Analysis Result

Their Problem

Upcover’s Solution

The previous insurer misclassified the company due to lack of understanding their business during the underwriting process, compromising the relevance and pricing accuracy of the insurance coverage.

upcover collaborated with the underwriters to reassess and recategorize the company as a marketplace, ensuring that coverage matched the business model & activities.

Analysis Result

Their Problem

Upcover’s Solution

Healthtech startup offers a software platform for hospitals to handle behind-the-scenes tasks. A sudden glitch causes a 72-hour shutdown and hospitals can't use their systems. The network is damaged, and personal health information (PHI) is exposed.

This is an example of a usual but complicated situation that could trigger various coverages, such as Professional indemnity and Cyber & Privacy Liability. The PI insurance policy protects against financial losses from negligence allegations, while the Cyber & Privacy Liability covers the costs of responding to the data breach.

Analysis Result

Their Problem

Upcover’s Solution

Startups involved in B2B and B2C SaaS may encounter patent infringement allegations, leading to legal challenges and defence costs.

The patent defence extension covers the costs associated with defending against patent infringement allegations, providing financial protection for B2B and B2C SaaS startups.

Analysis Result

Their Problem

Upcover’s Solution

Fintech startups often face gaps in coverage, with separate policies for different liabilities. This can result in inefficiencies and increased vulnerability.

A fully blended policy that combines E&O, D&O, crime, and cyber coverage, ensures full protection for fintech companies against financial and tech liabilities.

Analysis Result

Their Problem

Upcover’s Solution

Hardware startups may encounter challenges related to intellectual property infringement, where competitors or third parties claim that the startup's product violates patents or copyrights.

The insurance policy for hardware startups includes coverage for intellectual property infringement claims. This provides financial support for legal expenses and settlements, allowing startups to defend their innovations.

Analysis Result

Their Problem

Upcover’s Solution

Medical device startups often encounter issues with product liability, where defects or malfunctions in their devices can lead to legal claims, product recalls, and reputational damage.

upcover offers an insurance solution against legal claims arising from defects or malfunctions in devices, covering the costs associated with recalls, legal defence, and potential damage to the company's reputation.

Analysis Result

Their Problem

Upcover’s Solution

Web3 startups might face challenges related to token security, where theft, hacking, or vulnerabilities in token protocols can lead to financial losses and compromise the trust of users and investors.

upcover offers protection against losses resulting from theft, hacking, or vulnerabilities in token protocols, ensuring financial support to recover from security breaches and maintain the credibility of the startup.

Analysis Result

Their Problem

Upcover’s Solution

VC and PE funds commonly encounter challenges in navigating the insurance landscape, relying on fragmented policies for distinct liabilities. This fragmented approach leads to inefficiencies and heightened exposure to risks.

upcover works with global insurers a fully blended policy addresses the specific needs of VCs and PEs by consolidating coverage for Professional Indemnity, Cyber and Privacy Liability, General Liability, and Directors and Officers cover.