Butter Insurance
Butter Insurance is a Sydney-based Australian insurtech offering direct-to-consumer travel and consumer-electronics insurance, distributed via its website, mobile app, and an embedded checkout integration with Australian Payments Plus.
- Company typePrivate
- Founded2021
- HeadquartersSydney, Australia
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Butter Insurance does
Butter Insurance is an Australian insurtech founded in 2021 by former lawyers Steph Skevington and Cassie Bell, headquartered in Sydney. The company operates a direct-to-consumer online insurance platform offering two core products: travel insurance (covering travelers in 173 countries) and tech insurance for consumer electronics such as phones, laptops, and headphones priced between AU$300 and AU$5,000. Butter differentiates itself by being the first company to embed insurance at the point of checkout within Australia's payment infrastructure, through a partnership with Australian Payments Plus (comprising BPAY, eftpos Australia, and NPP Australia), enabling insurance-at-checkout for electronics purchases.
The company generates revenue primarily through insurance premiums. Travel insurance is sold on a pay-as-you-go basis with pricing varying by age, destination, trip length, coverage limits, and number of travelers, while tech insurance is sold on a monthly subscription. Its go-to-market is dual: an embedded-at-checkout distribution model via Australian Payments Plus and a direct-to-consumer channel through the butterinsurance.com.au website and mobile app. The company targets young Australian consumers—particularly tech-device owners and outbound travelers—addressing pain points around complex traditional insurance processes, high device protection plan costs, and limited youth-focused insurance options. Travel policies are administered by battleface Insurance Services Pty Ltd and underwritten by Pacific International Insurance Pty Ltd, while tech insurance is distributed as an Authorised Representative of Virginia Surety Company, Inc. (AFSL 245579).
Butter has expanded its product surface with add-on modules including rental car excess, ski and snow, cruise, motorcycle/moped, boat, and pet boarding cover, alongside 13+ destination-specific travel insurance pages targeting high-volume Australian outbound corridors. The company is backed by $1.3 million AUD in pre-seed funding from Flying Fox VC, Quokka Ventures, FB10X adVentures, and Startmate, and maintains a 1-10 person team. As of mid-2025 the company is operating an active website and full product portfolio.
Butter Insurance firmographics
Firmographics- Name
- Butter Insurance
- Legal name
- Butter Insurance Pty Ltd
- Website
- https://butterinsurance.com.au
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Butter Insurance is a Sydney-based Australian insurtech offering direct-to-consumer travel and consumer-electronics insurance, distributed via its website, mobile app, and an embedded checkout integration with Australian Payments Plus.
- Ownership category
- akta.pro rank
Butter Insurance industry classification
Industry- Product category
- Personal Insurance
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Retail (Personal Lines) Insurance Brokerage (FSAEADAA)
- akta.pro secondary industry
- Commercial Lines Insurance Brokerage (FSAEADAB)
Keywords
Where Butter Insurance is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Butter Insurance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure
Revenue model
- Subscription-style Insurance Premiums: Ongoing subscription payments for insurance coverage on electronics and travel, with customers paying regular premiums for continued protection.
- Travel Insurance Policies: One-time and subscription-based travel insurance policies providing coverage for trips including medical emergencies, cancellations, luggage, and delays.
- Tech Insurance Coverage: Coverage for electronics including phones, laptops, headphones and more with original purchase price between AU$300 - AU$5,000, covering accidental damage and theft.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Travel Insurance with variable pricing based on trip parameters |
| Subscription | Monthly | Tech Insurance for electronics (phones, laptops, headphones) |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Butter Insurance product offering
Product offeringCore offering
Butter Insurance is an Australian insurtech that sells subscription-style and one-off travel insurance and consumer-electronics insurance directly to Australian consumers via its website, mobile app, and an embedded checkout integration with Australian Payments Plus. Its two core lines are Butter Travel Insurance (covering medical emergencies, cancellations, and luggage in 173 countries) and Butter Tech Insurance (covering phones, laptops, and headphones between AU$300–AU$5,000 against accidental damage and theft), supported by add-ons like rental car excess, cruise, and ski cover.
Product overview
Butter Insurance is an Australian insurtech startup offering direct-to-consumer insurance products primarily for travelers and tech device owners. The company operates two core insurance products: Butter Travel Insurance (providing comprehensive travel coverage for Australian travelers with destination-specific variants for countries including Thailand, Vietnam, USA, UK, South Africa, New Zealand, Singapore, Philippines, Malaysia, Korea, and Japan, plus worldwide coverage) and Butter Tech Insurance (covering consumer electronics like phones, laptops, and headphones). The platform also offers specialized add-on coverages including Ski & Snow Insurance, Rental Car Excess Insurance, Cruise Travel Insurance, Motorcycle & Moped Cover, Boat & Cruise Cover, and Pet Boarding Cover. Founded in 2021 and backed by $1.3 million in pre-seed funding from Flying Fox VC, Quokka Ventures, FB10X adVentures, and Startmate, the company partners with Australian Payments Plus to embed insurance within payment systems.
Differentiator
Problem solved
Functional benefit
Products and services
- Butter Travel Insurance Comprehensive travel insurance for Australian travelers covering medical emergencies, trip cancellations up to AU$40,000, lost or delayed luggage, COVID-19 medical costs, and personal liability, with coverage available in 173 countries (excluding DFAT level 4 countries). Sold directly to consumers online with quotes obtained in under two minutes and policies covered in under 60 seconds.
- Butter Tech Insurance Subscription-style insurance for consumer electronics such as phones, laptops, and headphones with original purchase prices between AU$300 and AU$5,000, covering accidental damage and theft Australia-wide and during overseas travel for up to 90 days. Purchasable by Australian consumers through Butter's website and at checkout via the Australian Payments Plus integration.
- Rental Car Excess Insurance Coverage for excess fees that can reach into thousands of dollars when a rental car is damaged or stolen, sold to Australian travelers who rent vehicles domestically or overseas.
- Cruise Travel Insurance Travel insurance tailored for cruise vacations, covering medical emergencies at sea, cabin confinement, trip interruption from severe weather, and lost belongings while aboard cruise ships. Sold to Australian travelers as an add-on to Butter's travel insurance line.
- Ski & Snow Insurance Insurance add-on covering skiing and snowboarding activities including medical emergencies, lost or damaged equipment, trip cancellations due to weather, and avalanche-related delays, offered to Australian travelers undertaking ski trips domestically or overseas.
Quantifiable outcome
- 173 countries covered for travel insurance
- +4 more outcomes
Companies that use Butter Insurance
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles2 records
Butter Insurance technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Butter Insurance partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Australian Payments PluscoreStrategic partnership to embed insurance within Australia's payment systems. Australian Payments Plus comprises BPAY Group, eftpos Australia, and NPP Australia. This partnership enabled Butter to become the first company to embed an insurance solution within Australia's payment infrastructure, allowing insurance-at-checkout for electronics.
- Pacific International Insurance Pty LtdcoreUnderwriter for Butter Travel Insurance policies. Butter Travel Insurance is administered by battleface Insurance Services Pty Ltd and underwritten by Pacific International Insurance Pty Ltd.
- Virginia Surety Company, Inc.coreUnderwriter for Butter Tech insurance. Butter Tech insurance is distributed by Butter Insurance Pty Ltd as an Authorised Representative of Virginia Surety Company, Inc. (VSC), AFSL 245579.
- battleface Insurance Services Pty LtdcoreAdministrator for Butter Travel Insurance (ABN 28 650 606 045, AFSL 536280), operating under the trading name Robin Assist. Butter Insurance Pty Ltd acts as their authorised representative.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Butter Insurance competitors and assessment
Company assessmentBroad incumbents
- Cover Genius: Cover Genius is a global embedded insurance platform that distributes insurance at the point of sale for retailers, airlines, and travel platforms. It is the most direct comparable to Butter's embedded distribution thesis but operates at much larger scale across multiple geographies and verticals.
- Cover-More Travel Insurance: Cover-More is one of Australia's largest travel insurance distributors, owned by Zurich Insurance Group, with deep airline, OTA, and bank distribution partnerships. Comparable to Butter on travel product and Australian focus, but vastly larger scale and incumbent position.
- Lemonade: Lemonade is a publicly-traded AI-native insurtech using a digital-first, mobile-app distribution model with simplified underwriting and fast claims. Comparable to Butter on the consumer insurtech model and digital UX, though operating in the US/Europe at much larger scale across multiple lines.
Direct peers
- Upcover: Upcover is an Australian insurtech providing simplified, online business and personal insurance with a digital-first, subscription-style model. It shares Butter's Australian market focus, DTC distribution, and insurtech positioning, though Upcover skews more toward small-business coverage.
- Honey Insurance: Honey Insurance is an Australian insurtech offering embedded home and contents insurance through bank partnerships and direct channels. Comparable to Butter as an Australian digital-native insurer using embedded distribution partnerships to reach consumers.
- Knose: Knose is an Australian insurtech offering subscription-style pet and lifestyle insurance directly to consumers via a digital platform. Comparable to Butter on subscription insurance model, Australian market, and DTC simplicity, though focused on pet/lifestyle rather than travel/tech.
- Travel Insurance Direct: Travel Insurance Direct is an established Australian online travel insurance provider offering direct-to-consumer travel policies. Comparable to Butter Travel on product, customer base, and online distribution, though a much larger incumbent brand.
- Fast Cover Travel Insurance: Fast Cover is an Australian online travel insurance specialist targeting budget-conscious travelers with simplified online policies. Comparable to Butter Travel on product category, Australian customer base, and emphasis on fast digital purchase experience.
- battleface: battleface is the insurance administrator that actually services Butter Travel policies (trading as Robin Assist in Australia). Directly comparable as an enabler/partner operating in the same travel insurance administration space and serving Butter's customers.
Others
- Finder: Finder is an Australian comparison platform that aggregates travel, tech, and general insurance products and earns referral commissions. Comparable to Butter as a digital distribution layer for Australian insurance, though as an aggregator rather than a carrier-affiliated product.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks2 records
Key highlights6 records
Customer concentration
Butter Insurance social profiles
Digital presenceButter Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Butter Insurance leadership team
Management profileNumber of profiles
Profiles2 records
Butter Insurance funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Butter Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Butter Insurance
What does Butter Insurance do?
Butter Insurance is an Australian insurtech that sells subscription-style and one-off travel insurance and consumer-electronics insurance directly to Australian consumers via its website, mobile app, and an embedded checkout integration with Australian Payments Plus. Its two core lines are Butter Travel Insurance (covering medical emergencies, cancellations, and luggage in 173 countries) and Butter Tech Insurance (covering phones, laptops, and headphones between AU$300–AU$5,000 against accidental damage and theft), supported by add-ons like rental car excess, cruise, and ski cover.
Is Butter Insurance a public or private company?
Butter Insurance is a private company. It is classified as venture growth investor backed and is currently operating.
When was Butter Insurance founded?
Butter Insurance was founded in 2021. It employs 1 to 10 people.
Where is Butter Insurance based?
Butter Insurance is headquartered in Sydney, Australia, in the Oceania region.
How does Butter Insurance make money?
Three revenue lines are on record. Subscription-style Insurance Premiums are the primary driver. The others are travel Insurance Policies and tech Insurance Coverage.
Who are Butter Insurance's main competitors?
Broad incumbents on record are Cover Genius, Cover-More Travel Insurance and Lemonade. Direct peers are Upcover, Honey Insurance, Knose, Travel Insurance Direct, Fast Cover Travel Insurance and battleface. Finder is listed as an others.
Does Butter Insurance have an API?
No public API is recorded for Butter Insurance.
What industry is Butter Insurance in?
Butter Insurance's product category is Personal Insurance. Its primary akta.pro industry code is FSAEADAA, Retail (Personal Lines) Insurance Brokerage, with a secondary code of FSAEADAB, Commercial Lines Insurance Brokerage. Its NAICS code is 5242 and its SIC code is 6411.