Cover Genius

Cover Genius

Embedded insurance solutions for global platforms

Overview

Cover Genius embeds insurance products directly into the purchase flow of global digital platforms through a single API. It partners with large brands and e-commerce platforms to offer insurance options like travel protection, extended warranties, and shipping insurance, charging fees on policies sold and earning revenue from carrier partnerships. The product works by integrating insurance at checkout, creating a seamless user experience across travel sites, marketplaces, and retailers. This focus on embedded insurance across major partners and its single API differentiates it from competitors that offer standalone policies or more fragmented solutions. The company aims to provide tailored, end-to-end insurance solutions that boost customer satisfaction and help partners grow their business.

About Cover Genius

Simplify's Rating
Why Cover Genius is rated
B+
Rated A on Competitive Edge
Rated B on Growth Potential
Rated B on Differentiation

Industries

Enterprise Software

Financial Services

Company Size

501-1,000

Company Stage

Series E

Total Funding

$244M

Headquarters

New York City, New York

Founded

2013

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Simplify's Take

What believers are saying

  • 107% YoY revenue growth in 2023 with $80M Series E funding accelerates market expansion[2]
  • Strategic partnerships with Booking, Ryanair, Priceline, and SECUTIX drive attachment rates and customer loyalty[3]
  • BrightWrite analytics layer enables real-time price optimization and product recommendations for partners[1]

What critics are saying

  • Amadeus native embedded insurance module locks in corporate travel partners, bypassing Cover Genius API[4]
  • Intuit-Corvus cyber insurance partnership erodes fintech client market share within 12-18 months[4]
  • Travel sector recession post-2025 reduces Booking and Ryanair embedded insurance budgets significantly[4]

What makes Cover Genius unique

  • Embedded insurance at point-of-sale across 60+ countries reduces friction versus traditional insurance distribution[1]
  • XClaim platform enables instant claims payments in 90+ currencies, addressing industry trust gaps[1]
  • 120M+ policies sold protecting 41M customers via single API integration for e-commerce and travel platforms[1]

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Funding

Total Funding

$244M

Meets

Industry Average

Funded Over

7 Rounds

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.
Series E Funding Comparison
Below Average

Industry standards

$100M
$245M
Stripe
$250M
Reddit
$1.3B
Epic Games
$1.5B
Airbnb

Benefits

Flexible working conditions

Employee stock options

Ongoing learning

Paid parental leave

Wellness initiatives

#WFH when you want

Peer bonuses and founder awards program

International working opportunities

GC Gives giveback program, led by the team

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-3%

2 year growth

-1%
Ezy Travel Hub
Dec 19th, 2025
Cover Genius raises $70M Series D for embedded insurance platform serving Booking Holdings and Ryanair

Cover Genius, an insurtech company providing embedded insurance solutions to clients including Booking Holdings, Hopper and Ryanair, has raised $70 million in a Series D round led by Dawn Capital. New York-based Atlas Merchant Capital joined as a new investor, alongside existing backers GSquared and King River Capital. The oversubscribed round represents a significant valuation increase from its 2021 Series C. Since then, Cover Genius has reached $1.1 million in daily gross written premium and nearly tripled its year-over-year revenue. The company offers embedded insurance products across multiple verticals, including travel, retail, financial services and real estate. Its platform is licensed in over 60 countries and all 50 US states, delivering a post-claim Net Promoter Score of +65.

FF News
Apr 25th, 2025
Secutix And Cover Genius Launch New Ticket Protection Partnership

SECUTIX, a market leader in advanced digital solutions for the event industry, today announced the launch of a new ticket protection partnership with Cover Genius, a leading global insurtech for embedded protection.SECUTIX customers can now leverage a new ticket protection solution powered by Cover Genius’ award-winning technology. This user-friendly innovation will provide venue and event businesses worldwide with an easy and automated refund process, significantly improving ticket buyers’ confidence when booking.Ticketholders opting for ticket protection will benefit from a clear refund policy, covering them if they unexpectedly can’t make an event, for example, in cases of illness, injury, or other circumstances. The offering is designed to encourage customer loyalty as buyers are more likely to book tickets when flexible protection options are available.The partnership follows a successful pilot with SECUTIX client, Silverstone, at the British Grand Prix 2024, demonstrating the effectiveness of providing streamlined ticket protection in the booking journey.Marc Mazzariol, SECUTIX Senior Vice President of Technology, said: “Through our partnership with Cover Genius, we’re expanding our offer beyond ticketing operations. In recent years, the demand for ticket protection has grown, especially post-COVID, as event organisers and venues seek to provide fans with peace of mind. Cover Genius is the ideal partner due to its global compliance, which removes regulatory complexities for our clients, and its commitment to continuous innovation, allowing us to add new features to the platform.”“Our global award-winning technology not only ensures ticket buyers can easily access refund options, but also equips event organizers with the tools to handle refunds smoothly and increase customer satisfaction.” said Kyle Keogh, Chief Business Officer at Cover GeniusKyle Keogh, Chief Business Officer at Cover Genius, added: “Live events are booming and across the ticketing industry we’re seeing demand for protection options that provide customers with the flexibility to purchase tickets early, knowing their investment is safe if they’re unexpectedly unable to attend. We are thrilled to partner with SECUTIX to bring industry-leading protection to their customers

FF News
Apr 10th, 2025
Luxury Escapes And Cover Genius Expand Global Partnership To Provide Enhanced Travel Protection And Launch New ‘Cancellation Protection’ Coverage

Luxury Escapes, a leading Australian exclusive travel provider, and Cover Genius, a leader in embedded protection, have expanded their longstanding partnership with the launch of Cancellation Protection, a new protection product available for Australian and New Zealand customers booking domestic travel, as well as for international travellers worldwide.The partnership extension brings additional peace of mind to customers travelling from Europe, North America, the Middle East and Asia with cancellation protection backed by a seamless claims process, reinforcing both companies’ commitment to offering a superior experience for customers.This protection provides a 100% refund for cancellations due to unforeseen events including but not limited to: sickness, accident, injury, pre-existing medical conditions, flight disruption, adverse weather, theft of documents, transport failure, home emergencies, professional obligations, workplace redundancy and other unexpected events that may disrupt travel plans.Cover Genius’ embedded cancellation solution provides a seamless, customer-friendly experience for travellers booking through Luxury Escapes. Whether it’s for flights, hotels, or unique travel experiences, the protection ensures that customers are refunded swiftly and efficiently in almost any currency, protecting getaways and bucket-list moments.As part of this latest development, customers can now also purchase Cancellation Protection from within the Luxury Escapes app as well as on the website or through the call centre, making the travel booking experience even simpler regardless of how customers make their booking, building on the protection offering previously available for customers travelling from Australia, New Zealand and Singapore.Cover Genius is a trusted protection, compliance and regulatory partner for major digital brands worldwide, offering global reach with licenses or authorisations in over 60 countries and the ability to co-create tailored protection solutions for customers. As a reliable partner for insurers and underwriters, Cover Genius enables its partners to access key markets and expand their customer base across the globe.“This expansion reflects our ongoing dedication to providing our customers with a reliable, one-stop-shop for all their travel protection needs,” said Luxury Escapes CEO and Co-Founder Adam Schwab. “With the addition of Cancellation Protection which now also covers experiences, we’re offering even greater flexibility and protection to travellers, ensuring they can book with confidence, no matter their destination.”“We are proud to continue our strong partnership with Luxury Escapes, expanding our protection services to more regions as they continue to grow worldwide,” said Angus McDonald, CEO and Co-founder of Cover Genius.“Globally, we are seeing customers shift towards protection solutions tailored to their specific needs and demographics, rather than traditional bundled offerings. By integrating these solutions into the online and app-based Luxury Escapes booking journey, we’re making it easier for customers to confidently choose the right travel protection and tick cancellation coverage off their pre-travel to-do list.”This milestone marks another significant step in the collaboration between the two companies, which has been expanding over several years. With a shared vision of delivering superior value to customers, this partnership continues to evolve, providing more tailored and accessible protection options across a growing list of destinations and experiences

PhocusWire
Jul 19th, 2024
Phocuswire'S Weekly Travel Tech News Briefs: Amadeus, Sabre, Air Canada, Priceline, Cwt And More

Here's our roundup of the people, product and partner news from the global travel industry this week.HRS, AmadeusHRS, a global technology company, has announced the extension of its partnership with Amadeus Cytric, a platform that provides end-to-end solutions for corporate travel and expense.The announcement reflected on the highlights of the extended agreement, which included optimized property shopping, automated hotel rebooking, driving the use of more sustainable hotels and automated payment and invoice collection.Tobias Ragge, CEO of HRS said, “By unlocking new data-infused avenues to optimize program performance, maximize savings and enhance sustainable travel operations, we’re working together to make business life better for corporations and their travelers.”Read more details here.Sabre, Air CanadaSabre, a software and technology provider that powers the global travel industry, and Air Canada, Canada’s largest airline, have announced that Air Canada’s full content will now be available through Sabre NDC.This launch is said to empower travel agencies to consume Air Canada’s expanded new distribution capability offers and services, which will enable them to provide personalized travel experiences to their customers.Kathy Morgan, vice president of product management distribution experience for Sabre said, “Our robust technology ensures scalability, allowing agents to seamlessly access Air Canada's latest pricing and bundled offerings without compromising service levels. Additionally, our comprehensive end-to-end booking management streamlines the process, reducing the burden on agency resources.”Priceline, Cover GeniusPriceline, an innovator of online travel, and Cover Genius, the insurtech for embedded protection, have announced a partnership to enhance travel protection for any flights, hotels, rental cars and packages booked with Priceline.This new integration allows Priceline’s customers to access support, file claims and receive instant payments for approved claims through Cover Genius’ global distribution platform, XCover.Angus McDonald, CEO and co-founder of Cover Genius, said, “We avoid ‘off-the-shelf’ offerings and build technology-driven solutions that we constantly test and iterate for the best possible insurance experience. This helps develop meaningful touchpoints with customers and drives additional revenue for our partners. In fact, after launching with us, Priceline saw an increase in insurance attach rates.”Read more details here.Nezasa updatesNezasa, a leading provider of e-commerce solutions for travel brands, has announced a partnership with Globespan, an industry leader in travel management.Globespan will integrate Nezasa’s TripBuilder platform into its channels, which will allow them to curate personalized experiences for their members and provide a leisure benefit site that offers discounted content and product offerings.In addition to their developments, Nezasa has announced the appointment of Lisa Katsouraki to the board of directors, who will continue to strengthen the company’s mission to empower travel providers with tools to sell itineraries efficiently while driving growth and enabling them to streamline operations.LATA, Safer Tourism FoundationThe Latin American Tourism Association (LATA) has partnered with the Safer Tourism Foundation as part of a strategy to promote traveler safety. Through the partnership, LATA will access STF's expertise and content, which is based on anonymized safety incident data. The data helps travel specialists understand, boost awareness of and minimize risk around preventable harm, injuries, illnesses and deaths while traveling.SITA, Heathrow AirportAviation technology specialist SITA has extended its partnership with Heathrow Airport for a further five years

PYMNTS
Jul 7th, 2024
Autorek And J.P. Morgan Payments Partner On Insurance Company Receivables

InsurTech firm AutoRek has partnered with J.P. Morgan Payments to help insurance companies overcome data challenges with a more connected, streamlined infrastructure. With these capabilities, insurance companies can unlock new market opportunities, the companies said in a press release. “By working together, we will unlock many opportunities for insurance firms to streamline the premium receivables process,” Piers Williams, global insurance lead at AutoRek, said in the release. “This will help them to increase efficiency, accelerate cash flow, reduce write-offs and enhance controls.”

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