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.
Australian Resident policies are sold by Cover Genius Pty Ltd (Australian Business Number 43 159 983 598) in its capacity as an AFS Licensee, No 490058 and underwritten by Assetinsure Pty Limited (ABN 65 066 463 803, AFSL 488 403) or Pacific International Insurance Pty Limited (ABN 83 169 311 193). Cover Genius does not act as your agent: this advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your personal circumstances. Before you make any decision about whether to acquire the product, please read the PDS & FSG contained in your quote. If you purchase a policy from Cover Genius, the company receives a commission which is a percentage of your premium – ask us for details. Cover Genius is bound by the General Insurance Code of Practice and Family Violence Policy.
American insurance policies are sold by Cover Genius Insurance Services, LLC, a Delaware limited liability company, 11 West 42nd Street, 2nd Floor, New York, NY 10036. Its license information is available here. Cover Genius Insurance Services, LLC receives compensation from its underwriting partners. Coverages may vary and not all coverage is available in all jurisdictions. Insurance coverages are subject to the terms, limitations and exclusions in the applicable policy.
American warranty products are sold by Cover Genius Warranty Services, LLC, a Delaware limited liability company, 11 West 42nd Street, 2nd Floor, New York, NY 10036.
Cover Genius Ltd. is authorised and regulated by the Financial Conduct Authority. Firm No. 750711, Registered Office: 4 Ravey Street, London EC2A 4QP, United Kingdom, incorporated in England & Wales. Company Registration Number: 09408621.
Cover Genius Europe, B.V. is authorised and regulated by the Dutch Authority for the Financial Markets [Autoriteit Financiële Markten] as an insurance intermediary, licence number 12046177. KvK number 73237426.This website uses cookies. By continuing to use this website you are giving consent to cookies being used. For information on cookies and how you can disable them visit our Privacy Policy.
† 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.
‡ The score includes any type of claim and claim outcome across our partner network except for those partners with less than 30 claims and those not assessed by Cover Genius.
‡ Conversion statistics are from a wide-ranging digital retail study conducted by an XCover partner that measured XCover’s impact on core conversion rates using a randomized split test of +70,000 visits over 20 days and finding an 8% increase in core conversions, and are further supported by the experience of an XCover ticketing and travel partner who reported a 20% increase in core conversion.
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