Cover Genius bags high-growth recognition

Cover Genius bags high-growth recognition | Insurance Business Australia

Cover Genius bags high-growth recognition

Global insurtech Cover Genius has emerged on top of FT1000, a listing of companies in the Asia-Pacific region with a high growth between 2015 and 2018, which was released on Tuesday.

Compiled by research company Statista on behalf of the Financial Times, the ranking sees Cover Genius outdo its peers with its compound annual growth rate in revenues of 493% in the period. According to the publication, the Australian business generated revenues of AU$91 million in 2018.

Cover Genius has offices in New York, San Francisco, London, Amsterdam, Tokyo, Singapore, Seoul, Kuala Lumpur, Manila, and Sydney. It was founded in 2014 by chief innovation officer Chris Bayley and chief executive Angus McDonald.

“We are cash flow-positive and have always been pretty lean,” Bayley told the Financial Times. “We figure, at the end of this [coronavirus] crisis, the strongest companies remain.”