NYC: The Hub for "Insurtech"

CoverWallet is at the forefront of the rapidly growing "insurtech" movement. The young company, based in New York, has its eyes set on disrupting Property & Casualty insurance for small business. Inaki Berenguer and Rashmi Melgiri, the company's co-founders, joined us on set to share how they are reinventing insurance. The industry is one of the few that still operates offline. Melgiri says CoverWallet built the first online platform to buy and understand policies. The company also partners with real estate firms and other small businesses online to capitalize on the word-of-mouth nature of insurance. New York City is becoming the hub for insurtech. Melgiri says the Big Apple is the hotbed for innovation in the area over Silicon Valley, because it is the financial capital of the world and is increasingly attracting new tech talent.
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