04 Apr 24

Empowering retail experiences: Ingenico partners with Cover Genius to bring embedded insurance in-store

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As the world becomes increasingly digital, consumers are looking for seamless and intuitive experiences both online and offline, and insurance is no exception. Today, through Ingenico’s Android solutions, products like embedded protection can be made available to customers directly at the point of purchase. In partnership with Cover Genius - the global insurtech for embedded protection - warranty, insurance or other protection solutions can be easily integrated into the in-store customer experience. The move means merchants can now offer the right protection solutions at the right place and time, meaning new revenue streams, increased transaction values, and an overall improved level of service.

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At Paytech 2024, we spoke with Zina Wendlandt, VP of Strategic Partnerships at Cover Genius, who provided further insight.


The evolving commerce ecosystem

Zina, how do you perceive the current state of commerce, and what trends are reshaping the payments industry?

The commerce landscape is undergoing a profound transformation, with digital channels experiencing unprecedented growth. However, contrary to predictions of the demise of brick-and-mortar stores, there remains a resilient demand for in-person shopping experiences. This shift underscores the need for the seamless integration of physical and digital realms, where consumers expect a unified experience across all touchpoints.

Cover Genius: pioneering embedded protection

Could you delve deeper into the genesis of Cover Genius and the inspiration behind developing such an innovative insurtech?

Cover Genius was born out of a pressing need for a global solution to efficiently distribute protection products. Co-founders Chris Bayley and Angus McDonald identified two critical challenges: fragmented distribution channels and complex market requirements. This realisation led to the inception of Cover Genius, with a mission to streamline the distribution of insurance products on a global scale. 

We are uniquely positioned as an insurtech with global end-to-end capabilities. This means that we can bring a solution to market for a partner, from any industry, who wants to protect its global customer with any line of protection or warranty – regardless of their country, language or currency.

Meeting consumer expectations with embedded insurance

How does your insurtech address the evolving needs of partners and consumers, and what specific pain points does it alleviate?

At Cover Genius, we recognise that today's consumers seek speed and convenience in their interactions, including insurance purchases. Embedded insurance offers a solution to this demand by integrating protection seamlessly into the customer journey. By eliminating the need for customers to seek out insurance separately, we address a key pain point and enhance the overall shopping experience.

Strategic collaboration with Ingenico

Could you elaborate on your partnership with Ingenico and the synergies that have emerged from this collaboration?

Our partnership with Ingenico represents a significant milestone in our mission to revolutionise retail experiences. By leveraging Ingenico's leading Android technology, we empower merchants to offer value-added services directly at the point of sale. This integration not only enhances the customer experience but also streamlines operations for merchants, creating a win-win scenario for all stakeholders involved.

Anticipating future trends in consumer behaviour

How do you foresee behaviour evolving in the consumer and insurance space in the coming years?

The future will be characterised by a heightened focus on convenience, personalisation and protection. As consumers become increasingly digitally savvy, they expect tailored solutions that meet their unique needs, seamlessly. Insurtechs play a pivotal role in meeting these evolving demands by leveraging technology to offer innovative solutions.





Corporate Publication

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