Europ Assistance Australia Gains APRA Approval to Underwrite Travel Insurance

Previously, EAA's travel insurance products were underwritten by third-party carriers. With this new licence, EAA can now manage product design, pricing, and risk directly within the Australian regulatory framework. This shift is expected to enhance the company's ability to tailor insurance solutions that closely align with the evolving needs of Australian travellers.

Justin Sebire, CEO of Europ Assistance in Australia and New Zealand, highlighted that securing their own licence strengthens their ability to deliver on their mission to assist travellers from distress to relief with greater speed, care, and accountability. The licence also provides EAA with the flexibility to design and deliver products that are closely aligned with how, where, and why Australians travel, ensuring that relevant, modern, and future-ready insurance solutions are available.

For Australian travellers, this development signifies a more streamlined and responsive insurance experience. EAA's direct underwriting capability is anticipated to lead to more competitive pricing, innovative product offerings, and enhanced customer service. Travellers can expect insurance products that are more attuned to their specific needs, whether they are embarking on domestic trips or international adventures.

As the travel industry continues to navigate the complexities of a post-pandemic world, the ability of insurers to adapt and respond to changing traveller behaviours and expectations is crucial. EAA's move to underwrite its own policies positions it as a more agile and customer-focused player in the Australian travel insurance market.