Health insurer Nib eyes NDIS opportunity

Besides this, management and payment of providers can be complicated and time-consuming and Nib has the experience to assist those on the scheme, Fitzgibbon said.

“We think we can make it all the more efficient through the technology that exists in the business… our core competency is the ability to contract with providers.”

The move comes as insurers, including Nib, work to expand their service focus, with the hope of attracting and retaining members for longer.

For Nib, this has included investment in healthcare data platform Honeysuckle Health, as well as a freemium membership offer called GreenPass, which gives younger members access to online health checks and health perks without having to take out a policy.

The company recorded its best membership growth numbers in seven years in the fourth quarter and added 20,000 members in 2022, representing growth of 3.2 per cent.

The insurer’s net profit dropped 16.6 per cent for the year to $133.8 million, but this was driven largely by investment losses.

Shares advanced throughout Monday’s session and were 7.4 per cent higher to $7.81 just after 2pm.

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