Cover-More

What Cover-More does

Cover-More is an Australian travel insurance and medical assistance provider founded in 1986 and headquartered in North Sydney, operating as a wholly owned subsidiary of Zurich Insurance Group via Cover-More Group. The company offers a modular portfolio of travel insurance products across three plan tiers (Basic, Comprehensive, Comprehensive+) for international, domestic, and inbound travel, plus dedicated Single Trip, Annual Multi-Trip, and Business policies. Core plans can be extended with optional add-ons including Cruise Cover, Snow Sports Cover, Adventure Activities Cover (80+ activities), Motorcycle/Moped Cover, Existing Medical Conditions Cover, Pregnancy Cover, and Seniors Cover (up to age 99). All policies are underwritten by Zurich Australian Insurance Limited and administered by Cover-More Insurance Services Pty Ltd (AFSL 241713).

Underlying technology consists of an online quoting engine with integrated medical assessment, a self-service policy management portal, an online claims submission and tracking system, and an award-winning mobile application for iOS and Android providing policy access, real-time safety alerts, and tap-to-call 24/7 emergency assistance. A 24/7 global assistance network of doctors, nurses, case managers, and travel agents coordinates medical care and evacuations.

Cover-More generates revenue primarily through travel insurance premiums on single-trip and annual multi-trip policies, with premium pricing varying by destination, trip duration, traveler ages, and coverage level. Distribution combines self-serve digital (website and app), telephone sales, an open affiliate network of travel agents and online businesses (with tracking-coded widget referrals), and strategic partnerships including Virgin Australia's Velocity Frequent Flyer (3 points per $1 spent), the New Zealand Automobile Association, and Aon Australia. The company maintains an operational footprint across Australia, New Zealand, the United Kingdom, Malaysia, and India, and claims to be Australia's largest independent travel insurance provider.

Name

Cover-More

Legal name

Cover-More Insurance Services Pty Limited

Website

https://covermore.com.au

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cover-More is an Australian travel insurance and medical assistance provider founded in 1986, serving individual travelers and corporate clients across Australia, New Zealand, the UK, Malaysia, and India via direct, affiliate, and broker channels, with policies underwritten by Zurich Insurance.

Ownership category

akta.pro rank

Product category

Travel Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers and Related Activities (524), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Carriers, Nec (6399), Accident & Health Insurance (6321), Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Medical Travel Insurance (Emergency Medical, Evacuation & Repatriation) (FSAJAJAB)

akta.pro secondary industries

Baggage & Personal Effects Insurance (FSAJAJAE), Adventure Sports & High-Risk Activity Travel/Accident Insurance (FSAJAJAL), Travel Medical Insurance (Individual) (FSAIAEAI)

Keywords

• Travel insurance
• Medical assistance
• Emergency evacuation
• Travel protection
• Insurance underwriting

Headquarters

HQ city

North Sydney

HQ country

Australia

HQ region

Oceania

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Travel Insurance Premiums: One-time travel insurance policies purchased for single trips or annual multi-trip coverage. Premiums are calculated based on destination, trip duration, traveler ages, and selected coverage levels including optional add-ons for cruise, snow sports, adventure activities, and existing medical conditions.
2. Velocity Points Partnership: Partnership with Virgin Australia's Velocity Frequent Flyer program where customers earn 3 Velocity Points per $1 spent on eligible travel insurance policies, driving customer acquisition and loyalty through the frequent flyer ecosystem.

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels8 records

Core offering

Cover-More sells travel insurance policies for international, domestic, and inbound travelers, structured across multiple plan tiers (Basic, Comprehensive, Comprehensive+) with optional add-ons for cruises, snow sports, adventure activities, motorcycles, pre-existing medical conditions, and pregnancy. Policies are underwritten by Zurich Australian Insurance Limited and supported by a 24/7 global emergency assistance network providing medical care coordination and evacuations, plus an award-winning mobile app for policy management and emergency contact.

Product overview

Cover-More is an Australian travel insurance provider offering a multi-tiered portfolio of insurance products across three core plan levels (Basic, Comprehensive, Comprehensive+) for three travel categories: international, domestic, and inbound. The product portfolio also includes a dedicated Annual Multi-Trip Policy, Single Trip Policy, and Business Policy. Coverage is modular — core plans can be extended with optional add-ons including Cruise Cover, Snow Sports Cover, Adventure Activities Cover (80+ activities), Motorcycle/Moped Cover, Existing Medical Conditions Cover, Pregnancy Cover, and Seniors Cover. A dedicated COVID-19 benefit is embedded within international plans. The company also offers a proprietary mobile app for policy management, real-time travel alerts, and 24/7 emergency assistance. All products are underwritten by Zurich Australian Insurance Limited and administered by Cover-More Insurance Services Pty Ltd.

Differentiator

Problem solved

Functional benefit

Products and services

• International Basic Plan Entry-level international travel insurance plan providing budget-friendly cover with essential benefits including unlimited overseas emergency medical expenses, up to $5,000 luggage cover, pre-trip and on-trip COVID-19 cover, existing medical conditions cover (available), optional cancellation cover, single trip and annual multi-trip policies, and rental vehicle insurance excess.
• International Comprehensive Plan Mid-tier international travel insurance plan, identified as the company's most popular, offering higher benefit limits including up to $15,000 luggage cover, pre-trip and on-trip COVID-19 cover, rental vehicle comprehensive cover, single trip or annual multi-trip policies, and cover for 80+ adventure activities.
• International Comprehensive+ Plan Premium international travel insurance plan with the highest benefit limits including up to $25,000 luggage cover, business trip benefits, and the full suite of optional add-ons including cruise cover, snow sports, adventure activities, and motorcycle/moped cover.
• Domestic Comprehensive+ Plan Premium domestic travel insurance plan covering trips within Australia, offering up to $15,000 luggage cover, $1,500 delayed baggage allowance, rental vehicle comprehensive cover, and cover for domestic travel including territories such as Norfolk Island, Lord Howe Island, Keeling Islands, and Christmas Island.
• Domestic Comprehensive Plan Mid-tier domestic travel insurance plan covering trips within Australia with up to $5,000 luggage cover and $1,100 delayed baggage allowance.
• Domestic Basic Plan Entry-level domestic travel insurance plan covering trips within Australia, providing $Nil luggage cover as the base benefit limit.
• Inbound Plan Travel insurance plan for non-Australian residents visiting Australia, providing cover for emergency medical expenses incurred in Australia up to $2,000 dental, up to $15,000 luggage cover, and $1,100 delayed baggage allowance.
• Annual Multi-Trip Policy Annual travel insurance policy providing unlimited trips throughout the year for destinations more than 250km from home, with a choice of maximum trip duration per journey (30, 60, or 90 days). Includes up to six weeks of leisure travel during the year.
• Single Trip Policy One-way or return travel insurance policy covering a single journey for up to 12 months, with cover commencing at departure from home and ceasing upon return.
• Business Policy Dedicated annual business travel insurance policy designed for frequent business travellers, covering unlimited trips up to a selected maximum duration per journey (30, 60, or 90 days), protecting travellers up to 74 years old, and including up to six weeks of leisure travel. The Comprehensive+ plan includes a Business Pack covering business equipment loss, equipment hire, alternative staff replacement, kidnap and ransom, and stolen business money.
• Cruise Cover Optional add-on for travellers heading on ocean or sea voyages of two nights or more, providing cruise-specific coverage integrated into the policy for emergency medical, trip disruption, and other cruise-related expenses.
• Snow Sports Cover Optional add-on for snow-based travel, available in two levels: Snow Sports (on-piste skiing, snowboarding, snowmobiling, cross-country skiing) and Snow Sports+ (additionally covering off-piste skiing/boarding and guided heli-skiing/boarding tours). Both levels exclude racing and professional participation.
• Adventure Activities Cover Optional add-on providing cover for over 80 adventure activities (e.g., abseiling, archery, camel riding, canyoning, snorkelling, sandboarding) in two coverage levels, for travellers who want to engage in high-adrenaline activities during their trip.
• Motorcycle/Moped Cover Optional add-on for travellers planning to ride a motorcycle or moped as driver or passenger abroad, providing specific cover for motorcycling-related risks during international travel.
• Cover-More Mobile App Award-winning mobile application providing policy access in users' pockets, real-time destination safety alerts, travel tips, tap-to-call 24/7 emergency assistance, policy management, and claims submission, available on iOS (App Store) and Android (Google Play).

Quantifiable outcome

• 15+ million travelers served since 1986
• +4 more outcomes

Named customers1 record

Segments11 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Aon AustraliacoreChannel Partner/ Reseller/ Distributor · 7 April 2026Cover-More has entered a strategic partnership with Aon to become the travel insurance provider for Aon's Australian retail customers and workforce. The agreement allows Aon to distribute Cover-More's travel cover through its Australian retail channels and internal programs, expanding Cover-More's distribution while enhancing Aon's employee benefits offerings.
• New Zealand Automobile Association (AA)coreChannel Partner/ Reseller/ Distributor · 8 December 2025The NZ AA has partnered with Cover-More to launch a modular travel insurance product offering flexible coverage options for New Zealand travellers. The product allows customers to customise their coverage for activities including cruising, snow sports, adventure experiences, and motorbike or moped trips, along with international emergency assistance.
• Velocity Frequent Flyer (Virgin Australia)coreGTM or Marketing PartnerPartnership with Virgin Australia's loyalty program allows Cover-More customers to earn 3 Velocity Points for every $1 spent on eligible travel insurance purchases. Points are credited once the trip begins and can be redeemed for flights, upgrades, accommodation, and car hire. This loyalty partnership drives customer acquisition through the Velocity frequent flyer ecosystem.
• Zurich Insurance GroupcoreOEM/ Whitelabel/ Licensing PartnerCover-More Group is owned by Zurich Insurance Group. Cover-More Australia travel insurance is issued and underwritten by Zurich Australian Insurance Limited (ABN 13 000 296 640, AFSL 232507). This partnership provides financial stability and claims-paying ability backed by the global Zurich brand.
• Cover-More EuropeminorStrategic or Co-development PartnerCover-More Europe operates separately and has launched a parametric flight delay benefit in Ireland, demonstrating innovation in travel insurance products across the Cover-More group of companies.
• NRL (National Rugby League)minorGTM or Marketing PartnerCover-More is the Official Travel Insurance Partner of the NRL, providing brand visibility through sponsorship of Australia's premier rugby league competition.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Battleface: Specialty travel insurer focused on adventure, extreme sports, and high-risk destinations. Overlaps with Cover-More's Snow Sports, Adventure Activities, and Cruise Cover modules and represents a niche competitive threat in those segments.

Direct peers

• Southern Cross Travel Insurance (SCTI): New Zealand travel insurance brand serving ANZ travelers with single-trip, annual multi-trip, and cruise products. Directly comparable to Cover-More on geography, customer segments, and product tiering.
• Fast Cover Travel Insurance: Australian online direct-sell travel insurance brand competing on price and digital UX against Cover-More's online quoting engine and mobile app.
• World Nomads: Specialist travel insurance provider for independent and adventure travelers, with strong backpacker, long-stay, and activity-based coverage — overlapping with Cover-More's adventure and multi-trip modular product lines.
• 1Cover: Australian-headquartered online travel insurance provider selling direct to consumers across international, domestic, and cruise categories. Closest like-for-like competitor to Cover-More on product breadth, pricing transparency, and ANZ customer base.

Broad incumbents

• AIG Travel: AIG's travel insurance and assistance business sells global travel cover and emergency assistance across consumer and corporate channels, overlapping with Cover-More's products and World Travel Protection-style assistance services.
• Travelex Insurance: Established travel insurance carrier serving US and international customers through banks, airlines, and online channels; comparable to Cover-More in product and channel breadth though with stronger US distribution.
• Generali Global Assistance (now Tokio Marine): Global travel insurance and assistance provider offering trip cancellation, medical, and 24/7 assistance products across multiple geographies, directly comparable to Cover-More's full-service insurance plus assistance stack.
• Allianz Travel: Global insurer's travel insurance division operating widely across P&C personal lines including travel. Competes with Cover-More in Australia and globally with broader portfolio strength, brand recognition, and embedded bancassurance distribution.

Others

• InsureMyTrip: Travel insurance comparison marketplace that aggregates carriers including some that compete with Cover-More. Functions as a distribution intermediary that can either amplify or cannibalize Cover-More's own affiliate channel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/covermore
• LinkedInlinkedin.com/company/cover-more-insurance

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

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