Insurance software solutions provider Genasys celebrates 25 years in business as it reflects on its commitment to challenge the insurance industry to put customers first and banish tech hype.
Starting from a conversation across a kitchen table in 1997 and operating initially from founder Steve Symes’s garage in Cape Town, Genasys is now a leading insurtech provider supporting clients across 23 countries in Africa, North America, Oceania, LatAm and the UK to manage a gross written premium of over £1.5 billion.
From ahead-of-the-curve start-ups supporting next-gen consumers, to industry heritage brands wanting to realise their digital capabilities, Genasys’ diverse range of clients are united by their ethos to positively change the consumer view of insurance through an enhanced user experience.
André Symes, co-CEO of Genasys, says: “We’ve always seen ourselves as a challenger brand and we’re proud of our ‘disruptor’ status – but we’re equally proud that we’re now regarded as one of the leading core tech players in insurance. Our approach is simple: we want to make insurance policies accessible to everyone and we partner with businesses who share our vision.
“We cut through the hype by simplifying technology and by making it clear that you don’t need a complex, costly and time-consuming digital ‘transformation’ journey – we’re all about enabling our partners to evolve their technology, while succeeding fast on the customer experience.”
An organisation proud of its South African heritage and its entry into global markets, the company now calls three cities home, having opened the first international Genasys branch in London in 2018 – where Symes is now based. While his co-CEO Craig Olivier is on the other side of the equator, running the offices in Johannesburg and Cape Town, their working relationship is anything but remote. Together, they lead a team of 110 (and counting!) across the UK and South African bases, supporting insurance business of all sizes to realise their digital aspirations, evolving at a pace that suits their needs.
Craig Olivier, co-CEO of Genasys, says: “Our entire Genasys business is built on the firm foundation of building trust in all our relationships: with our people and our partners. We’re focused on getting it right and being a genuine partner.
“After 25 years in business we have a depth of knowledge that means that what we deliver works for insurance businesses because we understand their needs and speak their language.”
Genasys’ cloud-based platform provides a depth of functionality and configurable architecture to ensure insurance businesses can bring about innovation and quickly deliver new products to their rapidly evolving consumer base. The company’s status as a recognised industry player was confirmed by the recent investment in 2021 from Frog Capital, the leading software scale-up investor, which represented the largest investment ever into a South African-founded insurtech business.
Symes concludes: “As we look to the next 25 years, we’re focused on how we scale and grow at a controlled pace, continuing to do what we do and continuing to do it well. The priorities are the same as they were back when we were first building the Genasys platform. Some things never change – and some things never should.”