“We’ve grown astoundingly, and we are continuing on a ridiculous, ridiculous trajectory of growth from a revenue perspective,” said
Covenir caters to insurers that want to outsource operations. If an insurer does not want to answer customer calls, open envelopes and cash customers’ checks, or print paperwork and mail it to customers, Covenir can do that.
Covenir can also tackle underwriting for its customers. With guidance from an insurer, Covenir workers can evaluate the risk of insuring a house, a car or something else to determine the price of a policy.
More recently, Covenir is offering sales services to insurers. If a client wants to offer new coverage, it can do so with Covenir workers selling the service.
There are good reasons for insurers to outsource customer service, bill processing and other functions. Pressure to cut operating costs is growing, even as costs in information technology are growing for insurers.
Over the last decade, insurers moved work to
Another wrinkle: Technology developers are creating robotic systems to automate business processes historically handled by workers.
After about a year in the Clearly Coworking center on
Some of the workers transferred from large insurance operations to work at Covenir, according to
“They literally just said, ‘I can’t work for this company any more, it’s too corporate,’ ”
The company has about 80 employees and second site in
“I walked away from a 30-year-old company in a higher-level management position, but the culture was not what I was looking for,” said Eleni Koumpis, Covenir customer service manager. “When I came in, I interviewed with Jon and Sallie. I got a real clear picture of what they were trying to achieve here and the way in which they were trying to achieve it, and for me, that was incredibly attractive.”
Covenir’s call center — a cluster of cubicles where workers speak to their clients’ customers — handles about 20,000 calls per month. Covenir declines to release the names of its customers but says clients range from large, well-known national insurers to small startups and specialty insurers.
“As we’ve grown and added clients, one thing we know is we don’t want to be a call center,”
He also likes the low employee turnover at Covenir.
“When they hire people, they tend to stay,”
Covenir markets its
Other clusters of cubicles at Covenir hold underwriting workers and sales workers. A “premium support” cluster of workers handles checks sent to insurers, scans payments, validates whether payments should be posted to clients and handles other tasks for insurers.
Covenir does not disclose revenue.
The company has also partnered with other organizations that also offer services to insurers. The collaborative goes by the name
Covenir expects to continue hiring in 2019, particularly to bring on managers to handle the growing business. Covenir also wants to market itself more.
“We’re growing up as a company, we’re trying to formalize our marketing and our sales,”
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