CoverGo Raises $15 Million Series A to Expand Global Adoption of the Leading No-code Insurance Platform

CoverGo’s Series A highlights the company’s rapid growth and success, with annual recurring software revenue increasing more than 10x since January 2021.

NEW YORK and SINGAPORE, May 11, 2022 /PRNewswire/ — CoverGo, the leading global enterprise no-code SAAS insurance platform, today announced it has secured $15 million in Series A funding led by California-based SemperVirens VC with participation from US venture capital firms SixThirty, Tribeca Early Stage Partners and Fresco Capital. Strategic investors include pan-African insurance group Old Mutual, Asia-based insurance group Asia Financial Holdings, US-based XN Worldwide Insurance (part of the Henner Group) and Middle East and African insurance fund Noria Capital. Existing insurtech investors also participated in the oversubscribed round.

Caribou Honig, general partner of SemperVirens, also known as the Godfather of Insurtech and founder of the world’s largest insurtech conference InsureTech Connect, will also be taking a board observer seat as part of the investment.

A growing number of P&C, health and life insurance companies and emerging insurtech companies have adopted CoverGo’s platform to build and launch all types of insurance products within days, develop omni-channel distribution, streamline policy admin and automate claims processes. As a result, CoverGo’s annual recurring revenue grew more than 10x since January 2021.

CoverGo is already working with major insurance companies such as AXA, MSIG (MS&AD Insurance Group), Dai-ichi Life and Bank of China Group Insurance, and delivery partners such as Deloitte, Accenture, IBM and Synpulse in Asia, US, Canada, Latin America, Middle East and other markets across the globe. The new investment will help accelerate CoverGo’s international expansion, develop its partner network with consulting companies and grow the sales and engineering teams in the US and Asia-Pacific to meet the increasing demand for the CoverGo platform.

“There are only a handful of technologies that are significantly transforming the insurance industry, and no-code is clearly on the short list,” said Caribou Honig.  “As carriers lean into enabling innovation, CoverGo is uniquely positioned to accelerate their digital transformation and drive efficiencies across the insurance value chain. CoverGo’s next-generation platform is providing carriers an unbeatable mix of speed to market, cost savings, and security to succeed both now and in the future. We are excited to support CoverGo on its growth journey and expansion in the US market.”

“Insurance companies realize now more than ever that custom IT development is too slow and costly while off-the-shelf software packages can’t satisfy changing product requirements and customer needs. This is why we see fast growing demand worldwide for a truly configurable no-code platform allowing companies to be agile and stay relevant in the changing world,” said Tomas Holub, CEO and Founder of CoverGo. “The new funding and unique mix of strategic insurance investors will help accelerate adoption of CoverGo by insurance companies globally.”

Learn more about why insurance companies are choosing CoverGo at covergo.com.

About CoverGo

CoverGo has developed the insurance industry’s first out-of-the-box, modular, no-code insurance platform powered by over 500 open insurance APIs enabling insurance companies to transform digitally in the most flexible, scalable and cost-effective way. P&C, health and life insurance companies use CoverGo to build and launch all types of insurance products within days, develop omni-channel distribution, streamline policy admin and automate claims processes. To learn more, visit https://covergo.com.

About SemperVirens VC

SemperVirens is a leading US-based ecosystem-driven investment firm focused on companies in the workforce, healthcare, and financial technology markets. The firm has a network of executives, industry analysts, and distribution partners that serve as a proprietary platform for accessing, analyzing, and amplifying the most promising companies in its target sectors.

Media Contact

Julien Hauss
Email: hello@covergo.com

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Turkey’s latest attack on the arts: A provincial governor cancels a long-awaited music festival

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Global Voices

Eskişehir Municipality. Photo by Seyfi Şeren licensed under CC BY-SA 2.0, via Wikimedia Commons Just three days ahead of Anadolu Fest a large music festival that was to be held in Turkey’s Eskişehir province, the local governor office announced that all events, including sit-ins, concerts, festivals, and demonstrations will be canceled from May 10–25 in order to “ensure public order and public security, prevent crime, protect others’ rights and freedoms and prevent the spread of violence.” While the statement did not specifically mention the upcoming music festival, the event falls under the c… Continue reading “Turkey’s latest attack on the arts: A provincial governor cancels a long-awaited music festival”

German painter has created art inspired by Cappadocia’s beauty for 32 years

Amazed by the historical, cultural and natural beauty of Cappadocia, German painter Almut Wegner has created artwork in Cappadocia for 32 years.

Having received an education in painting and theater directing, Wegner began traveling to various countries and decided to settle in Cappadocia, where she came upon her aunt’s recommendation in 1990.

She rented an old stone detached house in the town of Uchisar in Nevsehir province and renovated it. Turning the house into studio, she occasionally hosts her friends from Germany there.

“Many different (types of) beauty exist in Cappadocia…You have to be a poet to describe the beauty of this place. I depict the beauty of Cappadocia by drawing,” said Wegner, speaking to Anadolu Agency.

Cappadocia’s aura and beauty are not found elsewhere in the world, she said.

“I travel a lot among the ‘fairy chimneys.’ Every day, I find a mysterious new place. Sometimes my friends from Germany visit. I host them. They are also very impressed…The scenery and the story of this place are strong.”

Wegner said she gets inspired by the riches that nature bestowed on Cappadocia while she is creating her artwork.

“I draw pictures of trees, because trees are very important to the world. In addition to brushes in different sizes, I sometimes use a piece of cloth and sometimes a clothes brush,” she added.

Making various masks from waste materials as well as painting, Wegner also began preparations to stage a one-man theater play for tourists who come to the region during the summer months.

Recalling her aunt’s words on Cappadocia, Wenger said: “I have traveled all over the world and the most beautiful place is Cappadocia.”

“I wondered about Cappadocia and came here as a tourist. After staying for three weeks, I decided to settle here,” she added.

Source: Anadolu Agency

Turkiye ‘neutralizes’ 10 more YPG/PKK terrorists in northern Syria

Turkiye said on Wednesday that its forces “neutralized” 10 more YPG/PKK terrorists in northern Syria.

The terrorists were targeted as they were plotting to attack the areas of Operation Euphrates Shield and Operation Olive Branch, the National Defense Ministry said on Twitter.

Turkish authorities use the term “neutralize” to imply the terrorists in question surrendered or were killed or captured.

Since 2016, Ankara has launched a trio of successful anti-terror operations across its border in northern Syria to prevent the formation of a terror corridor and enable the peaceful settlement of residents: Euphrates Shield (2016), Olive Branch (2018), and Peace Spring (2019).

In its more than 35-year terror campaign against Turkiye, the PKK – listed as a terrorist organization by Turkiye, the US and the EU – has been responsible for the deaths of over 40,000 people, including women, children and infants. The YPG is the PKK’s Syrian offshoot.

Source: Anadolu Agency

1st Turkiye-Pakistan security dialogue begins in Istanbul

A group of scholars and practitioners from Turkiye and Pakistan deliberated on regional security issues Tuesday in the Turkish metropolis of Istanbul.

In what is described as the first Turkiye-Pakistan security dialogue, Professor Rabia Akhtar from the University of Lahore said the participants discussed how the regional security architecture shaped the foreign policies of the two countries.

“This is the first such opportunity to listen firsthand from scholars of the two countries, to share our views candidly, which was intellectually a very, very engaging exercise,” said Akhtar, who is director of the Center for Security, Strategy and Policy Research at the university.

Pakistani journalist Ejaz Haider said it is important for Turkiye and Pakistan to have strategic dialogue “because there are a number of issues which are common to Pakistan and Turkiye.”

“For instance, take the example of Syria, and you can have a comparison with what Pakistan has gone through in Afghanistan,” he said, adding Turkiye and Pakistan’s relationships with the US was another issue.

“It is important to listen to Turkish scholars and share our findings as how we look at the regional security issues as far as Pakistan is concerned,” he added.

The dialogue between Turkish and Pakistani scholars and practitioners will continue with different institutions in Istanbul until Friday, said Akhtar.

Turkiye is a ‘second generation middle-power country’

Hizir Tarik Oguzlu, a political science teacher at Istanbul Aydin University, said Turkiye has pursued a “much more dimensional foreign policy” since early 2000.

By strengthening its relations with Russia, he said, Turkiye enjoyed “strategic autonomy,” but Turkiye never said “goodbye to West. It is a member of NATO, is trying to become part of the EU and has more than half of its trade with this European bloc.”

He described Turkiye as a “second generation middle-power country unlike traditional middle powers.”

“Now, in the Western world-led international liberal order, sensitivities of non-Western countries are being taken into consideration more frequently,” he said.

Zafar Nawaz Jaspal, professor of politics and international relations at Quaid-e-Azam University in Pakistan, said the South Asian region “did not enjoy the end of the Cold War…We remained in that tension.”

He said there were four different eras of containment, including the US’ “Pivot Asia” policy to contain China; the Quad, which Beijing calls the Asian version of NATO; the containment of Russia, which hit back in 2008, 2014 and now in 2022; and the containment of Qatar in 2017.

“India tried to contain and isolate Pakistan, but it failed,” he said, adding the region is witnessing an “arms race.”

Besides the strategic competition between Pakistan and India, he said there are positive trends happening through regional connectivity initiatives, including the Economic Cooperation Organization, the Shanghai Cooperation Organization, China’s Belt and Road Initiative, and its flagship program the China-Pakistan Economic Corridor.

On whether Turkiye and Pakistan can cooperate in nuclear tech, the Pakistani academic said that Ankara cannot do so “because it is part of the Non-Proliferation Treaty and it can benefit from the Nuclear Suppliers Group.”

He lauded Turkiye for its know-how of the “handling of nuclear weapons,” calling it “important.”

“Turkiye was part of solving the Cuban missile crisis issue in the 1960s,” he recalled.

He said Turkiye was facing sub-conventional challenges “not military, neither nuclear.”

‘Pakistan can benefit from Turkish economic model’

Syed Hussain Shaheed Suhrawardy, an international relations professor from Peshawar, reflected on India’s “territorial expansionism” and resolution of the Kashmir dispute.

He said the South Asia Association for Regional Cooperation was “hostage to India,” which has resulted in low trade among the South Asian nations.

On Turkiye-Pakistan relations, he lauded the Turkish economic model as “wonderful,” adding “Pakistan can benefit from it.”

“The two countries can trade in their own currencies,” he suggested.

Calling for an end to double standards, he said: “whatever happens in Afghanistan never stays in Afghanistan…It always has a spillover effect.”

Ejaz Haider, a Pakistani commentator and journalist, said Pakistan “needed political stability and economic progress,” which will allow it to deal with hard as well as non-traditional security issues.

Professor Ahmet Kasim Han from Aydin University pointed out the importance of “logistics” to boost Turkiye-Pakistan relations.

Farhan Siddiqui, a Pakistani academic from Quaid-e-Azam University, noted trade, refugee issues, ethnic conflicts, social and national cohesion and national security as common issues between the two countries besides “democracy and democratization and making bridges with the rest of the world.”

Source: Anadolu Agency

Istanbul hosts nearly 3 mln tourists in three months

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Azer News

By Trend Istanbul has seen an influx of both local and international visitors in the first three months of 2022, with foreign tourist arrivals in the city rising 136 percent from a year ago, Trend reports citing Hurriyet Daily News. From January to March this year, 2.9 million international holidaymakers visited the city, up from 1.2 million people in the same period of 2021, according to data from the provincial directorate of culture and tourism. Amid the influx of tourists, the occupancy rate in the hotels in the metropolis reached 80 to 90 percent, people from the industry said. In March a… Continue reading “Istanbul hosts nearly 3 mln tourists in three months”

Uyghurs in Turkey urge UN rights chief to probe China ‘re-education camps’

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Al-Araby

Turkey’s Uyghur Muslims on Tuesday urged the UN human rights chief to independently investigate the so-called “re-education camps” and allegations of rights abuses, torture and even genocide when she visits China’s Xinjiang province this month. Turkey’s 50,000-strong Uyghur community have staged daily protests outside the Chinese consulate in Istanbul over the past few years, holding pictures of their relatives and family members with whom they lost touch for months, and even years. In March, UN human rights chief Michelle Bachelet said she would pay a visit to China, including Xinjiang, in Ma… Continue reading “Uyghurs in Turkey urge UN rights chief to probe China ‘re-education camps’”