Irish B2B traveltech company CarTrawler has acquired Paris-based insurtech Koala to expand its range of high-margin ancillary services into travel insurance, beyond car rental and mobility. This acquisition enhances CarTrawler’s position as a leading platform for embedded travel services, leveraging the growing global demand for flexible insurance products.
CarTrawler integrates car rental and mobility options through its Connect Platform, collaborating with 250 global travel brands. Koala, known for its API-first, automation-led insurance approach, marks CarTrawler’s entry into the insurtech sector.
“The demand for B2B travel ancillary solutions continues to increase, with our travel partners asking us to add these solutions to our offering,” stated Peter O’Donovan, CarTrawler CEO.
Integrating Koala’s insurance solutions, including Cancel For Any Reason and Parametric Flight Disruption Insurance, positions CarTrawler in direct competition with other travel insurtechs focused on simplifying customer coverage and reducing friction.
Koala’s model eliminates traditional insurance hurdles like lengthy claims and limited refunds. Its automated, documentation-free approach offers instant claim decisions and flexible reimbursements, utilized by over 70 travel partners in 17 countries.
CarTrawler views Koala’s insurtech capabilities as complementary to its strategy of maximizing conversion and ancillary revenue for partners. The Connect Platform now allows travel brands to offer comprehensive, embedded products during booking with minimal development resources.
The travel insurance sector is experiencing rapid growth due to increased consumer demand for flexibility and post-pandemic macro trends.
According to CarTrawler data, airlines derive nearly 15% of total revenue from ancillary services, with insurance emerging as a significant contributor, especially with flexible coverage options.
CarTrawler’s recent partners include American Airlines, Jet2.com, Qantas, and Virgin Australia, supplementing its connections with easyJet, eDreams ODIGEO, Uber, United Airlines, and American Express. Its platform links over 2,200 car rental and mobility suppliers across 50,000 locations in more than 150 countries.