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NAB and NIB join for cross sell

NAB and NIB join for cross sell

(7 April 2009 – Australia) NAB has joined forces in a strategic alliance with one of Australia’s largest health funds to sell health insurance products to bank customers. NAB and nib health funds (nib) have announced a strategic alliance which will see the health fund offer NAB’s customers a range of health insurance products.

The health insurer will look to sell NAB customers nib’s ‘Value Health Insurance’ when it is launched in April 2009.

NAB Regional General Manager, Consumer Product Solutions, John Salamito said that the reason from the bank’s perspective of teaming up with nib would be to provide NAB customers with an even more diverse offering.

The bank has teamed up with nib to add a range of health insurance products to expand their current financial and non-financial suite of products in order to continue to provide real value to its customers, Mr Salamito said.

It was not specified if NAB would utilise nib’s policy base to cross sell banking products.

Mark Fitzgibbon, nib’s Managing Director, said that, for the health fund, linking with one of Australia’s Big Four banks is an opportunity to not only grow the health fund’s customer base nationally, but also take a formative step into the financial services sector.

Tapping into NAB’s significant customer base provides us with a tremendous opportunity to grow our market share right across Australia.

Fitzgibbon is forecasting the initial 15-month targeted campaign to increase nib’s policyholder base by at least 5,000 policies, assisting in a faster than industry growth rate.
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