Covr Financial Technologies Announces New Head of Direct Distribution

PR Newswire

HARTFORD, Conn., Sept. 23, 2020 /PRNewswire/ -- Covr Financial Technologies (Covr) continues to see significant growth in its consumer business and is pleased to announce Todd Ewing as the Head of Direct Distribution. Todd comes to Covr with nearly 30 years of experience in insurance direct distribution and direct-to-consumer leadership, including leadership roles at SelectQuote, InsWeb, and Transamerica. For the past 9 years he has also served as executive consultant for dozens of direct marketers, brokerage general agencies and insurtech companies, and helped build and run numerous start-ups.

Todd will be responsible for the Covr Consumer platform which includes leading the consumer sales team as well as significant involvement in account management, product development, business development and setting the overall vision for Covr's consumer division. Todd's decades of work around enabling customers to find the right policy to fit their needs using technology will be vital as banks and credit unions continue to develop their insurance offerings.

"Todd is one of the industry's leading experts in building and growing direct-to-consumer insurance sales centers," said Ron Alexander, President and Head of Innovation for Covr. "His experience driving life insurance sales for self-directed individuals will have an immediate impact with our current banking partners and will help us establish world-class solutions for new partners. We couldn't be more excited to have Todd join our team."

Covr offers two full-service digital platforms to make it easier for financial institutions to offer insurance to their customers: Covr Consumer to enable banks and credit unions to offer life insurance to their banking customers through technology-driven white-labeled platforms and Covr Advisor to help financial advisors integrate insurance into their financial planning efforts in a simple, digitally-enabled way.

In late August, Covr released an updated Covr Consumer technology platform for customers of banks and credit unions that includes expanded customization options for financial institutions, enhanced omni-channel sales support, and engagement throughout the policy lifecycle. These advancements will give consumers simpler, faster options for their life, long term care, disability income and other insurance needs.

"We have seen a huge jump in interest directly from bank and credit union customers. In fact, insurance programs delivered to these individuals is up 270% year-over-year," said Mike Kalen, CEO of Covr.

About Covr Financial Technologies Inc.
Covr partners with financial institutions to provide life insurance solutions to their customers in an efficient, easy way that streamlines the process of selling and buying policies. Covr offers a choice of trusted life insurance products from leading insurance carriers, an easy way to compare rates, and the ability to purchase policies within minutes. Through its white label solutions, Covr helps financial institutions deliver a great experience under an existing brand their customers already trust. Covr currently serves over 25,000 financial advisors and over 10 million customers across over 30 financial institutions.

Covr's investors include eight leading venture capital firms: Nyca Partners, Commerce Ventures, Allianz Life Ventures, Connectivity Capital Partners, Contour Venture Partners, Aflac Ventures, Fairview Capital, and Connecticut Innovations. Covr's Advisory Board includes financial services leaders, including Chairman Brian Finn, former president of Credit Suisse First Boston; Joe Plumeri, Vice Chairman of the Board of Directors of First Data Corporation and former CEO of Citibank North America; Sallie Krawcheck, CEO and co-founder of Ellevest as well as senior executive roles at Bank of America, Citigroup and Smith Barney; Hans Morris, managing partner, Nyca Partners, chairman of Lending Club, formerly president of Visa; Brady Dougan, former CEO of Credit Suisse; Gregg Fleming of Rockefeller Capital and Bob Kerzner, formerly CEO of LIMRA.