nib – Everything you need to know
nib is the second largest health insurer in New Zealand, and exclusively specialises in health products covering hospital treatments, everyday health and travel. It covers over 1.5 million people across Australia and New Zealand, and has over 65 years’ experience of offering products in the health space.
Customers have the option of tailoring their cover according to what they need, and nib offers a 14 day “free look” period where customers can cancel their policy for a refund if they decide the cover isn’t right for them.
According to its website, nib aims to be “a trusted partner in helping members and travellers make more informed healthcare decisions, transact with healthcare systems and generally live healthier lives.”
Brief history of nib
nib New Zealand is part of nib group, an Australian healthcare fund established in New South Wales in 1952 to provide health insurance for workers at the BHP Steelworks. At the end of 2019 it had over 1,500 employees and a net income of AU$149.3 million.
nib group set about expanding its business globally in 2010, and in November, 2012, it acquired New Zealand health insurer TOWER Medical Insurance from its parent company, Tower Insurance, for AU$80 million. nib New Zealand currently provides health insurance to approximately 160,000 New Zealanders.
In November 2015, nib New Zealand acquired the OnePath medical business, with OnePath managing its medical policies on behalf of nib while the business was transitioned. nib took over all aspects of OnePath’s day to day policy management in June 2016.
nib New Zealand launched an online search and comparison service called Whitecoat in 2018, a service which it had already trialled and used in Australia since 2013. The service allows users to review healthcare professionals such as dentists, physiotherapists and GPs, and to search and read other patients’ reviews - a service which has been likened to TripAdvisor for the healthcare sector.
Leadership at nib
Rob Hennin – CEO
Hennin has been with nib New Zealand for almost seven years, having joined in May 2013 as director and CEO of the company. He is also a director at the Insurance and Financial Services Ombudsman (IFSO), and was previously a Member of the Board at the Health Funds Association New Zealand.
Hennin spent a year as the company director of Tower Medical Insurance before the operation was bought by nib, where he took on the lead role at the newly merged company. His other experience includes being a director across Australia, India and the USA for American Express, where he spent almost six years, and a regional head in Singapore for Visa.
He graduated with a BA in Economics and Geography from the University of Otago.
Culture at nib
nib supports a range of events, organisations, health-related programmes and initiatives across New Zealand, with each partnership aiming to help promote healthy and active lifestyles and increase awareness of the nib brand.
It has sponsored The Blues Super Rugby team since early 2014, and is the official health insurer of the New Zealand Rugby Players Association and the New Zealand Cricket Players Association.
In January 2018, nib began a partnership with the Well Foundation, which focuses on advancing healthcare for everyone within the Waitemata DHB community and providing vital equipment such as neonatal incubators.
It is a Platinum Partner of the Ronald McDonald House Charities (RMHC) New Zealand, supporting their goal of helping thousands of families who have a child in hospital away from home. The charity offers free accommodation close to these hospitals, in-house schooling, meal preparation and other day-to-day concerns, allowing families to focus on what matters most to them.