New travel insurance set to shake up Aussie offering

New travel insurance set to shake up Aussie offering

Aussie travel insurance is set to be disrupted with a bit of new competition.

The Australian arm of global insurer Tokio Marine Group has launched a new consumer travel subsidiary; World2Cover.

World2Cover is set to shake up the highly competitive travel insurance market by offering a best in class policy. Australian families in particular will benefit from the fresh levels of cover available, with access to strong options for the little ones.

Of the 27 areas of cover, World2Cover offer the top benefits in 23 categories against their key major competitors. All policies will be underwritten by one of the top ranking non-life insurance companies worldwide, with an aim to keep costs competitive.

In 2014, outbound travel insurance in Australia was worth approximately $772 million, with an annual growth projection sitting at 1.5% over the five year period to 2019.

World2Cover will offer customers global coverage, winter sports options, family benefits and a simple claims process.

The launch marks global Tokio Marine Group’s first foray into the consumer market in Australia, a sign that Australia’s consumer business needs some challenging.

The team down under at Tokio Marine Management Australasia Pty Limited (TMMA) is leading the worldwide charge, being the first office of the firm outside of Japan to offer direct consumer travel insurance online.

The World2Cover portfolio will expand over the next four to six weeks, with new products including:

  • Basics
  • Essentials
  • Premium (the current product in market)
  • Domestic Travel Insurance

“We are extremely excited to be entering this new area of the market,” TMMA’s coo and executive director Claudio Saita said.

“Whether our customers are skiing off-piste or travelling as a young family, our comprehensive, all-inclusive policies will allow our clients to really make the most of their travels.”

“World2Cover is not a faceless insurer, but one that offers a policy that will cover you in a time of need, directly engaging with our customers to make their claims process as easy and straightforward as possible.

“Our features of rich product, combined with our leading customer service, will leave them secure in the knowledge that they are fully covered should anything happen.

But how do the product benefits compare? Unpacking it for you, World2Cover offers:

  • Unlimited medical and hospital cover when you are travelling overseas
  • Unlimited cover for cancellation fees if the unexpected happens
  • Market leading levels of cover for your children and grandchildren under 25 when they are travelling with you
  • Optional extra ski insurance for those needing a little extra cover
  • 24 hour emergency help anywhere in the world if things go wrong
  • We’ll get your dependents home safely if you can’t
  • New for old replacement of luggage
  • A simple claims process with no complicated forms
  • Multi-trip policies and loyalty discounts for your next trip

And to celebrate the launch, the new products are available to consumers with a special promotion of 20% off their normal rate.

Latest News

  • Aviation

Qantas soon to open enhanced Broome Regional Lounge

Qantas customers travelling through regional Western Australia will soon enjoy an enhanced airport experience with the development of the new Broome Regional Lounge starting today. Due to open in December 2024, the new space will be double the capacity of the existing lounge following consistent strong demand from premium travellers to the area, in addition […]

  • Events

Bookings now open for Nyaal Banyul Geelong Convention and Event Centre

The Nyaal Banyul Geelong Convention and Event Centre is now taking bookings for 2026 and beyond. Currently under construction on the Geelong waterfront, the property offers 3,700 sqm of versatile event space, including a 1,000-seat theatre. Venue details, including floorplans and video flythroughs are already released on the venue website. The precinct will host a […]

  • Cruise
  • News

Australian Cruise Association confirms Board of Management with NSW Ports boss as chair

The Australian Cruise Association has confirmed its Board of Management for 2025 with Port Authority of NSW’s Philip Holliday remaining in his position as Chair for the next 12 months. He is supported on the executive committee by Brendan Connell, Port of Brisbane, deputy chair and James Coughlan, Shorex Australia as Treasurer. Kristy Little, Tasports, […]

  • Events

Business Events Victoria encourages applications for regional business events funding

Business Events Victoria is encouraging conference and event organisers to apply and make the most of all regional Victoria has to offer. The funding is part of the Regional Business Events Program, which is being delivered by Business Events Victoria in partnership with Melbourne Convention Bureau. The program supports national and international businesses to host […]

  • Destinations
  • Tourism

Club Med offers savings on its Japan ski resorts

Club Med is offering big savings for travellers looking to book a last-minute ski holiday to Japan, with travel agents able to secure up to 20 per cent off for clients at their pristine ski resorts. Travellers can take advantage of this offer from now until 12 October for travel between 29 November 2024 and […]

  • Destinations
  • News

Travel Portland returns to ANZ with trade program

Travel Portland will be pushing an always-on trade program, re-establishing connections with key trade partners and coordinating agent famil trips as part of push around the Visit USA Expos in Australia/NZ. “We are excited to be back in the Australian market after a hiatus of several years as a result of the pandemic,” Travel Portland […]