CarTrade Tech Partners With CoverStack Technologies For Seamless Insurance Technology To Its Dealers

CarTrade Tech, a multi-channel online auto platform, has announced a strategic partnership with CoverStack Technologies, a digital ‘Insurance Infrastructure as a Service’ platform. Through this partnership, CoverStack Technologies will be able to offer digital insurance services on CarTrade Tech’s dealer-oriented platforms. This will help dealers to insure their inventory seamlessly while they focus on their core.

The process of purchasing or renewing motor insurance policy is manual and time-consuming for the majority of the players in the online automobile business. Aiming to eliminate paperwork hassle of obtaining insurance, this partnership will smoothen the insurance buying experience.

‘CarTrade Tech has been an able partner to a large number of new car, used car and bike dealers in the country. Apart from helping them with their core businesses, we provide them with technology and digital enablement that in turn helps our end consumers. Our partnership with CoverStack Technologies will help our dealer partners avail insurance for their inventory with ease. The tech solution also helps the dealers provide an excellent opportunity to help enhance customer experience by digitally managing their claims.’ said Banwari Lal Sharma, CEO Consumer Business, CarTrade Tech on the partnership with CoverStack Technologies.

CoverStack Technologies, which is also the tech stack that powers Coverfox Insurance (coverfox.com), developed a plug and play model, which provides technological solutions and insurance infrastructure to Banking, Financial Services, and Insurance players. By partnering with CarTrade Tech, CoverStack Technologies will extend its insurance-providing technology and enable a one-stop-shop for motor insurance for CarTrade Tech Dealers.

Commenting on the partnership and the potential of CoverStack Technologies, CEO, Sanjib Jha said, ‘‘With the ever-developing market of motor insurance, new policies and add-ons being introduced, people are encouraged to buy an insurance policy that suits them best. Further, people want a hassle-free experience to buy insurance - Whenever and Wherever. Our technology CoverStack is a one-stop shop solution to buy insurance and manage claims digitally. The platform aims to bridge this gap by digitizing the process through cutting-edge technology. The end-game is to strengthen the InsurTech landscape by innovative technological advancement leading to financial inclusion and greater access to insurance across India."