Coover was born with the aim of bringing more security and economic stability to millions of people around the world, especially in developing countries, such as Brazil, where the majority of the population has no protection against accidents and sudden losses.
Our initiative, Coover, was actually born as ” Mutual.Life “, an insurtech with the mission of rescuing the principles and the social role of mutualism, unfortunately neglected by the current business models of the insurance market.
Our motivation has always been to use state-of-the-art technology to enable innovative solutions that would allow us to expand insurance coverage in Brazil and in the world, with flexibility, justice and security. Coover combines Blockchain technology with Artificial Intelligence within the technology stack.
However, we quickly understood that we could not move from the small closed tests we carried out to broader operations, without the necessary regulatory approval. And that is why this date of October 8, 2020 has become an important milestone for Coover, and seen approval for the SUSEP Regulatory Sandbox, which will guarantee us a temporary authorization to operate as an insurance company for 3 years, so that we can new business model.
There are many challenges ahead, but we were born as a 100% digital, modern insurance company, ready to adapt quickly and to scale the entire operation as our value proposition is validated and our products demonstrate acceptance in the market.
We believe that access to protection against economic losses is fundamental to the development of a stable society. We know that unexpected events can happen to anyone, so we understand that insurance must be accessible, fair and effective.
That’s why we do our best to help protect what matters to the most diverse social groups. We are committed to helping people to be financially secure in case something unexpected happens with what they care about, ensuring the viability of their projects and the protection of their dreams.
The journey is long.