nib enters distribution partnership with Australian bank

nib enters distribution partnership with Australian bank | Insurance Business Australia

nib enters distribution partnership with Australian bank

nib health funds (nib) are underwriting the health insurance of ING Bank of Australia Limited (ING) as part of their distribution partnership.

With the deal, ING has joined nib's established line-up of white-label partnerships that have contributed to the insurer's long track record of policyholder growth.

“We've developed a market leading white-label capability, and today, this channel accounts for about 20% of all our health insurance sales,” said Ed Close, nib chief executive, Australian residents health insurance.

“With more than two million customers, there is great potential for us to connect with ING's existing customer base and offer affordable health insurance.

“It's a great example of how two businesses can work together to better connect and empower Australians to finance and access healthcare.”

The range of ING health products is now available via the company's distribution channels.nib will act as the underwriter, including member service and claims handling.

Read more: nib introduces flexible work arrangement

Aside from working with ING, nib Group (Group) has other new health-focused projects this year.

In its 2021 Sustainability Report, the insurer detailed its latest health initiatives:

  • Over $2.7 million in funding for numerous community health initiatives, including through the Group's charitable organisation, nib foundation;
  • Supporting Ngāti Whātua Ōrākei iwi members through health management programs and introduction of Kaiārahi (iwi health navigators); and
  • Kicking off its Payer to Partner (P2P) journey to become a true health partner for its members.

The Group has also published its inaugural Modern Slavery Statement and introduced its first-ever Diversity and Inclusion Action Plan to foster a sense of community.