Cover has recently partnered with Adyen to streamline its payments infrastructure across Australia and New Zealand.
Founded in 2003, Cover was one of the pioneering online travel insurance providers in Australia. Today, it caters to customers in both Australia and New Zealand. As the company expanded, managing its payment systems through multiple regional providers led to complexities and inefficiencies that necessitated consolidation.
Operational Efficiency Gains
Since implementing Adyen’s platform in May 2025, Cover has reported substantial operational savings. Over the first nine months of operation, the insurer achieved approximately USD 25.032 (AUD 35.000) in cost reductions, largely due to optimized infrastructure and local card routing. The company anticipates reaching total annual savings of around USD 35.735 (AUD 50.000) as these benefits continue to materialize.
The transition has also facilitated access to local payment methods in both countries, automated reconciliation processes to minimize manual intervention, and enhanced fraud prevention through machine learning. This consolidation has further reduced administrative overhead compared to the previous multi-provider system.
Sector-Wide Challenges
Adyen’s Australia Insurance Report 2026 highlights that over half of insurers (51%) still depend on manual processes and legacy systems, while nearly all (93%) report that fraud costs them up to 5% of their annual revenue. These insights underscore the significant operational and financial burdens associated with fragmented payment and risk management.
Strategic Move
For Cover, transitioning to a unified platform addresses both cost reduction and complexity management. This shift enables automated payments, simplifies reconciliation processes, and paves the way for additional payment services as the insurer grows its regional presence.
Hayley Fisher, Adyen’s Country Manager in Australia, noted that insurers are increasingly pressured to reduce operational complexity while maintaining seamless transaction reliability, making platform consolidation a fundamental improvement rather than an incremental one.
Cover is exploring further payment capabilities on the Adyen platform, though details and timelines have not been released officially yet.
