HBF eyes east coast, partners with iSelect

Perth-based health fund HBF has formed a partnership with online comparison service provider iSelect to distribute its suite of health insurance products outside of Western Australia.

HBF managing director Rob Bransby said the partnership was a key part of the group’s strategy to grow its membership on the east coast at the expense of funds such as Medibank, Bupa and Nib.

“HBF is Australia’s fifth largest health fund and the undisputed market leader in WA, but we’re largely unknown outside of our home state,” he said.

With about 97 per cent of HBF’s members located in WA, the deal partnership will involve HBF’s products being actively sold outside the state for the first time in the fund’s 75-year history.

“We have the scale and the capabilities to more than match the funds that dominate in the east and we can show that members of a not-for-profit fund are better served,” Mr Bransby said.

iSelect chief executive Alex Stevens said HBF’s product suite was highly competitive and well suited to iSelect’s distribution model and typical consumer 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,” Mr Stevens said.

Mr Bransby said the fund’s national expansion wouldn’t distract from servicing its home state.

HBF will also market and distribute products to eastern states-based members through its own website.

The agreement is effective from May 18.