Hollard-owned PetSure’s on-the-spot in-clinic claiming platform GapOnly has won a Canstar Innovation Excellence Award.

GapOnly allows customers to only pay the gap between the vet bill and what their insurance policy covers.

“The judges deemed this innovation to have a significant impact on policyholders, reducing some bill stress as they are less likely to be out-of-pocket for potentially large sums of money,” Canstar said, recognising the claims service as “unique and convenient” for pet owners.

Some 32 entries were submitted from the financial services industry for this year’s awards, with six chosen as winners.

GapOnly is currently available at more than 600 participating veterinary clinics Australia-wide.

Canstar says “the ‘wow’ factor is one of several key things the judges looked for in a financial product when picking this year’s winners”.

“Many of the innovations received this year demonstrated a particular focus on speed and streamlining, to offer consumers a frictionless experience.”

PetSure covers 500,000 Australian pet owners and underwrites more than 30 brands, including IAG, AAMI, Woolworths, RSPCA, PetBarn, Guide Dogs, Medibank, Bupa and HCF.