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/PRNewswire/ Covr Financial Technologies, a leader in insurance technology, hosted a gathering of investors and politicians in their new Hartford office..
Technology is becoming increasingly important to the finance world, and higher education institutions in Connecticut are responding by adopting financial technology, or fintech courses and degrees.
Next spring UConn will launch its first-ever fintech program, a master’s degree that will teach students new technologies like blockchain and cryptocurrencies, alongside concepts more traditional in finance like predictive modeling. The program will be offered at UConn’s Hartford campus.
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John Wilson
UConn’s forthcoming fintech degree, and financial technology courses offered at other Connecticut colleges like Sacred Heart University, come as experts predict the field will grow substantially in coming years. A 2019 PwC survey found 75% of financial services companies are creating jobs related to fintech, and 42% of those companies are having trouble filling the positions. Additionally, employers say training in fintech would give graduates a leg up when applying for jobs.
Hartford-based digital life insurance software maker Covr Financial Technologies said it has secured a $2.3 million investment from Sony’s venture capital fund, helping it wrap up an investment round totaling $12 million.
The money from the Sony Innovation Fund by IGV (which stands for Innovation Growth Ventures), formed by Sony and other partners in 2019, comes on top of more than $20 million in prior Covr fund raises.
IGV made the investment as Covr launches a suite of AI-powered term life insurance products.
Covr CEO Mike Kalen said his company will use some of the money for hiring, adding roughly five workers in Hartford and roughly 10 in Idaho, where the bulk of the company’s staff works.
Covr Financial Technologies Launches New Insurance Product Suite with Investment from Sony Innovation Fund by IGV
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HARTFORD, Conn., April 29, 2021 /PRNewswire/ Covr Financial Technologies (Covr), a leading digital life insurance platform, has completed its latest funding round with an investment from Sony Innovation Fund by IGV. This funding comes in conjunction with the launch of Covr s suite of new AI-driven term life insurance products, which bring market-leading capability to the financial institutions and insurance companies that use Covr solutions to support the growing trend of self-directed, shop-from-home, insurance buying experiences that are now possible because of emerging technology and robo-advice tools.