Cover-More Travel Insurance

What Cover-More Travel Insurance does

Cover-More Travel Insurance is a global travel insurance and medical assistance provider founded in 1986 and operating under Cover-More Holdings USA Inc. for its US legal entity. The company sells travel insurance plans covering trip cancellation, interruption, emergency medical, medical evacuation, travel delay, and lost or delayed baggage, and includes 24/7 emergency assistance via Zurich Travel Assist. Plans are underwritten by Zurich American Insurance Company in the United States, and Cover-More became a wholly-owned subsidiary of Zurich Group in 2024, operating as part of the Zurich Cover-More division that serves customers across 22 countries including the US, Australia, Brazil, Argentina, Ireland, and New Zealand.

The company operates a digital platform centered on the covermore.com website with a quote-in-30-seconds flow that uses traveler age, state of residence, trip cost, and destination to calculate premiums. An eClaims portal at zurichtravelclaims.covermore.com allows policyholders to register, file claims, check status, and download forms. Cover-More also exposes an enrollment API and roster submission flow for travel partners to embed the product into their own platforms, alongside a Travel Alerts and Events service that tracks destination disruptions that may affect coverage.

Cover-More makes money by selling one-time travel insurance premiums at the point of purchase, with pricing that varies by trip details, traveler, destination, and selected coverage. GTM is hybrid: direct-to-consumer online sales, phone-based customer service, and B2B2C distribution through travel agencies, airlines, banks, financial institutions, and sporting clubs globally. The company reports more than 3,000 employees globally and protects more than 15 million people annually across five continents.

Name

Cover-More Travel Insurance

Legal name

Cover-More Holdings USA Inc.

Website

https://covermore.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cover-More is a global travel insurance and 24/7 medical assistance provider serving more than 15 million travelers annually across 22 countries. It sells trip cancellation, emergency medical, evacuation, and baggage coverage plans direct-to-consumer online and via airlines, banks, travel agencies, and other partners, underwritten by Zurich American Insurance Company.

Ownership category

akta.pro rank

Product category

Travel Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (524210)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Travel Insurance (Trip Cancellation/Interruption & Delay) (FSAJAJAA)

akta.pro secondary industries

Medical Travel Insurance (Emergency Medical, Evacuation & Repatriation) (FSAJAJAB), Travel Medical Insurance (Individual) (FSAIAEAI), Baggage & Personal Effects Insurance (FSAJAJAE), Ticket/Event Cancellation Protection (FSAJAJAG), Travel AD&D / Common Carrier Accidental Death Insurance (FSAIALAD), Adventure Sports & High-Risk Activity Travel/Accident Insurance (FSAJAJAL)

Keywords

• Travel insurance
• Trip cancellation coverage
• Emergency medical assistance
• Travel assistance services
• Baggage protection

Headquarters

HQ city

North Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Travel Insurance Premiums: Cover-More generates revenue through sale of travel insurance plans. Plans are available with various coverage options including trip cancellation, interruption, emergency medical, medical evacuation, travel delay, and baggage coverage. Premiums are calculated based on factors including trip cost, traveler age, and destination.
2. Travel Assistance Services: 24/7 emergency assistance services included with travel insurance plans, providing medical assistance, prescription help, medical evacuation coordination, and lost baggage retrieval.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Cover-More sells travel insurance plans to consumers covering trip cancellation, trip interruption, emergency medical expenses, medical evacuation, travel delay, and lost or delayed baggage. Plans include 24/7 emergency travel assistance (medical, prescription, evacuation) and are priced via individualized quotes based on trip cost, traveler age, destination, and coverage selected. Products are sold directly online at covermore.com and through partner channels (travel agencies, airlines, banks, financial institutions, sporting clubs), with US plans underwritten by Zurich American Insurance Company.

Product overview

Cover-More Travel Insurance offers a unified travel protection platform centered on travel insurance plans that provide coverage for trip cancellations, lost baggage, emergency medical assistance, and 24/7 travel support. The core product portfolio includes Travel Insurance Plans as the main offering, enhanced by COVID-19 Coverage for pandemic-related scenarios. Supporting services include the eClaims Portal for digital claims processing and Travel Alerts and Events for real-time event tracking. The 24/7 Travel Assistance service is included with all plans, providing global emergency support including prescription assistance, medical evacuation, and medical payment coordination. Insurance benefits are underwritten by Zurich American Insurance Company, and operations are part of Zurich Cover-More covering 22 countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Travel Insurance Plans Travel insurance plans providing coverage for trip cancellations, interruptions, emergency medical, medical evacuation, travel delay, and lost or delayed baggage. Plans include 24/7 emergency travel assistance and are available to consumers planning domestic or international trips.
• COVID-19 Coverage Travel insurance coverage specifically addressing coronavirus-related trip cancellations, interruptions, emergency medical, and medical evacuation, including coverage for policyholders who test positive before or during a trip.
• eClaims Portal Online portal for policyholders to register, file travel insurance claims, check claim status, and access claim forms digitally.
• 24/7 Travel Assistance Round-the-clock emergency assistance service bundled with travel insurance plans, providing prescription assistance, medical evaluation, emergency payments, medical evacuation coordination, and lost baggage retrieval worldwide.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Zurich American Insurance CompanycoreStrategic or Co-development PartnerZurich American Insurance Company underwrites Cover-More's travel insurance plans in the United States.
• Zurich Travel AssistcoreTechnology or IntegrationZurich Travel Assist provides 24/7 global emergency assistance services included with all Cover-More travel insurance plans.
• Travel AgenciesmajorChannel Partner/ Reseller/ DistributorGlobal partnerships with travel agencies for distribution of Cover-More travel insurance products.
• AirlinesmajorChannel Partner/ Reseller/ DistributorPartnerships with airlines for distribution of travel insurance products to travelers.
• Banks and Financial InstitutionsmajorChannel Partner/ Reseller/ DistributorPartnerships with banks and financial institutions for distribution of travel insurance products, often bundled with credit cards or travel services.
• Major Sporting ClubsminorChannel Partner/ Reseller/ DistributorPartnerships with major sporting clubs globally for travel insurance distribution.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Seven Corners: Seven Corners specializes in travel medical insurance and trip protection, with strong international medical coverage focus. Directly comparable to Cover-More's emergency medical and evacuation value proposition.
• Berkshire Hathaway Travel Protection: Berkshire Hathaway Travel Protection underwrites and distributes travel insurance plans in the US, leveraging Berkshire's balance sheet strength. Direct competitor with similar underwriting-backed distribution model to Cover-More's Zurich American relationship.
• Travel Insured International: Travel Insured International is a US-based travel insurance provider offering trip cancellation, medical, and group travel coverage. Comparable in product mix and direct-to-consumer + partner distribution model.
• Allianz Travel Insurance: Allianz Partners is one of the largest global travel insurance providers, offering trip cancellation, medical, and baggage coverage. Directly comparable to Cover-More as a globally distributed travel insurance carrier with multi-channel distribution and 24/7 assistance.
• Generali Global Assistance: Generali Global Assistance (formerly CSA Travel Protection) provides travel insurance including trip cancellation, medical, and assistance services. Comparable to Cover-More in product offering, distribution through airlines and partners, and 24/7 assistance.
• IMG (International Medical Group): IMG specializes in international travel medical insurance, global medical insurance, and travel protection products. Comparable to Cover-More's medical/evacuation-heavy travel insurance value proposition with strong direct distribution.
• World Nomads: World Nomads specializes in travel insurance for adventurous and independent travelers, with strong digital direct-to-consumer distribution. Comparable to Cover-More in product scope (including adventure sports cover) and global reach, with similar target customer.
• AIG Travel Guard: AIG's Travel Guard is a major US travel insurance brand offering trip cancellation, medical, and baggage plans through direct, agent, and airline channels. Direct competitor to Cover-More with similar product mix and distribution.

Emerging players

• SafetyWing: SafetyWing is a digital-native travel medical insurance provider targeting remote workers, digital nomads, and global citizens. Comparable to Cover-More in the travel medical insurance category but differentiated by a fully digital, subscription-based model targeting a younger demographic.

Broad incumbents

• AXA Assistance (AXA Partners): AXA Partners offers global travel insurance and assistance as part of broader AXA insurance group. Comparable to Cover-More as a global travel insurer backed by a multiline parent with 24/7 assistance services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/covermore

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Cover-More Travel Insurance