The new revolution in travel insurance
IN Partnership with
Cover-More is now part of the second-largest travel insurance group worldwide – and with its significant scale and ambitious plans to expand beyond traditional insurance, New Zealand travellers can expect many benefits
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Cover-More Travel Insurance has been part of the New Zealand travel sector since 2007 and is one of the country’s leading providers of travel insurance and emergency medical and security assistance for international travellers. With the backing of parent company Zurich Insurance Group, Cover-More is committed to providing more cover and more care for all Kiwis.
Find out more
History of Cover-More in New Zealand
Cover-More Travel Insurance launches its New Zealand operations, leveraging the brand’s growing success in Australia
“The acquisition of Travel Guard allows Zurich Cover-More’s customer-facing brands, including Cover-More Travel Insurance in NZ, to do more of what the global business is good at: caring for and protecting the world’s travellers”
Will Ashcroft,
Cover-More Travel Insurance
Zurich Cover-More comprises more than 2,900 employees across multiple countries, protecting millions of travellers worldwide. With an expected annual gross written premium of approximately US$2 billion, Zurich Cover-More positions itself as the second-largest travel insurance and assistance group globally.
The scale of this entity is seen as crucial for meeting the complex needs of today’s global travellers.
“As we integrate our businesses, there will be stronger value for distribution partners worldwide and in New Zealand – by giving them access to a more global and larger-scale travel entity, with greater investment in digital-led propositions,” says Ashcroft.
While travel insurance remains the core business, Zurich Cover-More’s portfolio also includes cover for car hire excess, pets and gadgets in the UK and European markets.
The enlarged group writes insurance policies in more than 50 countries and maintains relationships with thousands of distribution partners worldwide. These partnerships form the backbone of Zurich’s global growth strategy, with GWP expected to reach US$2.5 billion by 2027.
One of the most significant advantages of the merger is the enhanced operational footprint.
“Travel Guard’s global technology and service platform, which is built specifically for travel, will significantly strengthen
Zurich Cover-More’s global travel insurance and assistance business. The acquisition includes global service centres across several countries – the US, Mexico, the UK, Bulgaria, China, the Philippines and Malaysia. These will augment our existing service operations and command centres in the US, Canada, Latin America, the UK, Ireland, Australia, New Zealand and the Philippines,” says Ashcroft.
Having the backing of a global giant means that Cover-More in New Zealand can likely compete harder in the local market and place pressure on rivals with its deep resources. Aside from increasing market share, important advantages accrue from size when leveraging technology or negotiating deals with suppliers.
The combined travel platform of the global entity is expected to operate as a global business with full value chain control, allowing for more consistent customer experiences regardless of location.
“Fundamentally, the acquisition of Travel Guard allows Zurich Cover-More’s customer-facing brands, including Cover-More Travel Insurance in NZ, to do more of what the global business is good at: caring for and protecting the world’s travellers,” says Ashcroft.
This global service model directly matches the international nature of travel itself. Importantly, travel is continually evolving, and the systems that manage and solve travel-related issues need to evolve in tandem.
Just a few short years ago, for example, working from abroad for an extended period was a rarity. A 2024 survey showed that 91% of people had never worked from overseas before the pandemic, but more than half had done so since.
Holiday activities have also changed in recent years. Package tours, resorts and cruises have seen their market share shrink in favour of adventure tourism, health and wellness trips or cultural and heritage tourism.
Today’s tourists seek authentic, personalised experiences that allow them to connect with local cultures, learn new skills and gain a deeper understanding of their destinations. This trend is driving innovation in the tourism industry, with businesses developing unique offerings to cater to these evolving demands.
At the same time, the number of travellers is expected to grow quickly over the next 20 years.
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A global transformation beyond traditional boundaries
The benefits of scale as travel evolves
Published 08 Sep 2025
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“Cover-More Travel Insurance’s long-standing aim is to be there at every step of a traveller’s journey”
Will Ashcroft,
Cover-More Travel Insurance
2007
Offices open in China, Malaysia and India, strengthening Cover-More’s presence in the Asia-Pacific
2011
Cover-More Group is listed on the Australian Securities Exchange
2013
Cover-More Group acquires Travelex Insurance Services in the US, as well as Halo Insurance Services (specialist in car hire excess insurance) in the UK
2016 (pre-Zurich acquisition)
Cover-More Group becomes part of Zurich Insurance Group, integrating into one of the world’s leading insurance providers
2017
Zurich acquires AIG’s global personal travel insurance and assistance business, including Travel Guard, and combines with Cover-More Group to form the Zurich Cover-More global brand (local branding remains Cover-More Travel Insurance)
2024
Source: Cover-More NZ
Source: Joint ACI World-ICAO Passenger Traffic Report, Trends, and Outlook, January 2025
Global air passenger traffic in 2024
9.5 billion
Expected air traffic growth
Expected global air passenger traffic in 2030
12
billion
Average annual growth rate
3.9% pa
Artificial intelligence is also playing an increasingly significant role in enhancing customer service experiences and creating more personalised travel solutions.
Cover-More has a history of pushing technological boundaries. Last year, it launched an app-based innovation in Australia and the US that allows users to add incidental insurance based on real-time activities detected by the smartphone’s motion capture and geolocation capabilities.
Technological innovation at the forefront
“Local customers and distribution partners have been enjoying the benefits of our group’s global footprint and wealth of talent for some time – in digital, product and marketing innovation, advanced underwriting, best-in-industry travel and security assistance for leisure travellers, and a unique customer experience exemplified by the award-winning Cover-More travel app, which has been available to Kiwi travellers since 2023,” Ashcroft explains.
With projections indicating significant growth in traveller numbers over the next two decades, Zurich Cover-More is
positioning itself at the forefront of a rapidly changing global travel insurance market.
As travel itself moves beyond the unprecedented crisis of the pandemic years and into a new era where authenticity, personalised experiences and technological integration are becoming increasingly important, Zurich Cover-More stands ready to protect and support travellers in ways never before possible.
“Cover-More Travel Insurance’s long-standing aim is to be there at every step of a traveller’s journey, and the integration of Travel Guard into Zurich Cover-More substantially reinforces the ability to earn the trust and respect of more travellers around the world and in New Zealand,” says Ashcroft.
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Contact Us
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AT THE end of January 2025, the world of travel passed a milestone – total full-year air traffic officially surpassed 2019 levels, marking the end of the pandemic downturn for the airline industry. One month earlier, Zurich Group finalised its acquisition of AIG’s Travel Guard business, marking a less trumpeted but perhaps just as significant event in global travel insurance markets.
“From December 2024, our acquisition of Travel Guard, AIG's global personal travel insurance and assistance business, has effectively doubled the size of our global group,” explains Will Ashcroft, Cover-More Travel Insurance managing director for New Zealand.
As a result, Travel Guard was combined with Zurich's existing travel insurance provider, Cover-More Group, and is part of the new corporate brand Zurich Cover-More.
While Kiwi customers will continue to see the familiar
Cover-More Travel Insurance branding, the reality is that the local firm now operates as part of a global travel insurance powerhouse.
For New Zealand travellers, that scale translates into tangible benefits from enhanced financial stability, technological advances, expanded coverage and a global pool of expertise that stems from the deal. Cover-More will also be at the vanguard of adapting to new trends in travel. By pushing into new product areas and doubling down on digital innovation, the company is mapping the future of travel insurance – and dramatically reshaping what customers can expect along the way.
AT THE end of January 2025, the world of travel passed a milestone – total full-year air traffic officially surpassed 2019 levels, marking the end of the pandemic downturn for the airline industry. One month earlier, Zurich Group finalised its acquisition of AIG’s Travel Guard business, marking a less trumpeted but perhaps just as significant event in global travel insurance markets.
“From December 2024, our acquisition of Travel Guard, AIG's global personal travel insurance and assistance business, has effectively doubled the size of our global group,” explains Will Ashcroft, Cover-More Travel Insurance managing director for New Zealand.
As a result, Travel Guard was combined with Zurich's existing travel insurance provider, Cover-More Group, and is part of the new corporate brand Zurich Cover-More.
While Kiwi customers will continue to see the familiar
Cover-More Travel Insurance branding, the reality is that the local firm now operates as part of a global travel insurance powerhouse.
For New Zealand travellers, that scale translates into tangible benefits from enhanced financial stability, technological advances, expanded coverage and a global pool of expertise that stems from the deal. Cover-More will also be at the vanguard of adapting to new trends in travel. By pushing into new product areas and doubling down on digital innovation, the company is mapping the future of travel insurance – and dramatically reshaping what customers can expect along the way.
AT THE end of January 2025, the world of travel passed a milestone – total full-year air traffic officially surpassed 2019 levels, marking the end of the pandemic downturn for the airline industry. One month earlier, Zurich Group finalised its acquisition of AIG’s Travel Guard business, marking a less trumpeted but perhaps just as significant event in global travel insurance markets.
“From December 2024, our acquisition of Travel Guard, AIG's global personal travel insurance and assistance business, has effectively doubled the size of our global group,” explains Will Ashcroft, Cover-More Travel Insurance managing director for New Zealand.
As a result, Travel Guard was combined with Zurich's existing travel insurance provider, Cover-More Group, and is part of the new corporate brand Zurich Cover-More.
While Kiwi customers will continue to see the familiar
Cover-More Travel Insurance branding, the reality is that the local firm now operates as part of a global travel insurance powerhouse.
For New Zealand travellers, that scale translates into tangible benefits from enhanced financial stability, technological advances, expanded coverage and a global pool of expertise that stems from the deal. Cover-More will also be at the vanguard of adapting to new trends in travel. By pushing into new product areas and doubling down on digital innovation, the company is mapping the future of travel insurance – and dramatically reshaping what customers can expect along the way.