Machine Cover
Machine Cover, Inc.
Machine Cover, Inc. is an innovative company specializing in parametric insurance solutions that address hard-to-insure risks traditionally overlooked by conventional insurance methods. By leveraging advanced technology, the company empowers insurance carriers and brokers to offer customized, trigger-based insurance policies that facilitate rapid claims processing and enhanced customer satisfaction.
Products & Team
Parametric Insurance Technology Platform
Machine Cover’s technology platform is designed to allow insurance carriers and partners to develop, price, and distribute parametric insurance products efficiently. It enables the creation of insurance policies that pay out based on predetermined triggers instead of the need for assessments of damages.
The platform addresses the need for quicker and clearer claims payouts while allowing for tailor-made insurance coverage that meets specific client needs and addresses new and evolving risks.
Customer problems addressed include the challenges of traditional insurance methods such as lengthy claim processes, complex policy definitions, and limited coverage options for emerging risks.