WorldCover
WorldCover is a YC Winter 2016 (W16) company. Based in New York, NY, USA. Team of 20.
About WorldCover
Summary
WorldCover connects smallholder farmers in developing countries with crop insurance backed by retail and institutional investors. Farmers gain coverage against natural disasters and bad harvests, replacing the informal risk-bearing that leaves them exposed to income shocks. Investors access returns uncorrelated with global financial markets while directing capital to agricultural communities at the base of the pyramid.
Business model
A fee on peer-to-peer insurance investments placed through the platform
Go-to-market
WorldCover targets both retail and professional investors seeking uncorrelated returns, and reaches smallholder farmers in developing-world agricultural markets as the insured end-users.
From the Y Combinator listing
Funding platform for global insurance, starting with crop insurance…
WorldCover offers peer-to-peer investments that provide insurance to the global poor. We connect a growing pool of investors who seek uncorrelated investment returns and impact from their capital with a huge and growing need for natural disaster insurance in the developing world. WorldCover's platform improves food and income security for smallholder farmers in developing countries. More than 70% of the 2.5 billion people living at the “base of the pyramid” throughout the world rely on agriculture for income and sustenance. Farmers face a number of major risks to their livelihoods which they cannot control. Insurance gives them a sense of security even if they have a bad harvest, allowing them to improve their diets, invest in their farms, and send their children to school. In an increasingly interconnected world, diversified markets are becoming harder and harder to find. WorldCover's investment products offer both retail and professional investors attractive yet uncorrelated returns with the world's financial markets.
Facts
- Fintech / Fintech -> Insurance
- New York, NY, USA
- 20
- Inactive
- Growth
Founders (1)
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