Cover Genius Raises $70M in Series D Funding to Further Expand Embedded Business Model
Cover Genius, the insurtech for embedded insurance, announced it has raised $70M USD in Series D funding in a round led by Dawn Capital.
Cover Genius, the insurtech for embedded insurance, announced it has raised $70M USD in Series D funding in a round led by Dawn Capital.
Cover Genius, the insurtech for embedded insurance, announced the expansion of its leadership team with a series of strategic hires.
Experienced HR exec. to support rapid growth as the company more than doubles employee headcount. Daniel Chavenson also joins as VP of Strategy and Corporate Development to accelerate strategic business opportunities.
Cover Genius, the insurtech for embedded insurance, is pleased to announce that it has sold more than 10 million policies. This milestone follows a year of continued growth in which the insurtech saw a 667% increase in sales for XCover, its award-winning global distribution platform that enables digital companies to embed and offer any line of insurance or warranty product directly to customers with a single API call. In addition, the insurtech has tripled its US team as the demand for embedded protection continues in the region.
Cover Genius, the leading insurtech for embedded insurance, announced today that it has secured $100M AUD in a Series C funding round led by Sompo Holdings (Asia) Pte. Ltd (Sompo Asia), with participation from G Squared and other existing investors. The latest funding round follows a momentous six months during which Cover Genius tripled its gross written premium (GWP) after signing over 20 new partners across multiple industries.
Former Munich Re Digital Partners CEO joins insurtech Cover Genius to accelerate growth in US and Latin America New York, June 23 2021: Cover Genius,
In his role, Castellón will be leading the company’s strategic partnerships in LatAm, extending on the company’s successes with regional travel, retail, logistics, property and financial services giants including Despegar, Rentcars.com, eBay, Booking Holdings, Intuit and others who have integrated the multi-award winning XCover global insurance distribution platform.
Cover Genius has named Darcy Shapiro Chief Operating Officer, Americas, and Amir Massoudi Global Chief Revenue Officer. The appointments reflect Cover Genius’ growth in the US marketplace as it continues to secure new partnerships.
† Cost savings are based on a comparison of all Cover Genius shipping protection versus published carrier rates for Fedex, UPS, DHL, USPS, UPS, Old Dominion, DHL, XPO Logistics, Estes Express Lines, YRC and TForce Freight as at June 27, 2022. Time savings are based on average resolution times (i.e. the duration from initial filing to completed payment) for all XCover shipping protection claims as at May 31, 2022 (sample size = 868) compared with the industry average time including payment settlement (min. 6 days) and period to acknowledge a filed claim.
Cover Genius is a licensed insurance provider in many international jurisdictions.
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