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nib Health Insurance

nib history

1952 Workers at BHP Steelworks, Mayfield establish the Newcastle Industrial Benefits (nib) Hospital Fund.
1953 Newcastle Industrial Benefits Medical Fund established.
1962 Head Office building occupied at 366 Hunter Street, Newcastle. nib’s first advertising program went to air.
1975 South Coast Medical Fund amalgamated with nib and membership increased by 10,000 in the Illawarra region.
1976 Medibank Private came into existence and nib membership virtually tripled.
1977 Newcastle Industrial Benefits officially changed to nib health funds ltd. nib moved to working on computers.
1978 Hunter Medical Benefits Fund amalgamated with nib bringing another 8,000 members.
1981 The Store Medical and Hospital Fund amalgamated with nib.
1982 nib opened its first Sydney branch.
1984 Medicare was introduced and nib membership dropped but quickly recovered through a vigorous advertising campaign.
1993 nib beCogan interstate operations in Queensland in April. Victoria, South Australia and ACT followed in December.
1997 nib Call Centre was officially opened. nib gained an online presence with its website.
1999 nib Call Centre was awarded ‘Call Centre of the Year’, for outstanding teleperformance and customer service.
2000 The introduction of Lifetime Health Cover saw membership increase considerably. nib introduced MediGap, an incentive that eliminates medical gap payments for nib members undergoing treatment in a private hospital when these services are conducted by participating medical practitioners.
2001 nib Call Centre was once again awarded ‘Call Centre of the Year’, for outstanding teleperformance and customer service.
2003 nib health funds celebrated its 50 year anniversary. nib acquired Victorian based health fund IOOF Health Services.
2006 nib launches a new product portfolio. The new range of products further enhances nib’s strategic position as a provider of affordable health insurance. nib negotiated the sale of Newcastle Private Hospital to Healthscope, Australia’s largest operators of private hospitals.nib invests in its first major interstate sponsorship, becoming the naming rights sponsor of the nib Lorne Pier to Pub ocean swim on the Victorian holiday coast.
2007 nib launches a major marketing and brand awareness campaign targeting national policyholder growth in key target demographics. nib Board votes in favour of demutualising and pursuing listing the health fund on the Australian Securities Exchange (ASX). nib becomes Australia’s first private health insurer to demutualise and list on the ASX.
2008 Prime Minister, Kevin Rudd officially launches the nib foundation – a not-for-profit charitable organisation to support programs aimed at improving the health and wellbeing of all Australians.

The foundation is funded by a $25 million donation from nib, which was raised through the issue of new shares at the time of listing nib on the ASX in November 2007

2009

nib provides affordable health cover to more than 700,000 customers nationwide. Sound investment in marketing and advertising coupled with strategic initiatives to increase brand awareness have contributed to nib becoming one of Australia’s fastest growing health funds.

The nib foundation announces its first National Partnership with the Hunter Institute of Mental Health to provide mental health support programs across Australia. Since October 2008, the nib foundation has allocated $1.3 million in funding of health and wellbeing initiatives.

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