XN launches IPMI MGA using CoverGo platform
The greenfield managing general agent is targeting markets in Europe, Asia and Africa
XN Worldwide Insurance, a Canada-based managing general agent (MGA) and part of the Henner Group, has adopted the CoverGo insurance platform to launch an international private medical insurance (IPMI) MGA focused on markets across Europe, Asia, and Africa.
CoverGo is a global insurtech company that helps insurers build and launch products through its modular platform while ensuring compliance with diverse regulatory frameworks. XN adopted its end-to-end core health insurance platform within eight months, described by CoverGo as record time. The aim was to swiftly establish its presence in the market while boosting conversion rates, driving portfolio profitability, and reducing operational costs.
CoverGo’s broker portal will enable XN to distribute products digitally through a global network of brokers and other distribution partners.
Commenting on the partnership, Cesar Moufarrege, Managing Director of XN Worldwide Insurance, said: “CoverGo stands out as a leader in the digital health insurance space globally. The innovative and future-proof technology coupled with [the] health insurance expertise of the team facilitated our decision to adopt CoverGo for our greenfield MGA and go to market within eight months.”
Tomas Holub, CEO and Founder of CoverGo, added: “At CoverGo, we don’t simply act as a traditional vendor to our customers; instead, we partner with them to unleash their business innovation while providing the peace of mind that they can rely on us. This collaboration validates CoverGo’s health insurance capabilities, not only for leading global health insurers but also for innovative MGAs and digital insurers launching greenfield operations.”
Earlier this year, Canadian health insurer GMS adopted CoverGo as its end-to-end modular core insurance platform for employee benefits.