“We were underwriting profitably, we distributed through 5000 independent agencies, but ultimately decided to wind the business down and transition all our policyholders to another insurer. So born out of us building Cover really came Re and Re is a licensed reinsurer.”

https://www.theblock.co/post/173386/karn-saroya-raises-14-million-for-insurance-protocol-re-as-insurtech-platform-cover-is-wound-down