KARN SAROYA

Co-founder and CEO, Cover

Digital Insurance - - THE INNOVATORS -

Saroya and co-founders Natalie Gray, Anand Dhillon and Ben Aneesh raised $11 mil­lion in seed fund­ing for Cover, which is unique in its use of im­agery to cus­tom­ize in­sur­ance cov­er­age. The com­pany op­er­ates as a bro­ker: Its Magi­cam tech­nol­ogy uses a smart­phone cam­era to rec­og­nize items and add them to a cus­tomer's home in­sur­ance in­ven­tory. The plat­form can also iden­tify the make and model of a car. Which­ever prod­uct is de­sired, Cover will extract rel­e­vant data from the images and shop the cus­tomer's risk pro­file to part­ner in­sur­ance com­pa­nies. Users of the app can also in­put their cur­rent pol­icy in­for­ma­tion for Price Drop Alerts; Cover will no­tify them if a lower price on a sim­i­lar pol­icy is avail­able.

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