PassportCard

What PassportCard does

PassportCard (legal entity: DavidShield-PassportCard Ltd.) is a cross-border health and travel insurance company founded in 1999 by Alon Ketzef and headquartered in Netanya, Israel. The company sells short-trip travel insurance for leisure and business travelers, International Private Medical Insurance (IPMI) for expats, digital nomads, and relocating families, and a payment-solutions product built around its proprietary "red card" — a hybrid insurance/debit card that allows policyholders to top up funds via a mobile app and tap to pay directly at medical providers worldwide without upfront out-of-pocket expenses or traditional claims paperwork. Its underlying technology stack combines a real-time coverage activation platform, an integrated payment card system, a 24/7 multilingual Doctor-on-Call service, and an ISO 27001/ISO 27799-certified security infrastructure (OWASP Top 10-aligned development, TLS 1.3, AES-256 at rest, 2FA). Coverage is delivered to over 2 million insured in 150+ countries through 31 operation centers and three regional subsidiaries (Israel, Germany, Australia).

PassportCard's business model is primarily subscription-recurring: annual travel and IPMI premiums collected from individuals, families, and corporate groups, supplemented by transaction-fee revenue from card-based medical payments, foreign currency exchange, and VAT refund services offered through PassportCard Financial Services Ltd. The company runs a multi-channel go-to-market combining direct online sales, a broker/agent distribution network, and a dedicated enterprise sales team serving more than 1,200 corporate accounts. The group is privately held under White Mountains Insurance Group (NYSE: WTM), with the founding Ketzef family retaining active leadership. In May 2025, PassportCard acquired Pattern, an API-driven embedded insurance platform, to extend distribution into B2B2C channels. Recent industry recognition includes the 2024 Canstar Outstanding Value Travel Insurance – Cruise award, the 2024 ITIJ Award, and the 2021 GIA Gold Award.

PassportCard operates in the cross-border mobility insurance segment, where its principal differentiator versus traditional insurers is the real-time, cashless settlement enabled by the red card architecture, and where its principal competitive risk is concentration in a niche (travelers and expats) whose growth depends on continued global mobility and the willingness of brokers and partners to embed the product.

Name

PassportCard

Legal name

DavidShield-PassportCard Ltd.

Website

https://passportcard.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

PassportCard is a privately held, Israel-headquartered cross-border health and travel insurance provider serving 2 million insured in 150+ countries. It offers travel insurance, International Private Medical Insurance for expats and digital nomads, and a proprietary red-card payment system enabling real-time, cashless medical payments without traditional claims.

Ownership category

akta.pro rank

Product category

Travel and International Health Insurance

NAICS

All Other Travel Arrangement and Reservation Services (561599)

SIC

Accident & Health Insurance (6321), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Travel Medical Insurance (Individual) (FSAIAEAI)

akta.pro secondary industries

Medical Travel Insurance (Emergency Medical, Evacuation & Repatriation) (FSAJAJAB), Cross-Border Telemedicine, Second Opinion & Care Navigation Facilitators (THAKAIAM), Travel Money Cards & Multi-Currency Prepaid (FSAMANAI)

Keywords

• Travel insurance
• International health insurance
• Expat medical coverage
• Cross-border insurance
• Travel medical insurance

Headquarters

HQ city

Borehamwood

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Travel Insurance Premiums: Insurance premiums collected from travelers purchasing coverage for short leisure or business trips abroad. Coverage is activated in real-time with the PassportCard debit card system.
2. International Private Medical Insurance (IPMI) Premiums: Recurring premiums for expats living or working abroad long-term, providing comprehensive international health coverage with virtual consultations and multilingual support.
3. PASSPORTCARD Financial Services: Financial services including issuance of the payment card for medical provider payments, foreign currency exchange, and indirect tax refunds (VAT) for tourism purchases.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

PassportCard provides travel insurance and international private medical insurance (IPMI) to individuals, families, and corporate groups, with a proprietary payment card (Red Card) that enables real-time coverage activation and direct payments to medical providers worldwide. The company offers 24/7 multilingual assistance, virtual doctor consultations, and operates in 150+ countries.

Product overview

PassportCard offers a multi-product insurance platform centered on real-time, cashless health coverage for travelers and expats. The core portfolio consists of Travel Insurance for short leisure or business trips, International Private Medical Insurance (IPMI) for expats, and a unique Payment Solutions product featuring the PassportCard red card as a global debit/insurance hybrid. Sub-brands include PassportCard Travel, PassportCard Relocation, and PassportCard Financial Services. Value-added services include Pack a Hero (24/7 medical backup) and Doctor on Call (24/7 online medical consultations). The company recently acquired Pattern to expand into API-driven embedded insurance.

Differentiator

Problem solved

Functional benefit

Brands

• PassportCard Travel: Travel insurance for short leisure or business trips with real-time coverage activation and immediate expense coverage through the red card system.
• PassportCard Relocation
• PassportCard Payment Solutions

Products and services

• Travel Insurance

Quantifiable outcome

• Real-time claim settlement in minutes vs traditional claims process
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• PatterncoreTechnology or Integration · 9 May 2025PassportCard acquired Pattern, a developer of an API-driven embedded insurance platform. The acquisition aims to enhance PassportCard's embedded insurance offerings and innovation in customer experience, expanding its global technological capabilities in the travel and digital insurance sectors.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• World Nomads: World Nomads is a leading travel insurance provider for international leisure and adventure travelers, directly competing with PassportCard's short-trip travel insurance product on a global basis.
• GeoBlue: GeoBlue provides international travel health insurance and long-term expatriate medical coverage, closely matching PassportCard's IPMI offering for globally mobile individuals and corporate assignees.
• IMG Global (International Medical Group): IMG offers international travel medical insurance and global health plans for individuals, families, and groups, overlapping PassportCard's IPMI and corporate group product lines.
• SafetyWing: SafetyWing sells global health and travel insurance targeted at remote workers and digital nomads, the same primary customer segment as PassportCard's IPMI product. Both offer subscription-based cross-border health coverage with cashless claims positioning.
• Now Health International: Now Health International provides international private medical insurance for individuals and corporate groups across multiple geographies, directly comparable to PassportCard's IPMI portfolio.

Broad incumbents

• AXA Travel Insurance: AXA offers international travel insurance alongside its broader P&C and life portfolio, providing scale advantages over PassportCard in markets where AXA's distribution and reinsurance dominate.
• Bupa Global: Bupa Global provides international health insurance for individuals and corporate groups, comparable to PassportCard's IPMI offering but with broader geographic coverage and broader product portfolio.
• AIG Travel: AIG Travel offers international travel insurance products through corporate and consumer channels, competing with PassportCard's short-trip and corporate travel insurance products.
• Allianz Travel: Allianz Travel is a global travel insurance incumbent offered by Allianz Partners, competing with PassportCard's travel insurance product through far broader distribution and brand recognition.
• Cigna Global Health: Cigna Global Health provides international private medical insurance for expatriates and globally mobile employees, overlapping PassportCard's IPMI and corporate group offerings as part of a much larger benefits portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PassportCard
• Instagraminstagram.com/passportcard
• LinkedInlinkedin.com/company/passportcard
• YouTubeyoutube.com/@PassportCard
• Xx.com/passportcarduk

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PassportCard