Why insurance.
Why now.
At Process Street we built the workflow layer for thousands of operations teams — and watched them stitch together a dozen tools to do work that should have been one piece of software.
Insurance was always the most acute case. Carriers, MGAs, and brokers run the most regulated, most process-heavy operation in the modern economy: twelve-plus tools, seventy percent manual work, eight billion dollars of BPO spend — and a workforce that's retiring faster than it's being replaced.
Agents change the answer. For the first time, you can build software that doesn't just orchestrate the work — it does the work. Reads the form, reasons about the policy, drafts the letter, knows the rule. With a human at every checkpoint that matters.
Coverwave is that platform. Built insurance-native, end-to-end, and compliance-first — the opposite of a horizontal toolkit, and bigger than any single point solution. We're hiring builders who'd rather replatform an industry than ship another chatbot.
Trajectory.
Process Street
Built the workflow platform behind ops teams at Salesforce, Spotify, AstraZeneca. ~$30M ARR. Acquired 2024.
Coverwave incorporated
Founding memo circulated. First insurance design partner signed within three weeks.
Seed round closed
Led by founders' fund + insurance-specialist angels. Six design partners onboarding through Q2.
Claims agent in production
Live FNOL triage with two carrier design partners. Underwriting in private beta.
Platform GA
All four agents, shared memory, marketplace integrations. Series A targeted.