Flip is a new episodic injury insurance company in Australia that allows customers to purchase insurance coverage for specific days when engaging in activities like mountain biking or surfing. Flip was created in 2021 as a venture by the not-for-profit insurance company HCF. Flip aims to make insurance more relevant, easy to use, and aligned with customers' values by allowing them to purchase coverage only for the days they need it. Flip has also launched partnerships and content to promote adventure and a charitable program where claims payments are donated to environmental causes. The unique on-demand insurance model is driving innovation in the industry and attracting customers through new digital and social media distribution channels.

1. Welcome to the Flip
side of insurance
Flip Insurance Information Pack
2022

2. 2
We think insurance is boring, inflexible,
unrewarding and disengaging. So we are
flipping the industry on its head
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3. Where did Flip come from?
Flip is a new insurtech business that was built in 2021 as a corporate venture by the not for profit
insurance giant HCF.
The Objective
We set out to build an injury insurance business for the 50%+ of Australians that do not have private
health insurance and who are disengaged, confused and tired with the traditional insurance players.
The Insight
Young Aussies are underinsured and face large unexpected out of pocket expenses if and when they
have accidents that require medical support or which have knock on cost impacts to their lives.
But the new generation of consumers want the products they buy to be relevant, easy and consistent
with their values.
Relevance: Why should consumers pay for insurance when they don't feel they need it or at
times when they feel at low risk?
Ease: Why should consumers have to read through pages of dull PDS documents and exclusion
lists to figure out what they can and can not claim for?
Value & Purpose: Why should consumers feel like insurance is a grudge purchase and feel a
distrust towards insurance companies?
Flip is changing all of this!

4. Flip is a game-changing insurance business built within a
year
At Flip, we have created one of the world's first episodic injury insurance products that consumers can 'switch on and
switch off'.
Going on a mountain bike ride? Switch Flip on for the day and unlock up to $20,000 paid in cash if you get injured (and
depending on the injury of course!)
Flip launched in October 2021 with a 'Day Pass' product, an 'Always On' subscription product and a 'boost' function that
allows subscribers to double their cover for selected days.

5. Our approach is entirely different
The ability to turn on and off fundamentally changes our relationship with consumers from ‘grudge purchase, set and forget’
to an ‘engaging, inspiring and there in the moments that matter’.
Flip is about more than just selling insurance. We want our members to do more of the things they love! So we are partnering
with racing events, triathlons, climbing gyms. We build content to help people learn about new skills and activities and we
sponsor ambassadors who compete at the top of their adventure fuelled fields.
Bec McConnell
3X Olympian Mountain Biking
Michaela Davis-Meehan
Freeride World Tour Snowboarding
Nero Continental Elite Cycling Team

6. Our approach is entirely different
Consumers can sign up to a free flip membership which allows them to access exclusive content, competitions and of course,
the ability to activate cover whenever required.
Note that when a customer switches off cover, they have not churned as they might turn on cover again the next day. This
fundamentally changes the acquisition funnel of insurance and the definitions of traditional metrics such as churn and
retention.
Brand
Inspirational
Purpose driven
Connected to adventure
Product
Easy and simple
Integrated
Valuable
Flip Free
Community

7. 7
We also have a purpose…
We are backed by not for profit giant HCF. So we are proud to be purpose
driven.
Our members are adventure enthusiasts who appreciate the outdoors, and
we are too.
So we have made a commitment to tying our business model, specifically
our loss ratio, to a charitable giveback scheme focussed on driving positive
environmental impact.
Claims Pool
Claims paid to
members
Donations to
environmental cause

8. 8
Traction and Impact
Flip is still new in the market, but is making waves for being the first of its kind, a
new breed of insurtech companies looking to offer young consumers a purpose
driven, relevant and affordable product.
The results of this innovation are breaking through across a number of topics:
Perception
We are starting to reposition insurance in the minds of young people around the
world, turning insurance into something relevant, connected and even cool!
Distribution channels
We selling insurance through new channels in new ways (influencers, sports
events, charities, instagram etc...)
Digital experience
>90% of our claims have been paid within 24 hrs and members can sign up in <2
minutes.
Insurance product innovation
We have managed to build a first of its kind episodic insurance product from
scratch and brought it to market in less than 6-months.

9. 9
So why should Flip be considered?
We have a unique product
Flip has built a unique injury insurance product that, for the first time, consumers can turn on and
book for specific days they are heading to do high risk activities. Flip has also built a unique boost
function that allows members to turn up cover for specific days or book boosts for future days. This
means our members are not paying for cover when they are sat on their sofas watching Netflix, but
when they are actually heading to the climbing wall, the surf break or the mountain path.
We are a digital only insurance business
Flip has created a unique digital experience that allows members to sign up and have cover start
within 2 minutes. The claims experience is no less impressive, with 90%+ of claims having been paid
out within 24 hours. Flip have also incorporated a free membership structure which is unique within
the insurance space and fundamentally changes the traditional acquisition and retention of
customers.
We are selling insurance in new and relevant ways
Flip is not being distributed using traditional insurance channels, but is investing in adventure
fuelled ambassadors, elite sporting teams, engaging social content, blogs and partnerships.
Unique Purpose
We are purpose driven and ultimate want to help people and the planet
We do not exist to profit shareholders, rather we exist to benefit our members. In doing this we strive
to offer affordable protection, we drive participation and exploration, and tie our business model to
giving back to the environment.

10. Thank you
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Reach out at anytime!
Chris.Borrett@getflip.com.au (Co-Chief Officer, Flip)
Kathleen.weaver@getflip.com.au (Co-Chief Officer, Flip)