dynamics between capital and markets. Recognizing the convoluted nature of insurance processes and the need for more accessible solutions, he envisioned a simpler approach to insurance, ultimately leading to the creation of KoverNow. Reflecting on his career shift, Stephan shared with Insurance Asia, “I thought that was becoming an obvious pain point. So, when I thought I spent enough time in investment banking I thought it was time to do something else. That’s when I move to insurance.”
In 2019, KoverNow was founded in the UK by Stephan Kaiser and Robert Clara. Both brought different backgrounds with the goal of changing the insurance industry. Kaiser had knowledge in investment banking and insurance innovation, while Clara had over 20 years in technology marketing, including e-commerce and customer experience. They combined their skills to develop KoverNow. Seeing opportunities in the Asia Pacific, especially Singapore with its love for luxury items like Swiss watches, Stephan moved the company to Singapore, known for financial innovation. They believed there was growing demand in Asia for their new insurance approach. Together, they worked to make insurance simpler and user-friendly for customers.
Building Trust with Partnerships and Certifications
KoverNow has formed strong partnerships and earned certifications to show its commitment to quality and customer service. One key partnership is with QBE Singapore, which makes insurance transactions smoother. KoverNow is also a member of the Singapore Fintech Association (SFA), showing its dedication to fintech quality and following local rules. By using SingPass for customer ID and working with QBE Singapore for specific insurance products, KoverNow meets regulatory standards and ensures customer confidence. Its online platform, together with MAS-regulated providers, makes buying insurance easier. As a licensed agent with the General Insurance Association in Singapore and a member of the Singapore Business Federation, KoverNow shows it follows regulations and values trust. This positions KoverNow as a reliable name in the insurtech industry.
Vision for a Trustworthy Insurtech Future
KoverNow provides a suite of insurance products tailored for valuable personal items, offering global coverage for cameras, laptops, luxury watches, designer bags, and jewelry, emphasizing a seamless digital process for both purchasing and claims, all manageable through the app. Additionally, the travel insurance covers a range of trip-related risks, with options to insure valuables during travel. With competitive pricing and user-friendly features, KoverNow stands out as a go-to for insuring prized possessions.
With a forward-looking lens, Stephan Kaiser envisions a future where KoverNow continually evolves with market demands yet keeping trust and customer satisfaction as its core ethos. The goal is to build a platform where customers feel secure and well-informed.
KoverNow is headquartered in Singapore. The company’s digitally enabled insurance platform dramatically improves the customer journey for purchasing and managing several types of personal insurance by streamlining processes and speeding up renewals, approvals, and claims. In Singapore, KoverNow is a licensed agent registered with General Insurance Association. It is partnering with MAS-regulated insurance carriers that are underwriting its products, and with SingPass to securely capture customer-specific data. KoverNow is also part of Singapore Fintech Association and Singapore Business Federation.