Cover Genius
Cover Genius is a global insurtech company specializing in embedded protection through its XCover distribution platform and XClaim payments API.
Secondary Market Price
How Cover Genius Measures Up
To help you manage your Cover Genius equity, Prospect has run the company through our machine learning model.
Prospect Rating
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This rating reflects our belief in this company's potential to grow to that many times its current value in 4 years. For an employee with stock, this rating suggests a potential return on equity, but it also comes with some risk.
Exit Risk
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Our rating is a reflection of the likelihood of this company achieving a liquidity event for its employees based on the quality of investors, funding stage, founders, and more.
Funding Stage
Series E
A company’s funding stage reflects how established it is, how quickly it is scaling, and the average impact an employee may have when joining.
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Prospect Projected Future Cover Genius Prices
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Company Description
Cover Genius is a global insurance technology company that specializes in embedded protection. Through its XCover distribution platform and XClaim API for claims processing, the company enables digital businesses to integrate and offer various lines of insurance to their customers. It is licensed or authorized to operate in over 60 countries and all 50 U.S. states. Founded in 2014 by Angus McDonald and Chris Bayley, the company has grown to between 501 and 1,000 employees with a global presence that includes offices in New York, Sydney, London, and Tokyo.
The company's recent activities indicate a focus on strategic partnerships and technological innovation. Cover Genius has partnered with Turkish Airlines to expand travel protection, with SECUTIX to offer ticket protection for events, and with TAL Australia to launch an embedded life insurance product aimed at underinsured workers. A key focus for the company is the application of AI in claims processing and creating personalized insurance offerings, a topic frequently addressed in articles by its leadership team. In June 2024, Cover Genius closed a Series E funding round, raising $80 million.
- Spark Capital
- Dawn Capital
- King River Capital
- G Squared
- Sompo Holdings Asia
- Atlas Merchant Capital
- Co-Founder, Angus McDonald
- Co-Founder, Chris Bayley
Peer Group Comparison
Vs Peer Group of >$4B Startups
Frequently Asked Questions
Joining Anduril as an employee is another way to acquire equity, typically through stock options included in compensation packages.
Is Cover Genius worth joining?
Evaluating an offer from a private company like Cover Genius requires a close look at the equity package. Platforms like Prospect can help you understand the potential future value of your stock options or RSUs to make a more informed career decision.
What should I do with my Cover Genius stock?
Deciding what to do with your private company stock requires a personalized strategy based on your financial goals and the company's outlook. Prospect provides customized option exercise and stock sale strategies to help you maximize your equity's value and minimize taxes.
Can you sell Cover Genius stock?
It is often possible to sell shares in a private company through events like tender offers or on secondary markets, though there may be restrictions. Prospect offers tender offer tools to help you decide how much to sell and which shares are the most tax-efficient to liquidate.
How can I find the value of my Cover Genius stock?
The value of private company stock is often based on its latest 409A valuation, but this may not reflect its full potential. To get a better estimate, Prospect uses predictive models trained on venture capital data and secondary market prices to project your equity's future value.
What is Cover Genius's equity worth?
A private company's valuation is not public and fluctuates based on factors like funding rounds and business performance. You can use a platform like Prospect to model various financial scenarios and project what your specific equity holdings could be worth in the future.
What is Cover Genius's stock ticker symbol?
As a private company, Cover Genius does not have a stock ticker symbol because its shares are not traded on a public stock exchange. A ticker symbol will only be assigned if and when the company completes an Initial Public Offering (IPO).
Can I buy or sell Cover Genius stock?
Buying stock in a private company typically involves exercising vested options, while selling can happen through secondary markets or tender offers. Platforms like Prospect provide customized strategies to help you decide the best time to exercise or sell based on your financial situation and tax implications.
What is the criteria to buy or invest in Cover Genius stock?
For employees, the primary way to acquire stock is by exercising vested equity grants from the company. For external investors, purchasing shares in a private company is generally limited to accredited investors who can participate in funding rounds or find sellers on secondary markets.
