Kogan expands portfolio with health insurance offering
Kogan.com is adding a new vertical to its portfolio of retail and services businesses with the upcoming launch of Kogan Health in the second half of this financial year.
The move sees the online retailer team up with one of Australia’s largest health insurance companies, Medibank Group, to offer budget health insurance policies to consumers.
The underwriting will be provided by Medibank Group, while Kogan.com will provide branding, marketing and customer acquisition. Kogan.com will earn commissions on sales of all insurance policies.
Executive director of Kogan.com, David Shafer, said the partnership with Medibank Group was another important opportunity to delight Kogan’s large and growing community.
“Having recently been voted by the Australian public as ‘Australia’s favourite online retailer’, Kogan.com will help engage the large and growing Aussie e-commerce market, with new health insurance offerings under Kogan Health,” Shafer said.
“Kogan Health will bring healthy competition to the health insurance industry, ultimately making it more affordable to take control of your health.”
Medibank together with its wholly owned subsidiary, Australian Health Management Group Pty Ltd [AHM], represent one of Australia’s largest health insurers and private health insurance and health solutions to 3.7 million Australians. AHM is also Australia’s fastest growing health insurer.
Chief customer officer at Medibank Group, David Koczkar, described the partnership with Kogan.com was a great match.
“Kogan.com has been very good at creating a sharp, low-fuss online experience for value-conscious customers.
“So this partnership is a great match and we’ll be able to do something different and attractive for Kogan Health customers,” he said.
Shafer called it a “win-win-win for Medibank, Kogan’s shareholders and, most importantly, Kogan’s customers.”
In recent months, Kogan.com has ramped up its strategy of portfolio expansion, launching home, contents, landlord, car and travel insurance, NBN internet plans, travel offerings and mobile offerings, in addition to its original online retail and marketplace business.
The company competes on price leadership through digital efficiency and has over 8 million active subscribers.