Melbourne, AUS - iSelect Limited (ASX:ISU) and HBF Health Limited today entered into a multi-year agreement for iSelect to compare and distribute HBF’s health insurance product suite.
“We’re thrilled to have signed today’s agreement which will see HBF products become available to consumers outside of Western Australia for the first time,” said iSelect CEO Alex Stevens.
“The signing of today’s agreement with HBF will deliver Australian health insurance consumers with more product variety, flexibility and features than ever before.”
“HBF’s product suite is highly competitive and very well suited to iSelect’s distribution model and typical customer profile. Together with our new partners at HBF we’re greatly looking forward to delivering Australian private health insurance consumers with greater choice and value,” said Mr Stevens.
Commenting on the agreement, HBF CEO Rob Bransby said, “Over the past 75 years we have grown in Western Australia to become to Australia’s fifth largest private health insurer. We’ve achieved this through a consistent focus on innovation, flexible product design and best-in-class customer service.”
“The partnership we’re announcing today with iSelect is the next step in our growth journey and means consumers outside Western Australia now have access to an innovative product suite from a major not-for-profit health fund that has the scale to actively compete with the other large players,” said Mr Bransby.
The agreement is effective from 18 May 2015 but is not expected to have a material impact on iSelect’s FY15 earnings per share.