Australian life insurer TAL has partnered with global insurtech Cover Genius to launch backd, a digital-only, embedded life insurance product aimed at addressing Australia’s underinsurance problem.
The strategic partnership combines Cover Genius’ cutting-edge digital distribution capabilities with TAL’s deep expertise in life insurance to bring simple, affordable financial protection to a wider group of Australians – particularly part-time workers, contractors, and casual employees who often fall outside the scope of traditional insurance models.
The new offering is designed to be seamlessly integrated into payroll and HR platforms, allowing employers to offer Life, Income, and Illness protection via streamlined online sign-up processes, with no underwriting requirements and fully digital claims handling. By embedding insurance into systems Australians already use, the initiative aims to close a critical coverage gap for millions of workers who lack access to traditional insurance through superannuation or employer benefits.
TAL Group CEO and Managing Director Fiona Macgregor said the partnership reflects a shared commitment to innovation and inclusion. “At the core of our Cover Genius partnership is ensuring more Australians who want and need insurance can get it. To do this, cover should be tailored to their needs, and be easy to access, understand and keep,” she said. “Life insurance is much more than death benefits. Last year, 74% of the 54,000 claims we paid supported the recovery of people with an illness or injury that prevented them from working. With backd, more Australians will get support critical to their recovery, addressing an important community need.”
Angus McDonald, CEO and Co-Founder of Cover Genius, said backd represents a significant opportunity to broaden access to life insurance through digital transformation. “Many people do not have life insurance either because they feel they cannot afford it, have not been offered it, or think the process will be too complex,” McDonald said. “backd overcomes these issues by giving employers a simple way to offer their employees easily accessible protection that suits their income and financial needs by embedding it into their existing HR or payroll platform.”
backd offers benefits of $100–$300 per day for Income Protection and up to $150,000 for Life Insurance. It is especially designed for workers who are not currently eligible for conventional insurance products, offering a practical solution for Australia’s underinsured workforce. Over time, TAL and Cover Genius plan to expand the availability of backd directly to consumers through partnerships with organisations in sectors such as health and banking.
The partnership also aims to tackle underinsurance among younger Australians – a demographic particularly underserved by traditional models. Research from Cover Genius indicates Australians aged 25–44 are more inclined to purchase “bite-sized” life insurance products and prefer digital channels. McDonald noted that backd aligns with these preferences, offering the right coverage, at the right price, through the right channel. “Making protection easy to understand, financially accessible, and simple to access online through employers and other trusted partners is a logical next step in levelling the life insurance playing field,” he added.
With an estimated one million Australians underinsured for death and total and permanent disability, and 3.4 million lacking sufficient income protection, the launch of backd signals a meaningful step toward making life insurance more inclusive, relevant, and accessible.
