Berkshire Hathaway Travel Protection underwrites Cover-More’s launch of Direct Travel Insurance in the U.S.
Berkshire Hathaway Travel Protection (BHTP) announces today the agreement to underwrite Cover-More’s (ASX: CVO) direct travel insurance product launch in the U.S. The business relationship teams BHTP with Cover-More, an Australian-based provider of travel insurance throughout multiple countries around the world. The agreement allows Cover-More to sell travel insurance products and services to U.S. travellers taking domestic and international trips.
“This is a unique opportunity to align with an organisation that shares our commitment to leveraging technology to provide the best experience for travellers. This is the first step towards an alliance that continues our promise to revolutionise the travel insurance industry,” said Dean Sivley, president of Berkshire Hathaway Travel Protection.
The strategic business relationship leverages BHTP’s claims processing and real-time payment platform, BHTP Burst, with Cover-More’s proprietary online optimisation platform, Impulse. BHTP’s multi-payment platform can reimburse travellers for covered claims in seconds. Cover-More’s Impulse technology integrates with e-commerce websites and travel booking engines to offer insurance options specifically tailored to individual travellers and their specific trip.
“The two companies complement one another very well—BHTP’s product, customer service excellence and claims innovation combined with our predictive intelligence solutions are the perfect combination to provide travellers with innovative, tailored insurance products for their trip,” commented Carole Tokody, CEO of Cover-More Group for North America and Canada.
Cover-More already provides travel insurance and medical assistance in Australia, New Zealand, China, India, Malaysia, Singapore and the U.K. The new alliance with BHTP extends their global direct offering to the U.S., one of the largest markets for travel insurance. In addition, Cover-More has relationships with several international airline carriers who can extend these same BHTP products to their U.S.-based travellers heading abroad.