Cover Genius Reviews

Updated 11 Jun 2020

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4.6
90%
Recommend to a Friend
100%
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Cover Genius CEO and Co-Founder Angus McDonald (no image)
Angus McDonald
10 Ratings
  1. COVID-19

    "Learning & development opportunities, exciting projects to scale a rapidly growing business/vertical, great mentorship"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Cover Genius full-time for less than a year

    Pros

    Fun opportunities to work on a broad spectrum of projects which push you outside of your comfort zone, allowing you to learn and thrive with the support of a talented, smart, and switched on team. Despite being here for less than a year, I have seen lots of internal staff get rewarded and promoted for their dedication and hard work. I have also seen staff have the option to relocate to or various global offices, which is great to see that the company supports employees gaining international experience. The managers and leaders have taken the time and effort to provide 1:1 mentorship and constructive feedback, which has contributed greatly to my development so far. Flexible working, with the option to work from home. During the COVID-19 pandemic, the business has supported us employees tremendously, ensuring we have the right equipment set up in our home offices, making sure we get our flu shots, as well as an extra 3 weeks of annual leave dubbed as "Wellness Days" to take the time to look after ourselves! The company also cares deeply for social causes, as shown through the CG Gives initiatives. We have worked on projects to help the Australians affected by the January 2020 bushfires, COVID-19 relief for at-risk countries across Latin America, Africa and South East Asia, as well as education programs for women globally. It is great to be part of a company that values the duty to give back to the community.

    Cons

    As is typical to startup life, the work is dynamic and priorities are fast changing, which can be overwhelming for some. The team works to tight deadlines which extends beyond the 9-5 hours, but we all ensure we help each other out. There isn't a JD to abide by, so be prepared to work on projects out of your remit. At times it is difficult to discern what the proper processes are to follow / where to find this information - it would be great to have a central location for this and a clear context on when it is appropriate to follow these processes.

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  2. COVID-19

    "Huge Vision, Smart Strategy, Long Term Winner"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Manager in Sydney
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Cover Genius full-time for more than a year

    Pros

    -Generous, high powered stock options that, IMO, will one day help me pay for a down payment on a house 🏡 -Encouraged to work from global offices - NYC, London, Singapore, ect. This is especially beneficial for many of our staff who are not from Sydney. -Well respected FinTech brand. -Lots and lots of responsibility and impact at every level. Your work matters! -Casual atmosphere - In the Summer you can wear shorts, sandals, ect. -WFH flexibility -In the sweet spot of the startup lifecycle: already established profitable business model and scaling globally. The Founders have the vision and the business model, now it’s all about executing. -Super generous “Wellness Days” policy. As a result of the COVID-19 outbreak and to help protect employee wellbeing, they gave everyone in the company an extra 15 days to use this year at our discretion. This is on top of Annual Leave and we can use these days anyway we wish. -Transparent. There are a few comments on here about transparency, which is way off the mark to me. Weekly AMAs, monthly meetings with the CEO/CIO/CFO, basically an open door policy with the Founders, KPI dashboards that are shared widely, weekly performance reports for each team. -Long Term Mindset - The team is in it to win it and build a sustainable, long term company. -People/Learning - Learn from colleagues on the top of their game. Most of the Pros and Cons will be pretty similar to companies who have worked in similar types of companies: Pros- Most people

    Cons

    -Not a con, but be aware excellence is the standard. You don’t get brownie points for just hitting or even beating your KPIs. Be ready to work hard. This place is NOT for you if you are looking for a 9-5. -Like any startup/scaleup, you have to be comfortable with lots of ambiguity and change. -International teams in New York, London, Singapore, and many other offices, so you have to be ready to take early and late-night calls. -Like any VC backed startup, growth is the lifeblood of the company. Be prepared to be agile, and when new opportunities present themselves, management will pivot quickly. Projects you love might be dumped or put on hold because the ROI is better somewhere else. -Lots of complexity selling financial products into 60+ countries, so be prepared to deal with it. -People can get a bit stressed, especially when there is a lot going on with tight deadlines.

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  3. COVID-19

    "Fast growing company with legitimate vision and purpose."

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Manager in Sydney
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Cover Genius full-time for more than a year

    Pros

    Lots of opportunity to learn, challenge yourself and have your work make a tangible impact on the future of the company The company has a real vision and purpose that you can see in everything they do which is really unique. They don’t just fake it for the press like a lot of other companies. Excellent product suite and tech stack that has real substance and delivers on its promises. The founders and exec team are extremely transparent, more so than any other company I have worked in, which has been really important in the current environment. Truly collaborative global team who all work closely across regions, projects and functions. You really feel like it’s one team who are there to back you up when you need help. The founders and exec team have done an incredible job navigating the impacts of covid 19 and have put the company in a great position to grow and succeed over the next few years. Great benefits that help us stay fit and healthy, take days off to relax and recharge, support causes and charities that we care about via the CG Gives program and an extremely generous options program.

    Cons

    It’s fast paced and dynamic so be prepared to hustle and take on new projects quickly The company has ambitious goals so be ready to work hard and deliver on what you’ve been hired to do Global team so there are late and early calls with the US, Asia and Europe. The company encourages flexible working conditions though so it’s manageable

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  4. Helpful (1)

    "Great company, awesome people and lots of fun"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Engineer in Sydney
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Cover Genius full-time for more than 3 years

    Pros

    Really fun to work with a supportive team and brilliant people. Always exploring new ideas and pushing to be better each day. Good engineers and a good vibe. Good coaching and great mentors. Flexible working hours and health benefits.

    Cons

    Shifting priorities at times but does not really matter too much. We want more partnerships over time and want to be #1 in the insure tech space. We will get there.

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  5. Helpful (4)

    "Good place to work!"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Engineer 
    Recommends

    I have been working at Cover Genius full-time for less than a year

    Pros

    - Flexible work hours, friendly work environment and fun people - Tech talks every week - Good career growth potential - Health Benefit and paid parental leave

    Cons

    Don't have much. You need to be prepared that sometimes priorities of tasks need to be shifted, but this is understandable for a startup.

  6. Helpful (2)

    "Great start-up, huge opportunity in a bootstrapped profitable start-up"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous in Sydney
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Cover Genius full-time for more than a year

    Pros

    Having worked in both corporate and start-up environments, Cover Genius has by far been my favorite company to work for. - Great culture and work environment - Uniquely positioned to become a global behemoth in the Fintech/Insurtech space - Demonstrated history of profitability - Generous EOP (employee options) program - Highly ambitious vision and growth strategy with great traction and every reason to be bullish

    Cons

    Nothing out of the ordinary. Being a high growth venture the short-term priorities and goal posts can often change, but this is to be expected. The underlying vision and company objectives are very clear.

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  7. Helpful (2)

    "It’s Insurance based, but it’s Fun Insurance Company and not the traditional boring Insurance"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Recommends
    Positive Outlook
    No Opinion of CEO

    I have been working at Cover Genius

    Pros

    - For developers, there are lots of exciting new projects using latest tech stack. - Tech talks (knowledge sharing sessions) across engineering team - Tech allowances, certifications, tickets to conferences that you like - Awesome team members to collaborate with - More importantly, there’s flexibility in working hours (option to Work from home when you need that complete focus or take care of your family)

    Cons

    Don’t have much on the Cons side. However, we might have some tight deadlines to meet our stakeholders’ expectations at times but with helpful workmates around, you achieve pretty much anything...

  8. Helpful (6)

    "Fast growing but with many teething issues"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at Cover Genius

    Pros

    Really fun people on the floor, great teamwork and support from some colleagues.

    Cons

    Transactional leadership from certain leaders. Newer managers cannot manage upwards and are quite reactive to HIPPOs. The customer's voice is lost in translation, it's more about the Gross Written Premium and scaling the business based on an old business model, with many inherited leadership issues. Good talent has left because of the lack of transparency and autonomy.

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    Cover Genius Response

    October 7, 2019Co-Founder + Chief Innovation Officer

    Thanks for your review, feedback is always a gift! You made a great contribution and brought a lot of rigour to our content processes. It wasn't an easy undertaking and you excelled, hence you were recognized with a Founders Award, only the third team to receive the honour and 10th individual. The Award was given for the outcome of two significant redesigns of external customer services that led to an NPS of +65, which is the highest in the world for any insurance company. Given that turnaround I can't really agree with your statement about the customer's voice, although we accept that improvement is a continuum! Yours was the first "surprise" departure from the team in 1.5 years. We think that's a positive achievement given the team now exceeds 110; you may beg to differ but the good talent has indeed persevered. As I've said many times on Glassdoor and in our weekly AMA's, things never will be perfect, especially when being bootstrapped, but the best we can hope for is to be transparent about our imperfections and ambitions and hope that our org structure supports the growth of every team member by making their development a key part of every managerial conversation. We've evidently failed this test in your eyes and I take full responsibility for that, especially given I have executive oversight of your function. When I've sat on your side of the fence I've developed a lot of technical skills and business knowledge when reporting to Founders, but there's a downside, namely that Founders tend to have a vision for what they want and insufficient time to articulate it, and relatedly, insufficient time with individual team members. The outcome might look like we all react to HIPPOS (and I'm the ultimate HIPPO!) but its truer to say that the team is relatively inexperienced and the HIPPOS arent actually HIPPOS, they're just the more experienced team members who have done integrations in the past. The key thing is that experience knowing the CG Way is super important, and so is adaptability. Hence we have recent graduates running teams of up to 40+ people, they're hardly HIPPOS! We do focus on CG experience because almost every partner integration that we've done in the last 5 years has been a world first, either because of the scale of the integrations (e.g. launching 3 policies in 30 languages and 30 countries in 3 months in 2017) or because the product is unique (e.g. unbundling travel insurance into single risk items and serving dynamic product and price recommendations for each individual) or because we're working with some of the world's largest online companies (e.g. the world's largest shipping tech company, the world's largest travel company, Europe's largest flight aggregator etc). As Founder I'm really proud of our ability to attract, retain and develop the next generation of CG leaders as we continue to "create magic". Lastly, yes, we do focus on GWP. For that I can't apologise, something's gotta pay the bills :) Chris Bayley, Co-Founder & Chief Innovation Officer

  9. Helpful (3)

    "Great Place to Work"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Engineer in Sydney
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Cover Genius full-time for more than a year

    Pros

    Interesting projects. The company be classified as an "insurtech" startup. In contrast with traditional insurance businesses there is a big opportunity for innovations in this space. Great team. Interesting people, most of the team are matured specialists. Friendly and positive atmosphere inside the team. Successful business. Business is owned and run primarily by two Aussie co-founders, no big investors are involved. Fantastic revenue. The business is strategically in a very good position. Good opportunity for career growth. The company is growing fast, in the past it was nominated as the fastest growing startup. Big potential to repeat this in 2020/2021 as the new platform Cover Genius is building is getting more traction on the market. That's a great chance to step into a more senior role quickly. Good perks. Employee options, flexible and family friendly working conditions, fitness benefit, parental leave, an ability to attend conferences, food in the office, Friday drinks, etc.

    Cons

    It's a startup, and not a well established company. That means that the processes sometimes are not setup in the best possible way. If you are not ready to take initiative and prefer to work in a more structured environment, you can have hard times at Cover Genius. Office. The current office at Barrack street is quite good. However it's not the best setup for engineers, it's an open space office and also there is only one big meeting room. It's hard to book team meetings. However, it has shower and big kitchen which is nice. Location is also great.

  10. Helpful (6)

    "Interesting company at an interesting time"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - In the Product Team in Sydney
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Cover Genius full-time for less than a year

    Pros

    - Often the work is interesting - There are real challenges which require solving - Lately there's been some good company events - Many really smart people

    Cons

    - Too much bureaucracy - Benefits are pale in comparison to other tech startups, let alone established players - Constant uncertainty and unexpected changes in priority. Instead of having a vision for the products we are building and working towards a roadmap to get there, we are always reactionary - driven by random requirements and deadlines from partnerships. Deadline-driven development is the style of work the product team is forced to do, no cohesiveness. - Most exec team leaders have shown to genuinely not care about staff - Micromanagement and lack of trust in team from some people at the top - One thing is announced, and several months later, something totally different is done - usually with no announcement, usually to the detriment of staff - Almost unbelievably or comically poor communication/cooperation between different parts of the company, and the company leadership just doesn't seem to care - Transparency is an ongoing problem, but like many things, execs don't understand what transparency is - Culture and values are a joke, if you ask 10 different people what the culture is, you will get either different answers or a blank stare. By definition there is no culture.

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    Cover Genius Response

    September 17, 2019Co-Founder & Chief Innovation Officer

    [The following response is from Chris Bayley, Co-Founder] Thanks for giving us feedback. We accept that things aren't perfect so we always appreciate the chance to respond. Some of the things you've highlighted are being addressed and we've outlined the large amount of work being done by our People team over the next 6-12 months. As you've said, there's no easy solutions, but we are working on it. You made some points about benefits and culture. While we accept that many tech companies compete for talent through their benefits packages, we have always focused ours on things that really matter. Our generous health and wellness policy has been updated in line with the cultural value of "make it your own" so we're now covering whatever H&W charges you prefer. Similarly, one can choose their preferred schwag from a growing list, up to a budget. Our "CG Gives" microfinance program has also commenced with the team generously lending +$20K of company-matched bonuses to their preferred entrepreneurs in developing countries. We expect that the CG Gives program will lend over $100K in 2020 which is an extraordinarily generous contribution that aligns with the Founders' mission to enable social entrepreneurship and subsequently improve global financial literacy, a value encompassed by our "make it better" value. Our culture programs and other issues that you've raised derive from our historical funding situation. We are bootstrapped and frugal rather than venture-backed and, to be polite, less sustainable. The beneficiaries of this approach are undoubtedly our team members who are rewarded via our generous employee equity plan. Our EOP is unique within the tech industry; it ensures that the upside is truly significant when the company does well. This wouldn't be achievable if we were VC funded. We also accept that self-funded startups experiencing very high growth also mean the imperfections are writ large; there's less people to do the work, more context switching and there's going to be uncertainty when we're doing things that have never been done in one of the world's largest and oldest industries. As the team grows we're comfortable that this will change and the ride will be less bumpy! Thanks again for contributing. - Chris Bayley, Co-Founder

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