Flip offers digital on-demand insurance for accidental injuries, with 54 per cent of customers using it for snowsports. But as the summer begins in Australia, the insurtech has arranged partnerships with Thredbo Resort and Mt Buller to cover activities like mountain biking.
There are two main cover options from Flip: a day pass for A$6, or an ‘always on’ subscription for ongoing protection costing $9 per week. It can be cancelled at any point and has a ‘Boost’ option to double the payout rates for $6 extra on any chosen day. There is no waiting period, nor cancellation fee.
Unlike health insurance, Flip says it just covers specific injuries caused by accidents, with policyholders receiving cash payouts directly.
The cover offers $20,000 for injuries where the loss is total and irreversible, and hearing and sight which can’t be corrected; $2,000 is provided for surgeries that require hospital admission or major dental treatment; and $200 for sprains and strains, wounds needing stitches or ongoing care, minor dental injuries, broken bones and dislocated joints that don’t require surgery.
The insurance needs to be in place before injury occurs, while policyholders must see a health professional within 14 days of an accident to make a claim.