NEW YORK--(BUSINESS WIRE)--CoverWallet, the simplest way for small businesses to understand, buy and manage their insurance online, announced that former OnDeck® (NYSE: ONDK) executive, Paul Rosen, has joined the company as COO.
"If there is such a thing as the perfect fit for this role, Paul must be it. Paul's track record growing tech-enabled, leading financial organizations within regulated and competitive markets speaks for itself. His skillset will be instrumental as CoverWallet looks to scale, making it possible for millions of small businesses to get the right protection faster and easier," said Inaki Berenguer, CEO and Co-Founder of CoverWallet. "Attracting someone of Paul's caliber is a remarkable milestone for the company. His experience will be foundational to the next phase of CoverWallet’s success," added Rashmi Melgiri, Co-Founder of CoverWallet.
"I am thrilled to join the CoverWallet team. Insurtech reminds me a lot of what Fintech looked like 5-6 years ago. It is an industry that is ripe for disruption through technological innovation. CoverWallet has a lot of momentum and a great team, and I am looking forward to helping the organization scale."
Rosen brings over 20 years of experience in managing sales organizations to CoverWallet. During the last 6 years he served as Chief Sales Officer at OnDeck, where he grew annual revenues from $10M to over $300M and played a crucial role in OnDeck’s transformation from startup to public company.
Launched in early 2016, CoverWallet combines deep analytics, thoughtful design and state of the art technology to help small businesses with all their insurance needs. CoverWallet delivers a seamless user experience while offering savings, customized coverage and best-in-class service to their customers. In a matter of minutes, any business can get peace of mind, buying and managing their insurance, all through CoverWallet’s online platform.
Backed by Union Square Ventures, Index Ventures, Highland Capital Partners, Founder Collective and Two Sigma Ventures, the company is actively disrupting the $100 Billion small business insurance market. CoverWallet won the 2017 Best Insurtech Solution from the Benzinga Awards and was recently named "One of the Most Entrepreneurial Companies in America" by Entrepreneur Magazine.