Event: 2019 Phocuswright Conference
Product: XCover, XClaim
Category: Established Company
HQ: Sydney, Australia
Principal(s): Angus McDonald, Co-Founder & Chief Executive Officer; Chris Bayley, Co-Founder & Chief Innovation Officer
Funding: Seed and Series A were funded by U.K. insurance executives. The team has grown to 120 globally.
Product Description: Cover Genius' XCover distribution platform provides coverage for any line of insurance in any country, language and currency. Millions of happy customers are protected with policies that are customer-centric with product recommendations tailored to individual needs. XClaim, our API for instant payment of approved claims, delivers an NPS of +65. XClaim executes thousands of bank transfers per month into 90+ currencies in a variety of payment methods.
Business Model: Our business model is B2B.
Competitors: Traditional global insurers.
Competitive Edge: Cover Genius' award-winning technologies include: XCover, a distribution platform providing coverage for any line of insurance in any country, language and currency; and XClaim, an API for real-time payment of approved claims, handling instant payments in 90+ currencies globally.
Market Opportunity: Cover Genius’ global insurance distribution platform lets companies across the world boost profits and peace of mind by offering tailored insurance to their customers, with a seamless experience at every stage. Cover Genius partners with companies such as Booking Holdings, Etraveli and ShipStation in a variety of industries including retail, payments, logistics, mobility and auto, travel, property, fintech and gig-economy.
Early Customers: Booking Holdings, parent company of Booking.com.
Contact: Patrick Young, VP/Head of Travel Partnerships - The Americas; +1 908-329-7865