Fast-growing insurtech Cover Genius believes it can expand further as more consumers buy insurance via e-commerce websites.

As the trend accelerates, so will demand from consumers and digital retailers for technology solutions that make it easy to complete transactions, it says.

This is where the Sydney-based insurtech says it has the edge.

“Insurance is never going to be a fun purchase,” Head of Insurance Asia-Pacific Chris Toft told insuranceNEWS.com.au. “It’s never something customers want to do, but if we can integrate insurance transactions into our everyday transactions so people can buy them in a painless, frictionless way, then we are really adding value to customers.

“We are an end-to-end digital insurance distribution platform that enables e-commerce players to sell insurance online. People have been able to buy insurance for some time now – we just think we can make this a much better experience.

“In terms of going forward, we are a global company and the sky’s the limit so to speak, and we really think there is a huge opportunity here.”

Cover Genius has enjoyed huge success since it started in 2014.

Booking Holdings, the parent company of the global travel aggregator, picked the insurtech to deliver policy documentation and handle claims distribution in 2016.

Last year Cover Genius launched an instant payments platform capable of supporting transactions in more than 90 currencies. The platform allows customers to receive real-time bank transfers and store credits, and make e-wallet payments.

“We are using technology smartly to deliver better outcomes,” Mr Toft said. “Our solutions are global solutions.

“We have set ourselves up so we can service any e-commerce players in the world and we can service them with our global solutions.”