Rashmi Melgiri was inspired to start CoverWallet, a website that lets small business owners compare and select commercial insurance plans, after watching a friend struggle to find a policy. His ordeal revealed a “significant market need for a platform to digitally manage all the day-to-day interactions with insurance, from getting a certificate to tracking subcontractor details,” she told us in her 1,000+ Stories profile.
In 2016, she launched CoverWallet, and it has been growing rapidly since. “One of the biggest ways to measure success is by the talent you attract,” she says. CoverWallet has a strong team of more than 80 employees, she says, and valuable industry supporters and investors. And, her firm has received press attention from the likes of Fortune, Entrepreneur and TechCrunch. Going forward, she is working on short-term projects to improve site users’ experiences that support her vision to take “something that’s a pain in the ass” and make it “so simple, you can do it yourself and not even think about it.”
The company’s success has provided Melgiri with financial independence that allows her to assist family members with money matters who she otherwise could not have helped. It has also given her a chance to see the impact she can make on the world. “Going from two people to 80 people and shaking up an old industry” was empowering, she says. “Getting in tune with what you’re capable of really touches the rest of your life.”