Zurich Financial Services Australia and Zurich Cover‑More have appointed AIG veteran Blain Waterford as head of travel for Australia and New Zealand, creating a dedicated leadership role for the group’s regional travel insurance activities. Waterford will be based in Sydney and will sit on the Zurich Australia & New Zealand leadership team. The remit covers Zurich’s travel operations in both markets, including Zurich Cover‑More and the Travel Guard business acquired from AIG in 2024.
Justin Delaney, CEO of Zurich Australia & New Zealand, said Waterford’s experience across different geographies and channels aligns with the business’s travel ambitions in the region. “Blain brings a global perspective, industry expertise, strong commercial leadership, and a proven ability to deliver customer‑focused outcomes at scale. As Australia’s only major composite insurer, we are confident he will play a key role in advancing our strategy and strengthening our position in the local travel insurance market,” Delaney said.
Waterford has worked in consumer insurance for more than 25 years across South Africa, Asia, Australia, and New Zealand. His roles have spanned direct, digital, and partnership distribution in accident and health, personal lines, and travel insurance. He joins Zurich from AIG, where he was global head of direct and digital marketing and accident & health partnerships, responsible for direct distribution across multiple international markets. Prior to AIG, he held senior positions at Chubb, including APAC regional head of direct marketing, consumer lines, and head of retail for Australia and New Zealand.
In his new role, Waterford will oversee strategy and performance for Zurich’s travel portfolio in Australia and New Zealand, working with airline, travel, banking, card, and retail partners across the region. Commenting on the appointment, Waterford pointed to changes in travel patterns and protection needs following the pandemic period. “This is a very exciting time in global travel protection, and through the enhancement of our unique capabilities in ANZ, we can continue to lead the market in delivering on the expectations of travellers,” Waterford said.
Zurich Cover‑More is Zurich Insurance Group’s global travel business. It operates a multi‑brand platform that includes Travel Guard, Cover‑More Travel Insurance, Travelex Insurance, Universal Assistance, World Travel Protection, Freely, and Blue Insurance. The unit works with thousands of distribution partners worldwide, including airlines, global travel companies, major retailers, banks, and credit card providers, and supports travellers across North America, Europe, Latin America, and Asia‑Pacific. Donna Dorairajoo, head of international, Zurich Cover‑More, said Waterford’s appointment is intended to support the business’s plans in Australia and New Zealand. “As Zurich Insurance Group’s global travel business, Zurich Cover‑More has a strong reputation for innovation, customer care, and specialist expertise. We know that Blain has the expertise to help our ANZ business to build on this momentum, strengthen our partnerships, and continue delivering protection and peace of mind for travellers across Australia and New Zealand,” Dorairajoo said.
The leadership change comes as travel insurance continues to expand globally, supported by the rebound in tourism and broader adoption of travel protection products. Research from The Business Research Company indicates the global travel insurance market is expected to grow from US$30.77 billion in 2025 to US$35.97 billion in 2026, at a compound annual growth rate (CAGR) of 16.9%. The market is forecast to reach US$66.67 billion by 2030 at a CAGR of 16.7%, with growth linked to increased international travel, higher medical treatment and disruption costs, and the spread of online and mobile distribution channels. Tourism flows are a key driver. The United Nations World Tourism Organization has reported a continued recovery in international arrivals, with 1.3 billion trips recorded in 2023, up 34% on 2022. This has reinforced demand for cover for medical emergencies, cancellations, delays, and baggage issues, including among travellers from and to Australia and New Zealand.
For insurers and intermediaries active in travel, technology is reshaping product design, pricing, assistance, and claims. Market analysts highlight the use of AI‑enabled assistance platforms, real‑time policy issuance, data‑driven underwriting, and API‑based integration with airlines, online travel agencies, and financial institutions. There is also increasing development of on‑demand and micro‑duration policies and more tailored cover options. Asia‑Pacific has been identified as both a large and fast‑growing region for travel insurance, reflecting rising outbound travel from several markets and steady inbound flows. Against that backdrop, Zurich’s appointment of a dedicated head of travel for Australia and New Zealand positions the group to coordinate its Zurich and Cover‑More travel operations as demand evolves across corporate, retail, and partner‑distributed segments.
