PR92283

HONG KONG, Oct. 15, 2021 /PRNewswire=KYODO JBN/ --

CoverGo(https://www.covergo.com/), Asia's no-code insurance technology leader,

is expanding to the USA, Canada, and Latin America to help insurance companies

digitize to remain agile and relevant in this high-tech era.    

CoverGo offers a no-code platform for insurance firms to streamline their

ecosystem from building products to managing claims. Since January 2021, the

company's subscription revenue has risen by over 400%.

To accelerate its international expansion, CoverGo has appointed

DP88(https://www.dp88.org/) as its strategic advisor. The partnership has

helped CoverGo secure initial funding for expansion, market insights and

relationships with key partners and investors for the upcoming equity

fundraising round.

CoverGo's expansion comes amid the digitization of the US$6.3 trillion

insurance market.  No-code / low-code is expected to be responsible for more

than 65% of application development activity(

https://www.gartner.com/en/documents/3956079/magic-quadrant-for-enterprise-low-code-application-platf)

in the sector by 2024 . CoverGo therefore is in a perfect position to tackle

this market, and help companies adapt to the changing environment.

Cesar Moufarrege, CEO of XN Worldwide Insurance (CoverGo's Enterprise Customer

in the USA):

"CoverGo's technology and platform is something we have been looking for to

advance our digital transformation goals and increase customer satisfaction by

step-changing speed to market and service. This no-code API driven platform is

a perfect fit into our infrastructure as it provides us flexibility and agility

to push out new APIs without the traditional model of heavy reliance on tech

vendor support and constant back-and-forth communication between different

teams."

Tomas Holub, CEO of CoverGo:

"Insurance companies realise now more than ever that custom IT development is

slow and costly while off-the-shelf software packages can't satisfy the

flexibility they require. This is why we see fast growing demand worldwide for

a truly configurable no-code platform. The strategic partnership with DP88 and

upcoming investment will help roll out CoverGo to insurance companies globally."

David Piesse, CEO of DP88:

"We were very impressed with the interoperability capability of CoverGo

technology for the insurance industry, which has many legacy systems to

integrate to new digitized platforms. Their technology is reducing time to

integrate and bring new products and innovations to market by a significant

amount."

About CoverGo

CoverGo is the first fully configurable, modular, no-code, enterprise-grade

platform for insurance. It enables companies to build products at record speed,

automate policy admin, claims and processes, and improve omni-channel

distribution. Powered by 500+ insurance APIs, the platform can be used in parts

or in full, and deployed across any cloud. CoverGo has 30+ P&C, health and life

insurance clients across 3 continents.

About DP88

DP88 are an advisory as part of an Asian family office who have been founding

LP and/or investor in prestigious tech funds such as Greycroft Ventures and

Growth Funds, Primetime Partners, Anthemis Insurtech, EGP Partners, Pantera

Capital, GP BUllhound Fund as well as several early stage tech startups who

turned to be unicorn and listed on Nasdaq and Hong Kong stock exchange.

Contact:

Karen Wu

Media & PR Coordinator

DP88 Limited

Phone: +852 2827 1162

Email: karenwu@dp88.com.hk

Julien Hauss

Regional Sales & Marketing Manager

CoverGo Limited

Phone: +852 2111 9159

Email: julien@covergo.com

SOURCE: CoverGo