
iCover offers a digital solution for life insurance sales and underwriting, aiming to complete the process in just 5 minutes at a reduced cost. Their platform features an intelligent e-App powered by proprietary AI/algorithmic underwriting, offering features like QUI™ capture for disclosures and integration with various data sources. The Underwriting Workbench is a SaaS solution that streamlines the underwriting process, enhanced by Generative AI (Spark). They emphasize an agile, low/no-code onboarding and a focus on customer experience, enabling insurers to serve the middle market efficiently.

iCover offers a digital solution for life insurance sales and underwriting, aiming to complete the process in just 5 minutes at a reduced cost. Their platform features an intelligent e-App powered by proprietary AI/algorithmic underwriting, offering features like QUI™ capture for disclosures and integration with various data sources. The Underwriting Workbench is a SaaS solution that streamlines the underwriting process, enhanced by Generative AI (Spark). They emphasize an agile, low/no-code onboarding and a focus on customer experience, enabling insurers to serve the middle market efficiently.
What they do: AI/algorithmic underwriting platform and intelligent e-application for life and annuity sales
Speed claim: Platform aims to deliver underwriting/issuance decisions in ~5 minutes
Headcount: 53 employees (reported)
Funding: Seed-stage funding; reported total funding $5,000,000 (USD); last round Aug 31, 2022
Location: Chesterfield, Missouri
Life insurance sales and underwriting — reducing time and cost to issue policies and improving digital consumer experience.
Insurtech
Seed round reported Aug 31, 2022; Crunchbase lists Kesan Parasuraman as lead investor.
“Kesan Parasuraman listed as advisor/investor and lead investor for reported seed round”