HCF ends Flip Insurance five years after we called it

HCF will discontinue its Flip Insurance product line, with new purchases and subscription renewals ending on August 1, 2026, as the Australian insurer shifts its focus to other innovation initiatives. Existing policies will remain in force until their expiry, and claims will continue to be handled as usual.

Flip launched in 2021 as an on-demand accidental injury insurance brand offering daily, weekly, and monthly cover aimed at active Australians. At the time, HCF positioned the product as a flexible alternative to traditional accident insurance, allowing customers to switch coverage on and off as needed.

Coverager covered the launch in 2021, comparing Flip to startups including Spot Insurance, Buddy, and Kiwi Insurance, while questioning whether copying an emerging category was enough to build a lasting business. Five years later, the category looks very different. Kiwi is inactive, Buddy has pivoted to a digital commerce platform that helps insurers turn product rules, pricing, and workflows into modern buying experiences, Spot has shifted to a B2B2C model, and its business is roughly half the size it was two years ago.

Bottom Line: Here.