nib to grow market share under new whitelabel health deal
We've further strengthened our whitelabelling capabilities joining forces with Fairfax Media New Zealand (Fairfax) to launch a new health insurance brand in the New Zealand market - Done.
Under the relationship, New Zealanders will be able to purchase a range of specifically tailored health insurance products from Fairfax, with nib acting as the underwriter.
Our CEO, Rob Hennin, said the strategic distribution alliance is a major opportunity for nib to build its market share.
"This partnership allows us tap into Fairfax's significant media platforms which reach 3.4 million New Zealanders each month," Mr Hennin said.
"It's a great opportunity for us to access some of the 70% of Kiwis who are currently living without private health insurance," he added.
Joining forces with one of New Zealand's most recognisable brands is a significant addition to our whitelabel portfolio that already features AA Health in New Zealand as well as Qantas and the Suncorp Group of brands in Australia.
"We've invested heavily in recent years to build our whitelabelling capabilities to partner with companies like Fairfax, as such alliances are an important component of our multi-distribution channel business strategy," Mr Hennin said.
"This new relationship is another example of our commitment to growing the New Zealand private health insurance industry and in turn, our share," he added.
Fairfax Chief Executive Officer Sinead Boucher said they approached nib to deliver their new health insurance solution as they believed the health insurer had the expertise and proven track record of continually innovating to provide world-class products to its customers.
"The launch of Done is another string to our bow in terms of our business diversification. We are looking forward to providing Kiwis with peace of mind that their future healthcare needs are covered," Ms Boucher said.
"nib was the perfect fit to help us deliver on this promise due to their quality customer service and comprehensive range of health covers," she added.
Under the partnership, Fairfax will promote the Done products through its extensive distribution channels while nib will take care of all sales, customer service and claiming requirements.