1Cover has deepened its partnership with global fintech Adyen (AMS: ADYEN). The collaboration introduces a unified, high-performance payment platform tailored for operations in both Australia and New Zealand, aiming to boost scalability, cut operational hurdles, and deliver a better experience for policyholders.
Established in 2003, 1Cover emerged as an early innovator in online travel insurance within Australia.
Today, the company safeguards millions of travelers from Australia and New Zealand, offering comprehensive protection during their journeys.
However, as the business expanded rapidly, its previous payment arrangements—reliant on several separate providers spread across regions—created growing layers of complexity and escalating administrative expenses.
This challenge reflects a broader issue facing the insurance industry.
Recent findings from Adyen’s Australia Insurance Report 2026 highlight that more than half of insurers (51 percent) continue to depend on manual workflows and legacy technology.
Additionally, 93 percent report that fraud-related losses can consume up to 5 percent of their yearly revenue, underscoring the drawbacks of disjointed payment and risk management setups.
Through its alliance with Adyen, 1Cover has streamlined its entire payments ecosystem under one global platform.
This shift provides seamless access to region-specific payment options in Australia and New Zealand, automates reconciliation processes to minimize hands-on tasks, and incorporates advanced machine-learning tools for fraud detection.
These features not only enhance checkout reliability but also uphold stringent security standards without added friction for customers.
The platform went live in May 2025, and early results have been promising. In its first nine months, 1Cover realized savings of roughly AUD 35,000, largely thanks to optimizations such as localized card routing.
The company anticipates these efficiencies could reach up to AUD 50,000 on an annual basis as the system matures and scales further.
“Payments are central to the customer journey in insurance, especially when trust, speed, and dependability are essential,” noted Hayley Fisher, Adyen’s Country Manager for Australia and New Zealand.
She emphasized that unifying payments on a single platform enables insurers to simplify operations, control expenses, and fuel enduring business expansion amid pressures to optimize resources.
Natalie Ball, Managing Director of 1Cover, said:
“Our collaboration with Adyen has eliminated major pain points in the payment process, allowing customers to complete transactions more quickly and effortlessly.”
She added that the partnership has lowered costs while preserving strong performance, positioning the company well for continued growth across the region.
In addition to financial gains, 1Cover now benefits from automated fund transfers, unified reporting dashboards, and significantly less manual oversight, all supported by a dedicated local support team from Adyen.
As the insurer eyes further regional expansion, it plans to integrate additional payment features to meet evolving demands.
Adyen serves as the preferred financial technology platform for major global enterprises, delivering comprehensive payment solutions, actionable data analytics, and integrated financial services in one unified system.
The company partners with leading brands worldwide and routinely refines its offerings to support merchant growth.
Meanwhile, 1Cover remains a standout specialist in travel insurance, celebrated for its innovative policies and customer-centric approach.
With overseas medical coverage, round-the-clock emergency support, no upper age restrictions on most plans, and options for pre-existing conditions, the provider continues to deliver reassurance to travelers at critical moments. This partnership signals a step forward for digital transformation in the insurance sector, demonstrating how digital technology investments can drive cost savings and better service delivery.