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About HBF

Canstar award recognises HBF innovation

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CANSTAR AWARD FOR HBF INNOVATION

Among the confusing array of health insurance products, one extras product from HBF has been named as a standout in CANSTAR’s 2014 Innovation Excellence Awards.

HBF’s Easy 8 health insurance cover has been singled out for special praise by CANSTAR in their 2014 Innovation Excellence Awards. Easy 8 was the only health insurance product, and HBF the only health insurer, to feature in the awards’ financial services category which highlights product innovation in banking and insurance.

Launched in October 2013, Easy 8 is a general treatment health insurance product designed to cut the confusion around the bewildering range of health insurance products.  It was developed to be simple to understand and to give members access to the general services they needed, at a price they could afford. 

According to the CANSTAR judges, the product “simplifies what can be a maze of limits” and “represents quite a significant step forward in extras cover”. 

Easy 8 covers 8 popular extras services, covers 80% of costs, provides a combined limit of $800 per year and costs around $8 a week. As CANSTAR points out “It offers good value too. For $416 a year you can claim back $800 – almost double the premium!” 

HBF Managing Director, Rob Bransby said that since launching last year Easy 8 had been one of HBF’s success stories. 
“We set out to create a product that would appeal to people who till then had seen health insurance as too confusing and too expensive. CANSTAR’s recognition is confirmation that we have hit the mark with Easy 8”, Rob said.  

CANSTAR Research Manager, Mitchell Watson, said that Easy 8 was one of the standout performers in a competitive field. “Among consumers, one of the common complaints with regards to health insurance is the complexity of products,” he said. “If it is too difficult to understand there is a risk that consumers will simply not take out private health insurance at all. As a product, Easy 8 simplifies the name, the cost, the services covered and the benefit limits. It had the “wow” factor that our Research Committee was looking for.”

- ENDS -

For further information or to arrange an interview with an HBF spokesperson, contact Andrew Walton: (08) 9265 6181 / 0438 925 050 / andrew.walton@hbf.com.au 

CANSTAR media contact:  Justine Davies, Finance Editor & Commentator

(07)3837 4151 / Justine.davies@canstar.com.au

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