Online electronics retailer Kogan will offer budget health insurance policies through a partnership with Medibank Group.
Medibank will underwrite the insurance policies for Kogan Health, with branding, marketing and customer acquisition to be handled by Kogan, which will earn commissions on sales.
The initial three-year agreement will be administered through Medibank-owned Australian Health Management Group.
The move adds to Kogan's growing roster of business units, including retail, travel, mobile, and NBN.
Kogan executive director David Shafer said: “Having more and 8 million Aussies as members of the Kogan community enables us to form strong commercial partnerships like this, which result in a win-win-win for Medibank, Kogan’s shareholders and, most importantly, Kogan’s customers.
“Kogan Health will bring healthy competition to the health insurance industry, ultimately making it more affordable to take control of your health.”
Medibank chief customer officer David Koczkar said: “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.”
The health insurance brand is expected to launch in the first half of 2018.
Kogan generated revenues of $289.5 million for the 12 months to 30 June 2017, growing 37.1 percent on FY2016, and a net profit of $7.2 million, an 800 percent increase on last year's $800,000.
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