Cover Genius

Our CEO, Angus McDonald, sat down with Axios' Lucinda Shen to discuss our Series E funding round and Cover Genius' success creating tailored protection solutions for brands across industries. Be sure to check the exclusive coverage 🎉

We’re thrilled to announce that we’ve raised $80M in Series E funding! 🚀 This latest funding round was led by Spark Capital with support from existing investors Dawn Capital, King River Capital and G Squared. The investment highlights the strength of our embedded business model and will accelerate our investment in new technology to improve and expand the protection solutions available on our platform. As we continue to grow, we remain steadfast in our mission to protect the customers of the world’s largest digital companies with solutions backed by technology, policy innovation, and industry expertise. Learn more about the news below:

When considering protection for future purchases, consumers want to safeguard high-value items and mitigate the risks associated with product defects, damage, or loss. According to our recently published Retail Protection Report, the top three categories consumers prioritize for product protection are Personal Electronics (65%), Home Appliances (52%), and Luxury Goods (34%). Read our latest Retail Protection Report to learn more. https://hubs.ly/Q02wCmP70

Catawiki, the leading online marketplace for special objects, partnered with us to offer an end-to-end protection solution directly to their sellers that helps mitigate shipping risks. By integrating XCover, our award-winning global distribution platform, Catawiki’s sellers can benefit from seamlessly embedded protection and a hands-off approach to any complicated claims procedures. The carrier-agnostic protection supports all types of packages shipped, both domestically and internationally. It also removes barriers and friction for EU-based sellers, thereby helping increase customer loyalty. Watch our latest demo to learn more. 👇 #logistics #ecommerce #embeddedprotection

Many retailers offer their customers a basic extended warranty, but to increase sales brands should add additional features to their protection programs. According to data recently collected by Cover Genius, a combination of coverage options (e.g. shipping protection, accidental damage, return protection, etc.) would increase 60% of consumers’ likelihood of adding product protection to their purchase. For retailers, this presents opportunities to reduce cart abandonment rates, maximize customer lifetime value and increase conversions. Read our latest Retail Protection Report for more information. https://hubs.lu/Q02tyHFt0

Consumers not only want product protection from their favorite brands, but they’re also willing to pay an extra 21% to secure it, according to data collected by Cover Genius. This presents an opportunity for brands to meet customer needs and increase revenue per transaction simply by offering the right protection at the right time. For more insights, check out our latest Retail Protection Report: https://hubs.ly/Q02tyG6C0

In celebration of #EarthDay, our office-based and remote employees participated in a Genius Giving Day focused on cleaning our local waterways. Many of our offices are located near rivers, canals and the ocean itself, so we all came together to help improve the marine environments we hold dear. 🌊🌍♻️ As part of our commitment to environmental stewardship beyond Earth Day, CG Gives - the charitable arm of our organization - proudly supports The Ocean Cleanup a non-profit dedicated to developing advanced technologies to rid the oceans of plastic. Check out highlights from our Earth Day initiatives around the world!

Findings from our Retail Protection Report reveal consumers overwhelmingly prefer to purchase product protection from their favorite brands. 76% of respondents are interested in receiving protection offers within the checkout and post-purchase journey, signifying an opportunity for brands to meet consumer demands for peace of mind with tailored protection offers. For more insights, check out the full global report:

Easol and Cover Genius are now working together to offer UK and US customers missed event protection directly in their checkout journey. Booking an experience can be expensive and the thought of not being able to attend due to unforeseen circumstances can be stressful. As such, customers can request a refund directly online through the XCover distribution platform. Cover Genius manages the end-to-end claims process if things go wrong - which may encourage more conversions. 🎟️Click below for more details.🖱️

Joseph Calnan is speaking at TheTicketingBusiness Forum in Manchester (UK) on April 16, 2024. He’ll discuss how event goers may second-guess their commitment to live events - based on a number of reasons - when they go to buy their tickets. Ticketing partners and venues can help remove this “what if” hesitation by offering protection embedded directly in the purchase journey, helping to increase core conversions. Join his session to learn more! #ticketing #TBF24 #ticketingbiz