Berlin Insurtech Friendsurance Joins Cover Genius
Cover Genius, a global player in embedded protection, announced on July 28 that it has acquired Friendsurance, the Berlin-based digital bancassurance platform, according to the company's press release. Financial details were not disclosed, and the deal took effect immediately.
Founded over a decade ago, Friendsurance built its name by helping banks and insurers offer smoother, more modern protection products despite tricky compliance and legacy tech hurdles. That expertise, especially around PSD2 open banking rules and German data protection requirements, is exactly what Cover Genius says it was after.
Cover Genius CEO Angus McDonald said European banks are under growing pressure to move past old school cross selling and offer protection that fits naturally into everyday banking. He called the DACH region one of the most promising growth areas for embedded protection right now.
Friendsurance co-founder and CEO Tim Kunde said the company set out to solve a clear problem: banks want modern, customer-friendly insurance, but outdated systems and compliance headaches get in the way. Joining Cover Genius, he said, gives the Berlin team the scale to push that mission further.
The Friendsurance team will now become part of Cover Genius, giving partner banks access to a wider set of protection tools built on a compliance-ready foundation. Cover Genius already works with names like Klarna, Uber and Booking.com, and has protected more than 73 million customers worldwide.
For Berlin's insurtech ecosystem, the acquisition is another sign that homegrown fintech expertise is drawing serious international attention.
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