Transforming the life insurance market

Coventia offers life insurance policies under a simple and straightforward idea - a fully online process without unnecessary paperwork and a fairer price for its clients.


Business Model, Marketing, Development



A new (user) journey_


Life insurance policies are mostly signed and managed offline. This process requires moderate to high paperwork for clients, which produces friction for users and companies. Most of the time this paperwork can be reduced or even eliminated.

Moreover, life insurance policies can be a beneficial product for clients, but the elevated costs make it an aching solution for the public mass, while the company’s margins are often inflated.

Having worked in different insurance companies, David Ferández Carbonell founded Coventia with the idea of streamlining the life insurance sector, by offering reliable compliance of the legal norms and by creating an easier journey for clients.

Partnering with the right insurance company_


Corporate Lab, along with DAS (leading insurance company in Spain) teamed up to help Coventia take off.

The concept was simple but powerful - an easier life insurance policy that lacked unnecessary paperwork, that offered the same reliable coverage, and that was more economical for the client. The first version of the project was executed in two initial sprints. This was enough to come up with a straightforward conception and sell it to an insurance company. In order for this project to become a reality, Coventia needed to find a reinsurance company that could provide the main product.

Being a subscription agency, the company needed to find an authorized supplier. Soon enough, there was a match between Coventia and Swiss Re - the world’s largest reinsurance company.

After exhaustively analyzing numbers and risk evaluation, an initial proposal was built by Coventia and Swiss Re. The purpose was to find an insurance company among Swiss Re’s clients. Finally, Fidelidade was the chosen insurance company - this helped Coventia get an insurance supplier, while Fidelidade got to improve its life insurance offer with a way more attractive policy.

Building a product with the right business model


Finding a differentiating business model was crucial to Coventia. In order for the project to be innovative and game-changing for clients, a new and effective business model needed to be found.

Coventia’s insurance model works at its best with clients that already have a life insurance policy. In this case, unnecessary paperwork can be cut off under the assumption that previous health tests are valid. This eliminates one the most frictional steps for clients -- getting a medical exam done. Not only does it present an easier path for clients, it also offers the same coverage without harmful tricks from the company’s side.

On the flip side, a huge percentage of costs can be cut, since banks’ and companies’ margins are often inflated. Compared to their competitors, a discount between 15 % and 30 % is offered at all times.

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Cheaper and forever_


Coventia has become the first digital end-to-end life insurance solution in Spain. Clients can fully close their contracts without any offline process. Plus, it is also the first life insurance model that eliminates the requirement for a health exam.

Our entrepreneurial team, along with no-code tools have allowed us to quickly build, test, pivot and validate the product without incurring in costly experiments.

As for today, Coventia is on its way to reaching the mass public by executing different marketing campaigns such as paid and organic content strategies, brand image building, and funnel optimization.

According to the market analysis, there are 15 million insurance clients only in Spain, and growing. 67% of them are signed with banks, which translates into 10 million clients paying up to 30% more for their policies.

Coventia offers its clients between a 15% and 30% discount on their life insurance -it depends on their previous insurance company- forever.

Numbers show the project can scalate and become a game changer not only in the life insurance sector, but also in the big picture.

Interface Design

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days to complete the project


team members involved in the process


hours spent on ideation


draft mock-up created

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