Cover Genius

Cover Genius is a technology-based insurance services company that writes and prices customized policies for local markets, adapts it for other countries and underwriters; and translates them to over 20 languages.

Cover Genius’ vision is to protect all the customers of the world’s largest digital companies.

Cover Genius was founded in 2014 by Angus McDonald and Chris Bayley. The company is based in Sydney, Australia, with offices across Asia, America and Europe.

 

Cover Genius is the parent of RentalCover.com & BrightWrite. Its technologies include XCover, a distribution platform providing coverage for any line of insurance in any country, language and currency. XCover was developed after the early success of Rental Cover in the mobility space.

 

Cover Genius' XClaim, is an API for real-time payment of approved claims. It handles tens of thousands of instant claim payments in 90+ currencies via bank transfer, and it also allows partners to choose to remit via store credits, e-wallet and card top-ups.

 

Cover Genius' partners include Booking Holdings, owner of Priceline, Kayak and Booking.com, Intuit, Skyscanner, Descartes ShipRush. They are also available on eBay, Wayfair, Tile and, SE Asia’s largest company, Shopee.

 

Cover Genius is backed by Sompo Holdings, G Squared, King River Capital, Leap Capital, Regal Funds Management, Marinya Capital, and others. The company raised AUD $100M ($72M) in Series C round on Sep 27, 2021. This brings Cover Genius' total funding total funding to $94.4M to date. The latest round valued Cover Genius at a A$1B post-money.

 

  

  • Year founded: 2014
  • Funding Info: $94.4M over 5 Rounds (Latest Funding Type: Series C)
  • Yearly Revenue: NA
  • Employee Size: 51-200
  • Business Valuation: Valued at A$1B ($700M) as of Sep 27, 2021
  • City/Town: Sydney
  • State: New South Wales
  • Country: Australia
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