Upcover, a Sydney-based insurtech firm, has announced a new pay-by-the-month insurance payment option that will provide sole proprietors and Small and Medium-sized Enterprises (SMEs) with better financial flexibility in times when they are in most need of it.
The team at Upcover is excited to be capable of providing clients with immediate accessibility to inexpensive cover unaccompanied by the stress of yearly payments as a result of the company’s latest 4.7 Million US Dollars seed investment.
Upcover launched the in-house implanted finance service to make it easier for customers to gain accessibility to their insurance products as a result of its client-centric strategy for insurance. Instead of relying on 3rd party financial service providers, the company can provide month-to-month payments directly to clients, eliminating the necessity for lengthy forms, finance approvals, and redirections.
The co-founder and Chief Operating Officer (COO) of Upcover, Anish Sinha, said that since they realize how essential month-to-month payment alternatives are to their clients, they have been working vigorously for the past 8 months to develop the technology needed to integrate them in-house. At Upcover, cost and attainability are their key concerns, in addition to providing jargon-free and speedy insurance. More Small and Medium-sized Enterprises (SMEs) and sole proprietors can now obtain the required insurance without financial hardship.
The company recognizes that the current economic climate is challenging for every business owner. Therefore, it does not want anyone to forego safeguarding their assets or company just because they cannot pay the yearly insurance costs in full.
The team at Upcover was able to introduce its pay-by-the-month insurance payment options thanks to a recent seed fundraising round that included 2 Million US Dollars in debt financing from Sydney-based financial services company, Etika.
Raf Uy, the Global Chief Financial Officer (CFO) and Executive Director at Etika, said their company is honored to support Upcover and help the team introduce their month-to-month payment options. Upcover has always taken client-centric steps toward business insurance. Their most recent launch shows just how serious they are about giving Small and Medium-sized Enterprises (SMEs) and sole proprietors a simple, straightforward, and faster experience with business insurance.