As we step into the new year, the team at CoverGo is looking back with pride at the outstanding achievements and milestones that shaped our journey in 2023.
If we could pick a few words that describe CoverGo in 2023, it might go something like this:
Growth
CoverGo has demonstrated an impressive accomplishment by achieving a remarkable fivefold increase in annual recurring revenue since our series A funding round in early 2022.
This substantial growth is complemented by a significant 40% reduction in net burn, reflecting our commitment to financial sustainability and efficiency.
Collaboration
CoverGo has effectively expanded its network by onboarding new insurance companies and strategic partners. This growth has been further amplified through the enhancement of collaborations with esteemed clients, including industry giants such as AXA, Bupa, and various other prominent organizations.
This dynamic approach to fostering relationships positions CoverGo as a key player in the insurance industry, continually strengthening its presence and influence.
Expansion
In a strategic expansion initiative, CoverGo has successfully broadened its market reach to include the dynamic landscape of the Middle East. This endeavor has proven highly fruitful, as we proudly announce the successful onboarding of two of the top 10 health insurers in Saudi Arabia.
This achievement not only signifies our global growth but also establishes CoverGo as a trusted and impactful player in the insurance sector within the Middle East region.
Patented
CoverGo has achieved a significant milestone by securing a patent for our groundbreaking drag-and-drop product builder. This innovative technology marks a transformative leap in the insurance industry, reshaping the traditional approach to building and launching insurance products
With this proprietary solution, CoverGo not only sets itself apart as an industry pioneer but also establishes a new standard for efficiency and creativity in the development and introduction of insurance offerings.
Recruiting
CoverGo has experienced substantial growth by extending a warm welcome to 40 highly skilled individuals who have joined our diverse team of insurtech and technology experts. This influx of talent represents a rich tapestry of over 30 nationalities, fostering a dynamic and inclusive work environment.
As we continue to attract top-tier professionals from around the globe, CoverGo remains committed to building a collaborative and innovative team that reflects the global nature of the industries we serve.
Noteworthy
CoverGo has earned prestigious recognition as the Technology Standout in Celent’s Global Health PAS (Policy Administration System) Report. This accolade underscores our commitment to excellence and innovation in the insurance technology landscape.
By being acknowledged as a standout performer in this renowned industry report, CoverGo solidifies its position as a leading force in advancing technology solutions within the global health policy administration sector.
This achievement reflects our dedication to providing cutting-edge solutions that stand out in terms of efficiency, reliability, and technological prowess.
Certified
Another major milestone for the company, CoverGo attained its ISO 27001 certification which is a testament to our unwavering commitment to the highest standards of information security for us and clients.
This certification highlights our proactive approach to safeguarding sensitive data and underscores our dedication to implementing robust information security management systems.
With our ISO27001 certification in place, CoverGo assures its clients, partners, and stakeholders of the stringent measures taken to protect confidential information, reinforcing our reputation as a trustworthy and secure player in the technology and insurtech sectors.
Gracious
As we celebrate these accomplishments, we express our gratitude to our dedicated team, valued clients, and esteemed partners who all have played a crucial role in propelling CoverGo to its position as the leading global no-code insurance platform. We look forward to continued collaboration in 2024. The best is yet to come!
Thank you for your support and Happy New Year!