Coverfox to launch specialised products, services for users

CEO Varun Dua says online portal will also launch a full bouquet of life insurance products

Online insurance broking firm Coverfox is planning to offer specialised products and services to customers who buy from the portal.

Varun Dua, CEO, Coverfox said they will also launch a full bouquet of life insurance products on the portal which customers can buy at the click of a button. "We will begin selling life insurance in the next quarter and will stick to protection plans," he added.

Travel, health and motor insurance (car and two wheeler) is being currently offered by Coverfox. Dua said that they would continue to cater to retail customers.

In terms of specialisation, not only would customers get assistance from Coverfox during claims filing, Dua said that need-specific policies can also be given for parents or individuals. Further, they are also exploring tie-ups with portals wherein customers of those can get insurance at time of sale.

Dua said that they sell 95 per cent of retail policies and because of being insurance brokers are also able to offer advisory services and we also offer recommendations based on the budget of the customer. He said that they have also built a claims unit to help them deal with claims and offer end-to-end service.

"We are also working with insurers to give more underwriting information. This includes giving more information about customers and getting more information from their lives, which would also enable them to offer more appropriate products," said Dua.

The insurance broker said that they are also involved in de-jargonising insurance with their marketing team. Also, January-end, Coverfox is also launching their Android application.