The deal is set out for an initial three-year period and will be administered via Medibank-owned Australian Health Management Group (ahm), Kogan said in a statement to the ASX on Tuesday.
The e-commerce platform will be in charge of providing online branding, marketing and customers, and will earn commissions on sales of all insurance policies, while Medibank will provide an underwriting to raise investment capital from investors.
Kogan will earn commissions on sales of all insurance policies.
“Kogan.com is delighted to be partnering with Medibank and ahm, which together represent one of Australia’s largest health insurers, providing private health insurance and health solutions to 3.7 million Australians,” said David Shafer, executive director of Kogan.com .
“Having more than eight 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 now operates portfolio of businesses, including Kogan Retail, Kogan Marketplace, Kogan Insurance, Kogan Mobile and Kogan Travel. The e-tailer has also announced plans to start selling fixed-line national broadband network home internet next year, after agreeing to expand its partnership with Vodafone.
Last month, the retailer’s founder said “significant behavioural shifts” are reshaping Aussie retail.
“With traditional channels facing continued consolidation, the path to market in Australia is begging for diversification. We expect the evolution of the local retail market to drive some significant behavioural shifts – causing customers to rethink how they buy and suppliers to rethink how they distribute their inventory.
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