Media

Building reassurance in travel with protection

While COVID exposed gaps in various verticals, it brought to light the inadequacies of traditional travel insurance. At the start of the pandemic, most travelers found that the bundled “one-size-fits-all” policy they paid for didn’t cover pandemics, leaving many with denied reimbursement claims and a poor user experience.

Cover Genius Doubles Number of Policies Sold, Surpassing 10 Million

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.

Optimizing the claims experience

Our VP of Customer, Luiza Gusmão, recently wrote a piece for the International Travel & Health Insurance Journal discussing how embedded technology and automation in the claims process helps to optimize efficiency and improve customer experience. The COVID-19 pandemic has placed protection at the forefront of every travelers’ mind. Upon examining post-COVID attach rates across our network of partners including Booking.com, Icelandair, Skyscanner, Hopper, we found that travelers are opting to add protection at a rate 6x higher than at the start of the pandemic.

Research Reveals 50% of Australian Travellers Were Not Covered for Pandemic-Related Reasons When Purchasing Travel Protection, Second Highest Figure Globally

A recent travel insurance survey shows that 50% of Australian travellers were not covered for pandemic-related reasons when purchasing travel insurance, despite purchasing such a policy for pandemic protection. This was the second highest rate of non-coverage globally out of the 20 countries polled. This is according to a survey, conducted by Momentive.ai, and commissioned by Cover Genius that observed 507 Australian travellers to better understand sentiments regarding travel insurance, their preferred channels for obtaining it, and their experience when making a claim.

Cover Genius accelerates growth in India in collaboration with e-commerce marketplace Flipkart

Cover Genius, the insurtech for embedded insurance, today announced its continued growth in India with the signing of homegrown e-commerce marketplace, Flipkart. This momentous news follows Cover Genius’ recent Series C funding round of $70M USD, which is being used to expand its global distribution platform, XCover, and support new global partnerships in e-commerce, property, travel, mobility, auto, B2B and financial services.

Insurance the new way

In a recent panel with Insuretech Connect, Chris Bayley, our Chief Innovation Officer & Co-Founder, discusses the new way of protecting customers through embedded insurance and how the pandemic has changed the way we view protection.

Rhino partners with Cover Genius to protect renters with embedded insurance, bringing convenience to the rental experience

Rhino, the leading real estate technology company, today announced its expansion into renters insurance, in partnership with Cover Genius, the leading insurtech for embedded insurance. Coupled with Rhino’s core product, Security Deposit Insurance, the new Renters’ Insurance offering will maximize the level of coverage for renters and property managers through a seamless product experience.

The Future of Distribution: Embedded Insurance

In a recent presentation at INCO Greece, our SVP Regional Head of LatAm partnerships, Julio Castellón shares the future of insurance distribution and leveraging customer data points. Over the past two decades, the development of the internet and the deployment of fast internet networks has reached millions of people all over the world. The internet along with the pandemic has accelerated the rapid growth of e-commerce and customers have grown accustomed to sites they find convenient, trust and enjoy using.

Cover Genius secures $100M in Series C round driven by Sompo Holdings Asia to expand its embedded insurance platform

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.

Smart data and AI use can ‘nudge’ customers to better offers

In the digital age, we’re increasingly comfortable trading our data for some sort of reward or gain. In a recent Roundtable interview, our CEO Angus McDonald, told PYMNTs.com that embedded offers, and nudging consumers toward what they need, at the right time, can pay dividends to all involved.

How Banks can better leverage Transactional Data to create Tailored, Embedded Insurance

Banks sit at the center of all our financial transactions so they have a natural advantage when it comes to offering their customers insurance products. Daniel Poole, our VP Strategic Partnerships EMEA talks about the widening gap between digital and legacy banks and opportunities for banks to utilize transactional data into building an ecosystem of ancillary services in a recent interview with PYMNTS.com.

For point-of-sale peace of mind, embedded insurance offers must be hyper relevant

As the digital landscape evolves, consumers are searching for peace of mind and safety when doing their business online. Arijit Chakraborty, Managing Director APAC, recently discussed with PYMNTS.com the help of transaction and client-based data to deliver “hyper-relevant” embedded insurance offers to ultimately protect the consumer.

Embedded insurance is synonymous with convenience

The online driven surge from the COVID-19 pandemic has resulted in consumers being much more comfortable with doing their purchases online than ever before, and undoubtedly this trend will continue to grow exponentially. Dave Brune, President for the Americas, recently told PYMNTS that embedded insurance would be the big trend in digital commerce because of that comfort level in the marketplace.

Trends driving more efficient automated claims

In a recent webinar with Insurtech Insights, Luiza Gusmão, our VP Customer discussed how automation in the claims process can improve customer experience, optimize the efficiency of claims and make insurers’ lives easier.

Embedded insurance sales spikes in Latin America post-Covid

In a recent interview for PYMNTS, our SVP Regional Head of LatAm Partnerships, Julio Castellón addresses the distinctive cultural and geographical opportunities and challenges in the Latin America Region emphasizing the positive response embedded insurance has had in solving the systemic underinsured problem in this region.

The innovation behind supercharged distribution

Traditionally, insurance products were pushed to sell based on commission and not what the consumer wanted nor needed. In the new digital age, that has now shifted and consumers know what they want and what they’ll get from their insurance policy. In the webinar panel for Insurtech Insights, Managing Director APAC Arijit Chakraborty features as a panelist to discuss leveraging data and embedded insurance as the future of insurance.

Cover Genius announces further growth in mobility market with Ola partnership

Cover Genius, the global insurtech leader whose award-winning XCover insurance distribution platform protects the customers of some of the world’s largest online companies including Booking Holdings, Intuit, eBay, Skyscanner, Wayfair, and the leading e-commerce platform in Southeast Asia & Taiwan, Shopee, has announced its continued growth within the mobility market with a major partnership with Ola.

Product and service innovation: A recipe for success

In the modern age, products ordered via online retailers can be delivered in the matter of hours. There’s been a major shift in consumer expectation with the acceleration of technology and with that, the insurance industry ultimately needs to follow suit and deliver claims instantly.

How embedded insurance offers fintechs a top opportunity

The global pandemic has helped evolve and innovate the insurance industry as consumers have increasingly shifted to their favorite online platforms to purchase products and services. Arijit Chakraborty, our Managing Director of APAC, featured in The Fintech Times article discussing the future of embedded insurance.

Talking tech: Disrupting insurance coverage in new ways

Our Chief Operating Officer of the Americas, Darcy Shapiro, discusses the role of women in insurance leadership, how technology is changing the industry and opportunities for the future in the latest episode of Property and Casualty 360 Podcast

How new insurance distribution models can create better customer engagement

While the shift from the physical world to the digital world has been in full swing for some time, a few industries, like insurance, have lagged behind. Insurtech today is changing the way insurance has been distributed for generations, and enables online businesses to become the primary distributors of insurance at the point of sale. This session will look into how large e-Commerce companies from a variety of industries are leveraging their customer journeys to sell insurance and unlock the value of innovation in the insurance value chain while increasing customer engagement and loyalty.

Icelandair partners with Cover Genius to offer “Covid plus” medical cover

Icelandair has announced today its partnership with Cover Genius, the global insurtech leader whose insurance distribution platform provides protection for customers of the world’s largest online companies, to offer embedded “Covid Plus” Cover for their worldwide customers, launching in Europe and Americas and Canada following soon.

The future of travel insurance

Our Head of Travel Partnerships for EMEA, Peter Smith, was featured as a guest on the Insurtech Insider Podcast. In this episode, Peter discusses how the pandemic has changed the needs and expectations of customers when it comes to travel, specifically the need to include relevant COVID-19 protection products for our customers. He emphasizes the importance of working on new products in collaboration with partners to suit customer demand.

Hearing the voice of the customer and committing to the CX revolution

In the present day, most organizations claim to be customer centric using different tools and methodologies to capture the voice of the customer. Indeed, asking the right questions and knowing what information to look for is important. Darcy Shapiro, our Chief Operating Officer for the Americas, has found that there’s been a major shift in customer expectations with the acceleration of technology.

The demand for travel insurance and embedding COVID-19 policies

Our Head of Insurance, Graeme Dean, was featured as a guest on the Insurtech Insider podcast. In this episode, Graeme discusses the demand for travel insurance increasing as more destinations require coverage as we move towards embedding COVID-19 policies in all insurance verticals.

Embedded insurance helps merchants avoid the ‘Protection Gap’

Whether they know it or not, consumers have been the beneficiaries of embedded insurance, a trend that’s moving beyond simple eCommerce payments and has recently made its debut in the logistics sector. Embedded insurance offers a seamless alternative to the clunkiness of traditional insurer offerings: When consumers buy high-priced electronics from their favorite online retailer or expensive flights from their airline of choice, they’re offered protection right at the point of checkout with coverage tailored to their specific needs. Please see the full article here.

Digital embedding makes insurance relevant

It should come as no surprise that the pandemic has opened up new opportunities for consumers to consider insurance. The unforeseen, after all, might seem like it’s more a possibility than ever before — disrupting travel, health, and even shopping.

Driving customer success panel – future of insurance

Our Co-Founder and Chief Innovation Officer Chris Bayley was invited to speak on a panel at the Future of Insurance event, discussing how Cover Genius has leveraged technology to up-end the traditional processes of the insurance industry.

Cover Genius Appoints Julio Castellón SVP Regional Head of Partnerships, Latin America

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.

How CTOs Build Winning AI Products – Tech in Asia

Our Chief Technology, Peter Phillips, spoke on a panel for Tech in Asia, joined by Han-Ley Tang, Founder of Blue Monkey, Chee How Lim Founder & CEO of Tapway, and Bernard Leong, Head of Machine Learning and Artificial Intelligence, ASEAN, Amazon Web Services, to discuss how they are deploying AI and machine learning within their product stack.

Innovate at pace to kick-start travel recovery – the future of insurance

Recently, we partnered with Skyscannner, the leading global travel marketplace, who saw an urgent need to ensure their customers were offered protection that was fit for purpose under a global pandemic. Together, we launched a first-of-its-kind Covid-19 bundle of travel insurance products to make sure travelers can feel safe again to book their next trip.

Why partnerships are the future of customer service

Innovation within the insurance industry starts from adopting a customer-centric mindset – this is the building block for success if insurtechs and insurers are to effectively partner to better distribute products, be more transparent with customers, and improve the overall claims process.

Nurturing partnerships between insurers and insurtechs

Our Head of Insurance, Graeme Dean, was joined by Andy Lerner, Managing Partner at IA Capital Group, at Insurtech Insights to discuss the best way to nurture the ever-growing number of insurtech partnerships that insurers and insurtechs are creating, and ensure that each side can bring out the best in each other.

Online retailers need to offer tailored warranty protection at the PoS to stay competitive

VP of Partnerships, Peter Paine, spoke with PYMNTS.com on how we distribute personalized warranty products to customers of the world’s largest online companies, such as Wayfair. “As consumers look for peace of mind for their purchases, consumers are also looking for protection — and they don’t want another thing to worry about in the current uncertain climate,” Paine said. “These days, peace of mind is top of mind for everybody.”

The future of distribution: Embedded insurance

Embedded insurance is the future of how insurance and warranties will be distributed as it allows a high degree of responsiveness and adaptability to customer needs in a fast-changing world. At Cover Genius, we enable the world’s largest digital companies to protect their global customers, at the point of sale or sign up

Insurtech Insider Podcast episode 78

Our Co-Founder and Chief Innovation Officer, Chris Bayley, was invited to feature on episode 78 of the Insurtech Insider podcast. In this episode Chris discusses Cover Genius’ $10 million cap raise and what this means for innovation in the insurtech industry.

How XCover and Skyscanner partnered for world-first COVID-19 protection

Covid-19 brought attention to travel insurance and it’s now commonly known that most travel insurance policies taken out pre-Covid, were not fit for purpose under a global pandemic. Typically, customers were not protected but there didn’t appear to be an appetite within the insurance industry to do anything about it! For us, this wasn’t good enough.

InsureTech Connect fireside chat

Watch Mitch Doust, Chief Operating Officer – Americas at Cover Genius and Mauricio Comi, Head of SMB Insurance at Intuit chat at the Insuretech Connect 2020 global event. Mitch and Mauricio discuss the use of data to drive personalized insurance offerings for SMBs and how this is benefiting Intuit’s wide range of customers.

Optimizing Retail Insurance Price

This is part of Growth Studies, a series of articles about how BrightWrite improves yield for partners. We analyze the impact of product development and making

Make secondary revenue a primary focus

With rapid changes happening in e-commerce, leaders tend to intensify the focus on their core revenue drivers. It’s a natural reflex that, unfortunately, can leave

Instant payments

Payments are at the heart of the e-commerce success story. The development of innovative fintech platforms and streamlined transaction processes have helped meet rising consumer

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