The acquisition marks CarTrawler’s strategic entry into insurtech, enhancing its Connect platform with a suite of flexible, high-demand travel insurance products. Koala, known for its API-first technology and customer-focused approach, provides products such as “Cancel For Any Reason” and automatic trip disruption cover, already used by more than 70 travel partners across 17 countries.
CarTrawler said the deal responds to growing demand from airline and travel partners for ancillary products that integrate directly into booking flows. By embedding Koala’s insurance solutions, partners are expected to see higher attach rates and new revenue streams while offering travellers faster claims processing, flexible refund options, and a smoother booking experience.
“The demand for B2B travel ancillary solutions continues to increase, with our travel partners asking us to add these solutions to our offering,” said Peter O’Donovan, CEO of CarTrawler. “The acquisition of Koala is a further step toward fulfilling our ambition of becoming the leading multi-product ancillary platform for the global travel industry.”
Koala is recognised as an innovator in the insurtech sector, having launched the world’s first Parametric Flight Disruption Insurance and “Modify for Any Reason.” Its products have been sold to travellers in more than 140 countries, with partner airlines reporting an average 77% increase in insurance sales in the first year of adoption.
CarTrawler highlighted the growing importance of travel insurance in airline revenues, which account for nearly 15% of total income according to its Yearbook of Ancillary Revenue. With global travel insurance projected to double in market size by 2030, the acquisition positions CarTrawler to capture a larger share of the sector’s growth.
Recent partnerships with American Airlines, Qantas, Jet2.com, and Virgin Australia build on CarTrawler’s existing client base, which includes easyJet, Uber, United Airlines, and American Express. The company works with over 250 travel brands and 70 airline partners worldwide.
“This is just the beginning,” O’Donovan added. “We are strengthening the Connect Platform and expanding our proposition to become a multi-product platform. Between this acquisition and capitalising on recent partner wins, we are positioned for phenomenal growth in the years ahead.”
