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HCF Broadens Insurance Offering in New Allianz Deal

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HCF, the non-profit health fund, is now offering home and motor insurance products, thanks to an expanded partnership with Allianz.

Previously, HCF had an alliance with Allianz strictly for travel insurance, serving as an agent selling those products.

A recent survey conducted by HCF revealed that a substantial 95% of its members aged 25 and older focus on securing affordable insurance. This insight prompted the addition of home and motor insurance to HCF’s portfolio, designed to provide comprehensive, flexible, and value-oriented coverage.

"Given the current cost-of-living pressures, we understand that consumers are making vital budget adjustments," stated Lorraine Thomas, Chief Operating Officer at HCF. "They might be cutting back on car journeys to save on fuel or working from home more frequently. Our new car and home insurance policies are designed with these changes in mind, offering affordable and customizable cover to adapt to their evolving needs and budgets."

The home insurance options offered by HCF and backed by Allianz encompass buildings, contents, or a combination of both, providing flexibility in coverage. Motor insurance choices include both comprehensive and third-party options, catering to different customer needs.

Dan Tully, Allianz’s GM for consumer partnerships, emphasized that this collaboration reinforces Allianz’s commitment to providing dependable and trustworthy insurance.

"We are thrilled to work with HCF to bring value to their members through tailored insurance solutions. Our goal is to ensure a streamlined and efficient claims process, enabling members to quickly resume daily life, whether at home or on the road," Tully asserted.

According to the 2022-23 review, Hospitals Contribution Fund of Australia (HCF) has around 1.94 million members.

Published:Thursday, 18th Jul 2024
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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Knowledgebase

Loss Ratio:
The ratio of claims paid by an insurer to the premiums earned, used as a measure of profitability.

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