The Genasys Story

By Genasys team
10 October 2022

As an insurtech constantly striving to be at the cutting edge of innovation, we’re more than a little different from the company that was founded in 1997, but our challenger spirit and culture have endured.

To celebrate our 25th anniversary, we’re taking a look back at some of the key moments that have shaped us, taking us from a start-up run out of a garage in Cape Town to a leading insurtech providing insurance administration software to clients across 23 countries, and managing a gross written premium of over £1.5 billion. 

1997: The genesis of Genasys.

Our founder Steve Symes, working from his garage in Cape Town, is engaged by a European insurer to build a customer centric insurance administration system to manage their distributed agents. Shortly after, Steve has the idea of “Generating a System” to redefine the insurance industry… Genasys.

2001: From project to product.  

By the turn of the millennium Genasys gets set to launch its first software product, Customer of One, a customer-centric administration platform for insurance. The first insurer goes live on the new platform.

2003: Outgrowing the home office.  

Genasys establishes its first formal offices, at the TechnoPark, Stellenbosch in Cape Town.  

2004: Nationwide rollout. 

With traction now gaining amongst small to medium size insurers and brokers, Genasys takes on its first major insurer with a full nationwide rollout.

2005: Going international.  

Genasys lands its first UK client and succeeds in proving the software’s capabilities and reliability in multiple environments and territories.

2006: A pivotal year. 

A big milestone as we launch our second SA office, a major hub in Johannesburg, and relaunch our software platform as SKi: the Software Key to Insurance.

2012: 50 not out! 

Our headcount climbs to half a century, as the company grows its footprint across South Africa and into multiple markets.

2015: Going up in the world. 

As the business continues to experience strong growth, another landmark is achieved as the first global Blue-Chip insurer launches on the platform.

2019: Into Europe. 

Genasys goes truly international as the company opens its UK office.

2021: Set for scale. 

Andre Symes and Craig Olivier are named joint CEOs, and the company secures significant investment from Frog Capital to help accelerate the next phase of the company’s growth.

The last 25 years has seen an evolution in everything the company does. Whilst much of our company – and certainly our technology! – is unrecognisable since the early days, Genasys continues to be a company that likes to do things differently and challenge the status quo.

“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.”

And more important than our technology has always been our approach: the dedication of our team to support our clients, build enduring relationships and ensure we’re always going the extra mile.

“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.”

So what’s next? As Andre sums up, we’ll continue to do what Genasys does best. “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.”

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