US insurtech firm Cover Genius has acquired Booking Protect, a specialist in embedded ticket protection for ticket sellers, platforms and live event companies.
The acquisition will give UK-founded Booking Protect’s 350+ partners and its clients the ability to offer embedded ticket protection worldwide through XCover, Cover Genius’s end-to-end global distribution platform.
Angus McDonald, chief executive officer and co-founder of Cover Genius, said: “It’s a natural fit for us to team up with established leaders in specialty fields like ticketing who have built a great service and end-to-end solution at the expense of traditional insurers whose legacy systems contribute to poor customer outcomes and stunted growth for partners.”
Simon Mabb, chief executive officer at Booking Protect, added: “We started Booking Protect to provide peace of mind to customers who are buying tickets via sellers and events and their upstream ticketing platforms, especially small-to-midsize players.”
“With the pandemic exposing the need for comprehensive coverage, we believe that now is the time to join forces with Cover Genius to scale our technologies and expand the reach of our mission. We look forward to continuing to serve our partners and help businesses provide a seamless customer experience in their time of need.”