(Worcester, MA) November 30, 2017 – Covenir, an innovative technology-enabled start-up providing back-office transaction processing to the insurance industry, announced today that their rapid growth rate has doubled projections for 2018. Covenir officially launched in 2016 with a promising future. Its founder Jon Hughes brings more than 20 years of operations experience in the property and casualty insurance industry. The company is pleased to have made many accomplishments since its inception; especially the talented team of insurance experts that they have assembled.
Starting in 2016, the company has grown its staff to over 50 people and its client base by 450%. Since the beginning of 2017, Covenir will have increased the number of managed policies by over 200%. Each of the company’s areas of support including print, underwriting, premium and customer service volume have also grown at a rapid pace. Each month, the Print Team is generating over 100,000 mailings, the Lockbox Team is depositing over $10,000,000 and the Customer Service Team is handling over 15,000 calls on behalf of the insurance carriers that we support.
In 2018, the company will continue its rapid hiring pace and revenue growth based on existing contracts, and is well positioned to add new insurance carriers to its growing list of clients.
“Our ability to scale our operations and hire experienced, dedicated local talent with strong insurance backgrounds has positioned us for continued long-term success,” said Jon Hughes, Founder of Covenir. “Our commitment to continually improve our levels of automation will enable us to further expand our service offerings with our clients for years to come.”
Covenir’s suite of insurance services includes policy servicing, customer service, billing, lockbox, print/distribution, first notice of loss, underwriting, and marketing campaign support. Their customers include insurance carriers, MGAs/brokers, fair plans, and state insurance government agencies. For a detailed description of Covenir’s services, please see https://www.covenirbpo.com.