Digital insurer Cover Genius will provide auto dealerships with the ability to offer insurance policies at the point-of-sale, following a new partnership with dealer management software startup AutoMatrix.
By working together, dealerships will be able to integrate insurance and warranty packages into the car buying process, all of which can be tailored in real-time to meet buyer needs. Cover Genius will be the exclusive insurance and warranty platform used by AutoMatrix.
The InsurTech company helps auto and mobility companies, and those in other verticals, to offer flexible and personalized policies to protect their customers. Its API-based products can be integrated with existing technology and are used in over 60 countries.
Cover Genius co-founder and CEO Angus McDonald said “Traditionally, purchasing insurance has been a major hassle for customers who are buying a car, requiring them to undergo a tedious process — either within the dealership or as a separate offline effort — for ‘one size fits all’ coverages that don’t meet their unique needs.
“Having made significant strides to enable ecommerce companies to distribute insurance globally, including retail, travel and logistics, our partnership with AutoMatrix is an exciting next step in expanding our presence in the U.S. automotive and mobility market where we have insured 2 million customers in the last three years.
Last year, Cover Genius scored $10m in a Series B round to support its expansion across the UK, US and into Asia.
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