Adyen drives payments efficiency for 1Cover

Adyen has expanded its partnership with 1Cover to modernise the insurer’s payments infrastructure across Australia and New Zealand.

The upgraded system aims to support scalability, streamline operations, and enhance customer experience as 1Cover continues to grow its travel insurance business in the region. Founded in 2003, 1Cover was an early provider of online travel insurance in Australia and today serves millions of customers across both markets.

As the company expanded, it relied on multiple payment providers, leading to increased operational complexity. By consolidating its payments stack onto Adyen’s platform, 1Cover now benefits from access to local payment methods, automated reconciliation, and machine learning-based fraud prevention tools.

According to Adyen’s Australia Insurance Report 2026, 51% of insurers still depend on manual processes and legacy systems, while 93% report fraud-related costs of up to 5% of annual revenue. The partnership aims to address these challenges through a unified and technology-driven payments approach.

Since migrating to Adyen’s platform in May 2025, 1Cover has reported measurable improvements. Over the first nine months, the company achieved savings of approximately AUD 35,000, driven by efficiencies such as local card routing. Annual savings are expected to reach up to AUD 50,000 as the system scales.

Hayley Fisher, Country Manager for Australia and New Zealand at Adyen, said: “Consolidating payments onto a single platform helps reduce complexity, lower costs, and support sustainable growth, especially as insurers face increasing operational pressures.”

Natalie Ball, Managing Director at 1Cover, added: “The partnership has enabled us to simplify payments for customers while reducing costs without compromising performance.”

The new infrastructure also delivers automated reporting and reduced manual intervention, with 1Cover exploring additional payment capabilities as it continues regional expansion.