Insurtech company Flip experiencing increasing interest from sport and fitness industries

Australia’s first on-demand accidental injury insurance company, Flip, is experiencing an increasing interest in its single-day injury cover from within the sport and fitness industries.

With a mission to empower its customers to live a more active lifestyle, it’s no surprise that the product has been of particular interest to younger audience groups. Approximately 50% of Flip’s customers are under the age of 30, demonstrating a strong need for flexible cover. This is closely followed by gym-goers and cyclists as the next most popular customer activity segments (30%).

Announcing its ongoing partnership with resort operators, Thredbo Resort and Mt Buller, as the snow season concludes and the summer mountain biking season is fast approaching, Flip as the first-of-its-kind insurtech, will cover more individuals seeking protection from injury through its simple and straightforward sign-up and claims processes through a series of summer partnerships.

To add to the true on-demand offering, Flip has recently launched its new Flip Insurance App available via the Apple and Google Play store for IOS and Android users, making it even easier to turn Flip on, on the go.

With the goal of reinventing what can be a typically slow and clunky claims experience that customers expect from traditional insurers, Flip has recorded its fastest ever injury insurance claim in under three-minutes.

Since its launch in 2021, Flip has witnessed an overwhelming interest for its on-demand protection with more than 160,000 individuals visiting the website, and over 4,000 users signing up for an account. The local born brand has also expanded coverage to include Australians visiting New Zealand and non-residents living in Australia, providing equal access for protection to all individuals. 

With a mission to empower its customers to live a more active lifestyle, it’s no surprise that the product has been of particular interest to younger audience groups. Approximately 50% of Flip’s customers are under the age of 30, demonstrating a strong need for flexible cover.

Kathleen Weaver, Chief Officer at Flip advised “our switch on and switch off insurance allows our customers true peace of mind when pursuing sports and activities, from extreme adventure to going on your regular Saturday morning cycle. Insurance should be simple and affordable, and fit with your lifestyle so you’re not worrying about possible injuries. This is where Flip is helping to fill the market gap with industry-first insurance designed to be different.”

Richie Carroll, Brand and Marketing Manager from Thredbo adds “we had an amazing winter season that saw our resort in full operation in Thredbo. As we welcomed skiers and riders back to incredible snow conditions, it was the perfect time to partner up with Flip to help keep our guests safe with its simple flexible sports insurance. As our focus turns to the summer mountain biking season, we’re really excited to continue this partnership with Flip to help more people enjoy biking activities with added peace of mind.”

Tapping into Flip’s flexible sport insurance offering, the company has signed on multiple sporting partners including O2 events as a Silver Partner which saw over 100 participants take up a $2 Day Pass offer for Amy’s Great Ocean Road Grand Fondo in September and acting as the Official Insurance Sponsor of Blackmore’s Sydney Running Festival.

Later this month, Flip will be sponsoring Noosa Triathlon and the Ultra-Trail Australia event in the Blue Mountains.

Flip has recently been proudly nominated as a finalist in the Finder Innovation Awards for Best Insurtech Innovation, recognising insurance brands who are looking to disrupt the industry with unique approaches to insurance problems.

Customers can access Flip’s 'Always On' injury insurance for just $9 a week or $6 a day and can be turned on and off as needed. Users can now download the app on Android and IOS for easy access.

Flip is a is a wholly owned subsidiary of HCF, Australia’s largest not-for-profit health insurer. HCF launched the business in partnership with BCG Digital Ventures (BCGDV), the corporate innovation and digital business-building arm of The Boston Consulting Group. Kathleen Weaver and Chris Borrett jointly led the venture and were appointed in 2021 as co-Chiefs.

Image top: Thredbo Resort, Snow Series BIG AIR August 2022; Image: Kathleen Weaver and Chris Borrett jointly led the venture and were appointed in 2021 as co-Chiefs.