Covr is New Name of 1Click Coverage; Benjamin Named CEO
Staff Writer | October 28, 2016
Covr Financial Technologies, a privately owned digital personal insurance platform, is the new name of 1Click Coverage. The company also announces that Bill Benjamin has joined Covr as CEO.
Benjamin was formerly CEO of U.S. Bancorp Investments, an affiliate of U.S. Bancorp, Minneapolis. Todd Ruplinger, founder and former CEO, will become vice chairman of the company where he will continue to lead efforts across strategic partnerships and innovation.
Covr is in its third year of simplifying the insurance-buying experience for consumers, enabling them to purchase personal insurance online within minutes through financial institutions and financial advisors. Covr distributes to the institutions an integrated turnkey digital solution, including personal insurance products from nearly 20 major insurers. This cutting-edge solution is backed by a fully supported program of education and training on products, insurance-product marketing and insurance-licensed phone advice and support.
“Covr Financial Technologies’ mission, which we share with our institutional clients, is to provide an easier way for consumers to protect the people and things that matter most in life,” says Benjamin. “Insurance has always been a challenging purchase. Buying it is complex and takes too long. This has made insurance-buying difficult for consumers. The challenges for the institutions that work with consumers are to keep up with changing consumer preferences, to offer comprehensive financial advice and to meet the increasing regulatory demands of client best interest. Our sole focus has been to make the entire process easier for the institution, advisor and consumer.”
Benjamin reports that Covr is growing organically by adding to its client base of more than 50 of the nation’s largest financial institutions, including the Navy Federal Credit Union.
“We are helping them to meet their more stringent fiduciary responsibilities,” says Ruplinger. “In addition, we are addressing the need from financial institutions and nontraditional insurance distribution partners to bring insurance into the financial planning conversation.”
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