- Genki acquired Cologne-based insurtech Wave Claims and its Claim OS software, marking Genki’s first acquisition.
- The deal brings AI claims automation and technical claims expertise in-house, closer to Genki’s product and engineering teams.
- Claim OS helps process health insurance claims by reading invoices and medical documents, structuring data, coding diagnoses to ICD standards and flagging potential fraud patterns.
Genki, a digital insurer registered and licensed in Germany, has acquired Wave Claims, a Cologne-based insurtech startup, along with its Claim OS software. The deal marks Genki’s first acquisition.
Genki sells international health insurance for digital nomads, expats and long-term travelers. By buying Wave Claims, the company brings AI claims knowledge and technical claims experience closer to its product and engineering teams.
Claims sit at the point where health insurance proves itself. Genki wants more control over that process, from document intake to fraud checks.
It also wants to learn more from members’ healthcare needs and feed those findings back into product work.
Claim OS handles the document-heavy work behind health insurance claims. The software reads invoices and medical documents, structures the information, codes diagnoses under international ICD standards and flags unusual patterns as possible fraud signals. Human reviewers stay involved where judgment still matters.
Claims are the moment of truth in health insurance. Bringing this technology and expertise into Genki means we understand our members’ healthcare needs better, and everything we learn flows into building better products for them
Marc Knaup, co-founder and managing director of Genki
“Our mission at Genki is to help you take great care of your health, no matter where in the world you go. We’re here to make health easier and more accessible for nomads, expats, and world travelers”, Marc Knaup says.
Genki plans to use the technology to improve claim submission for members. The goal: tell members at filing which documents and details their claim needs, before the back-and-forth starts.
Existing Wave Claims clients will continue receiving service without changes, according to the companies.
We built Claim OS to do one thing well: take the friction out of insurance claims with AI-assisted document handling. Genki is exactly the right home for it to grow
Antonio Agudo, co-founder of Wave Claims
Genki develops and markets international health insurance for people traveling, working and living abroad. Its products include Genki Traveler, a flexible worldwide travel health insurance plan, and Genki Native, a full international health insurance product with optional dental, vision, mental health and maternity cover.
Since launching in 2021, Genki has covered more than 75,000 travelers from 196 countries.
