CoSure offers a digital platform for online risk transfer, connecting markets and systems to streamline insurance processes. Their solution digitizes end-to-end workflows, from transfer and reconciliation to claims, with core system integrations.
Funding
Funding not disclosed
Founders
Product
Problem
The insurance industry faces challenges in efficiently transferring risks due to manual processes, time-consuming quotation processes, and difficulties in tracking and reconciling data across local and global markets. Managing risk transfer manually is inefficient and can lead to errors and increased operational burden.
Solution
CoSure provides a digital risk transfer platform designed to streamline and automate reinsurance processes, connecting insurance companies, reinsurance companies, and brokers. The platform facilitates risk placement by enabling users to find risk takers, compare quotation conditions, and cede risks online, connecting them to a global marketplace. CoSure digitizes documents, automates data extraction, and enables real-time follow-up, reducing operational inefficiencies. The platform also offers a claim module that integrates with core insurance platforms for efficient claim notification and follow-up.
Target Audience
CoSure targets insurance companies, reinsurance companies, reinsurance and insurance brokers, and insurance agencies seeking to streamline risk transfer processes and access a global marketplace.
Features
- Digital risk placement: Find risk takers, compare quotations, and cede risks online.
- Automated reconciliation: Digitize documents and track data in real-time.
- Integrated claim management: Streamline claim notification and follow-up.
- Blockchain-based platform: Enables secure and transparent risk sharing.
- AI-powered market identification: Determines the most accurate market for insurance/reinsurance proposals.
- Encrypted chat and video calling: Secure communication within the platform.
- Multi-layered security architecture: Protects data with six encrypted layers.
- Data analytics: Compiles risk transfer data from various sources to create uniform reports.