Genasys

About Genasys

Genasys provides a comprehensive, full-cycle insurance policy administration system designed for insurers, Managing General Agents (MGAs), and brokers. The company was founded in 1997 by Steve Symes in Cape Town, South Africa, starting from his garage. His vision was to create a customer-centric administration system, which led to the company's first software product in 2001, initially named "Customer of One" and later relaunched as SKi® (Software Key to Insurance) in 2006. Steve Symes' son, André Symes, who had been involved in growing tech businesses since college, joined the company and, alongside Craig Olivier, was instrumental in its expansion. In 2021, Steve Symes transitioned to the role of Chairman, appointing André Symes and Craig Olivier as joint CEOs to lead the company's next growth phase.

The company's core offering is a cloud-based, no-code platform that streamlines policy, claims, and billing functions. It operates on a consumption-based, "pay-as-you-use" business model, allowing clients to select from various modules without purchasing a full, expensive package. This modular architecture supports diverse product lines, including personal, commercial, life, and medical insurance. The platform's open API architecture facilitates extensive connectivity and integration with third-party applications, a key feature for clients looking to build a flexible tech ecosystem. Genasys serves a global client base across Africa, North America, Oceania, and the UK, managing a gross written premium of over £1.5 billion. Its target market includes both modern insurtech startups and established insurance carriers seeking to modernize their legacy systems.

Key milestones for Genasys include landing its first UK client in 2005, opening a major office in Johannesburg in 2006, and expanding internationally with a London office in 2018. In 2021, the company secured a significant £12.25 million investment from Frog Capital to accelerate its global expansion. The firm has also focused on enhancing its platform's capabilities through partnerships, such as integrating with QRater to handle high volumes of quotes from price comparison websites and with Flowgear to enable no-code, drag-and-drop integrations. To support its growth and innovation, Genasys opened a new Product and Innovation Campus in Stellenbosch, South Africa, in 2023.