Cover Genius Expands in Europe with Friendsurance Deal

The Friendsurance team will join Cover Genius. Existing and prospective customers gain access to the combined group's protection products and infrastructure.

Cover Genius said the acquisition supports what it calls 'Bancassurance 2.0,' where insurance products are integrated into digital banking platforms rather than distributed through traditional cross-selling.

'We built Friendsurance to solve a clear friction point. Banks want to offer modern, customer-centric protection, but legacy infrastructure and compliance make it difficult,' Friendsurance co-founder and CEO Tim Kunde said. By joining Cover Genius, the technology and team gain global scale and resources to transform the market.

The transaction adds a European technology and regulatory hub to Cover Genius, which operates in more than 60 countries and all 50 U.S. states. Cover Genius has protected more than 73 million customers through 240 million policies and generated $3.2 billion in gross written sales.

Friendsurance works with financial institutions and insurers in Europe, providing technology for embedding insurance into banking services.