Acquisition unites global embedded protection leader with German insurtech to deliver regulatory-ready, data-driven bancassurance infrastructure for DACH financial institutions

Cover Genius, the global infrastructure for embedded protection, today announced its acquisition of Friendsurance, the Berlin-based insurtech and digital bancassurance platform for banks and insurers. The transaction establishes a powerhouse in European digital insurance distribution, combining Cover Genius’s market-leading global infrastructure with Friendsurance's deep local regulatory expertise and bank-grade technology.

"European banking represents one of the highest-conviction growth opportunities in embedded protection," said Angus McDonald, CEO and Co-founder of Cover Genius. "Banks across the DACH region are under pressure to move beyond legacy cross-selling and deliver protection that integrates into their customers' daily financial lives. Friendsurance has spent over a decade building the technology, the deep bank networks, and the institutional compliance required to make that possible. Together, we can offer European banking partners a clear advantage: a protection layer that is already compliant, highly optimized, and proven to drive platform yield."

By uniting Cover Genius’s global reach with Friendsurance's specialized European technology hub, the transaction accelerates a market-wide shift toward Bancassurance 2.0, equipping banks across the DACH region with an intelligent, compliant protection infrastructure that unlocks resilient, non-interest revenue streams. To deliver on this vision, the Friendsurance team is joining Cover Genius, allowing existing and prospective partners to seamlessly access an expanded suite of protection solutions. Chief among these capabilities is a proven architecture incorporating PSD2 open banking rails and a framework designed to navigate regional GDPR (DSGVO) requirements. This localized architecture helps neutralize the complex regional regulatory landscapes that typically stall digital product rollouts for traditional banks and fintechs.

"We built Friendsurance to solve a clear friction point. Banks want to offer modern, customer-centric protection, but legacy infrastructure and compliance make it incredibly difficult," explained Tim Kunde, Co-Founder and CEO of Friendsurance. "By joining the Cover Genius team, our people and our technology gain the global scale and resources needed to truly transform the market. We are incredibly excited to deliver a unified, world-class experience to European financial institutions."

The acquisition is effective immediately. Financial terms of the transaction have not been disclosed.

About Cover Genius

Cover Genius is the global infrastructure for embedded protection. Active in over 60 countries and all 50 US States, it protects the customers of the world’s largest digital companies, including Klarna, Revolut, Stripe, Priceline, Agoda, Booking.com, Turkish Airlines, Tongcheng Travel, eBay, and Uber, with seamless, end-to-end experiences. Cover Genius has protected more than 70M customers globally across 240M policies with USD $3.2BN in gross written sales.

About Friendsurance

Friendsurance is the Berlin-based insurtech powering digital bancassurance for the European market. Working with leading financial institutions and insurance companies, its technology enables insurance to be embedded seamlessly into the banking experience while helping insurers scale digital distribution.

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