Insurtech Cover Genius raises £8.3m in funding

Cover Genius has raised £8.3m in funding to expand its partnerships with online companies looking to provide insurance solutions to customers at the point of sale.

CEO Angus McDonald said: “Customers want to protect their purchases, big or small, and given the option many will take insurance cover at the point of sale from their favourite online brands.

“The confidence this gives customers is driving an increase in purchase volume with 32% of customers happy to buy and spend more if offered insurance. Our partners are certainly ahead of the curve and can see the value of insurance not only to their customers, but also their business.”

The latest funding round, led by King River Capital, and supplemented by a loan from Leap Capital, is aimed at supporting integrations with technology and e-commerce firms globally.

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