Genasys has always taken a measured, values-driven approach to growth in the insurance technology sector. Today, Group CEO Andre Symes sits down to share insights into the company’s ethos and the importance of prioritising quality over quantity when it comes to client partnerships.
Interviewer: Andre, Genasys has carved out a reputation as a trusted partner in the insurance technology industry. What’s behind this approach?
Andre Symes: Our ethos as a business has always been one of steady, ethical growth based on transparency, honesty and integrity. We’d rather lose a deal based on truth than win one any other way. The latter isn’t good for us or the industry and is short termism that leads to poor execution, reputation and customer trust. The insurance market is so small and interconnected that reputations can be destroyed overnight, and there is no better marketing than an advocate of your software.
We want our reputation to be one of excellence in insurance technology – that we do what we say we will, when we say we will. It’s easy to promise the world to win a contract, but in the end, it’s delivery that builds trust and lasting partnerships. When people come to Genasys, we want to be easy to do business with, listen to their needs intently and provide them the information and comfort they need to make a decision on the best route forward for them.
Interviewer: That’s a refreshing perspective in an industry often focused on aggressive growth targets. How does this philosophy shape your strategy?
Andre Symes: You can’t focus on excellence when you’re under huge shareholder pressure to deliver growth based on unrealistic and inflated valuations. That’s one of the challenges many vendors face. At Genasys, we’re realistic about the size of the market we’re selling to and the competition we face. Take the UK MGA market as an example. There are around 300 MGAs operating right now, but only about 30 to 40 of those are likely to be re-platforming or making significant upgrades to their core insurance technology systems in any given year. On top of that, there are probably just as many vendors chasing those deals. Sadly this is why we’ve seen so many try and fail to break into the market – there simply aren’t the deal volumes available to expect to sign 20-30 new insurance technology customers per year. Our focus is on keeping lean and finding a handful of the right customers each year – those who align with our values, our platform’s strengths, and who we know we can help succeed.
Interviewer: How do you define the “right” customer for Genasys?
Andre Symes: For us, it’s about alignment rather than number of employees, classes of business or turnover. Our platform is already scaleable and product-agnostic with an open architecture that enables us to tackle virtually any insurance product offering. That’s why we stress that Genasys was “Designed for Insurance. Tailored to You”. The flexibility to configure the product to customer’s unique requirements significantly opens up the market for us.
However, we typically look for partners who share our commitment to transparency and long-term success. These are organisations that understand the importance of investing in insurance technology that will truly make their operations better, rather than just chasing the latest buzzwords or quick fixes.
We also prioritise relationships where there’s mutual respect and understanding. A good partnership is collaborative – both sides need to be working together towards the same goals.
Interviewer: Has this approach to growth ever been a tough sell internally or externally?
Andre Symes: I wouldn’t call it a tough sell, but it does require discipline. As part of our hiring philosophy, we only seek to recruit those who follow our four core values: trust and transparency, honesty and integrity, personal accountability and, growing and developing. Establishing those expectations and behaviours early is vital and must filter through the whole business. If people live those values, then our approach becomes a natural progression of those behaviours.
Equally, we’re lucky enough to have investors who are with us for the long haul and who support our ethos. It’s tempting to chase after every deal or expand at a pace that’s simply not sustainable. But at the end of the day, our team knows that quality wins out over quantity. By focusing on fewer, high-quality partnerships, we not only deliver better outcomes for our customers but also for ourselves. It keeps our team motivated and allows us to continually improve our insurance technology platform and services.
Interviewer: What advice would you give to other leaders in the industry?
Andre Symes: Be realistic about your market and what you can genuinely deliver. Focus on building a business that’s known for integrity, reliability and excellence, rather than just size or valuation.
In a vendor-saturated market like ours, reputation is everything. If you overpromise and underdeliver, you might win a few contracts in the short term, but it will come back to bite you. Instead, aim to be the partner that customers can rely on – the one that’s known for doing what they say they’ll do. That’s how you build lasting success.
Interviewer: Thanks, Andre. It’s clear that Genasys is as much about principles as it is about platform innovation.
Andre Symes: Absolutely. Insurance technology is only part of the equation. It’s the values and people behind it that make the real difference. At Genasys, we’re proud of the way we approach growth, and we’ll continue to put our customers and their success at the centre of everything we do.
Andre Symes’s insights underline the importance of integrity, collaboration, and long-term thinking in navigating the complexities of insurance technology. Genasys remains committed to building meaningful partnerships that prioritise customer success.
To learn more about how Genasys can support your business, explore our platform or contact us today to schedule a demo.
