Flip offers group cover plans for gyms, yogis, ski resorts
Flip Insurance, this year’s Finder Best Insurance Innovation award winner, has added Flip Group Active – group insurance plans for sports, adventure and wellness businesses – to its range of cover.
Pricing starts at $2 per day per person, and eligible claims are paid in cash within days with no excess. Flip says it fills gaps in Medicare and private health insurance for active Australians.
Flip, a wholly owned subsidiary of HCF Life, was launched in 2021 in partnership with BCG Digital Ventures (BCGDV), part of The Boston Consulting Group, with on-demand injury insurance available for as little as $6 a day.
The new product enables Australian businesses to provide customers with protection from the cost of accidental injuries, Flip says, “whether they’re a gym owner, sports competition organiser, ski resort or yoga studio where their customers are at risk of injury”.
Flip Head of Growth Zac Hancock says the fear of getting injured, and the potential associated costs, are holding Australians back from being active.
“That’s why we’ve introduced group insurance plans so that Aussie businesses can flip the way they think about insurance for their customers without the typical red tape,” he said.
“Flip Group Active easily integrates accidental injury cover into a business' core product offer to add value and protection without the mountains of paperwork and long wait times. Their customers come directly to us to make a claim to free them up to keep focusing on growing their business.”
Flip Group Active provides cover for common injuries caused by accidents, and the payout depends on the severity of the injury, such as whether it requires an x-ray, a cast, or a stay in hospital – up to $50,000 cumulatively.
Flip won the award for Best Insurance Innovation in the 2023 Finder Innovation Awards, beating finalists Honey Insurance and Butter Insurance. Health insurer ahm won Best Tech Innovation.