Insurance marketplace, Coverfox today announced the appointment of Premanshu Singh as its new Chief Executive Officer. Premanshu’s appointment is a part of planned leadership transition, as he succeeds Varun Dua, who has moved on to set-up a new online general insurance company.
An IIM, Ahmedabad alumnus, Premanshu who brings to Coverfox more than a decade’s experience across FMCG, technology and start-ups sector. His understanding of working across MNCs and start-up environment/ecosystem allows him to approach and solve complex business problems from both sides of the ecosystem.
Singh’s last stint was at Practo where he was the vice president marketing of the company. He has led senior level roles in strategic planning, marketing, sales and business development at leading corporates such as Johnson & Johnson, SMSGupShup, People Interactive, Shaadi.com, Webaroo Technologies and ITC.
He co-founded a2zbaby.com in 2011, an ecommerce store wherein parents can find products of their choice for their kids. He is also an active Angel Investor, Coverfox being one of his early investments.
In his current role, he will spearhead and lead the strategic growth at Coverfox across critical business areas including strategic business planning and development, partner management and customer engagement, driving engagement through new touch points and overseeing transformational customer experiences while including newer products with attractive and customized price points. His primary focus will be on sustained business viability and charting a suitable course for the future.
“I am pleased to welcome Premanshu to Coverfox family. Premanshu is one of the early startup specialist and Thought Leader in the industry. He brings valuable experience as a leader, learner and someone who has his ears to the ground and feet on street approach. His illustrious track record and value system make an ideal choice for an organisation of our size and repute. He is aligned with our vision of using technology to take insurance to the last mile. We could not think of a better person to help support Coverfox through its next exciting chapter of growth. I wish Premanshu successful innings at Coverfox,” added Devendra Rane, founder and chief technology officer, Coverfox.com.
Glibberbug Technologies, which runs Coverfox.com, was established in 2012 by IIT-Bombay alumni Devendra Rane and Varun Dua. It was started as a venture to build technology for insurance firms. However, the company pivoted and started selling insurance online under the brand name Coverfox.
At present, the startup provides a platform for users to search, compare, buy and manage insurance, including car insurance, bike insurance, health insurance, travel insurance and term life insurance.
Earlier in June this year, Coverfox raised about 96 crores ($15 million) in its Series-C round, led by US insurer Transamerica, with participation from its existing investors.