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Cover Genius buys Friendsurance to expand embedded protection in DACH
The deal combines Cover Genius’s embedded protection infrastructure with Friendsurance’s Berlin-based technology and DACH regulatory expertise to support bank-grade bancassurance rollouts.
Cover Genius, an infrastructure provider for embedded protection, has acquired Friendsurance, a Berlin-based insurtech and digital bancassurance platform used by insurers and banks. The companies said the transaction is intended to bring Cover Genius’s global infrastructure together with Friendsurance’s local regulatory know-how and bank-grade technology.
Cover Genius said the combined platform will be aimed at financial institutions across the DACH region, focused on delivering regulatory-ready, data-driven bancassurance infrastructure that is designed to be compliant and optimized. The firm framed embedded protection as a shift away from legacy cross-selling and toward protection products integrated into customers’ day-to-day financial lives.
A key part of the architecture discussed in the announcement incorporates PSD2 open banking rails and a framework built to navigate regional GDPR (DSGVO) requirements. Cover Genius said the localized design is intended to help partners mitigate complex DACH regulatory hurdles that can stall digital product rollouts for banks and fintechs.
As part of the integration, the Friendsurance team will join Cover Genius, and the firms said partners will get frictionless access to a broader range of protection offerings. Reinsurance News said the move supports an ongoing market-wide push toward Bancassurance 2.0 and the creation of non-interest revenue streams through an “intelligent, compliant protection infrastructure.”