Financial Services - New York, New York, United States
Covary is coverage plans placed on top of a crowdfunding platform structure. In essence, Covary is a webapp which coordinates the coverage between group members, runs the risk assessment (using data and AI) and makes every effort to meet members' needs. Covary is based on a sharing economy model (Cover your needs, pay only when needed) that is client centered, cost effective and transparent.The traditional income protection products we use today were created in the 1840's. They're costly, biased for insurance companies, confusing and not reliable. 91.8% of US freelancers lack insurance protection coverage; 79% of them are unwilling to pay for traditional insurance; and 76% are willing to pay for a co-operative alternative income protection product. Yet this $36B market's need remains unanswered as the number of freelancers continues to grow.Covary is designed for freelancers. Using 3-clicks onboarding, it introduces a premium free coverage model that is transparent and thus provides the member the option to know what requests they paid for. Covary only makes a profit when members are compensated and so this model enhances compensation and is very client satisfaction focused.
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