HBF to shut five WA branches

HBF will close one-third of its Western Australian branches in a bid to reduce costs, reporting 80 per cent of its member interactions were through digital platforms.

The health insurer confirmed it would be closing its branches in Albany, Floreat, Kalgoorlie, Mandurah and Rockingham in coming months, after recording a 43 per cent decrease in branch interaction over the past three years.

HBF chief executive Lachlan Henderson said the decision was part of a broader operational review seeking to reduce the company’s costs.

“As a not-for-profit organisation, HBF has supported members by keeping our average premium increases below industry averages over the past five and ten years while maintaining a strong claims payout ratio,” Dr Henderson said.

“We also focus on providing quality support to our members via our call centres and branches as well as investing in our increasingly popular digital channels.

“To continue providing value to our whole membership base, HBF must balance meeting the needs of our members with operating a sustainable business model.

“We are also looking at other ways to reduce costs.”

In a statement, HBF said employees located at the five branches pending closure would be offered redeployment opportunities, including remote work.

Dr Henderson said HBF members would also be contacted and supported through the transition.

“We will be reaching out directly to our members who have recently used the affected branches on how we will assist them during this transition,” he said.

HBF receives about 4 million interactions from members per year.

The health insurer is the seventh largest fund manager in WA, according to Data & Insights, with more than $1 billion worth of assets under management.