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Qantas name lures customers to health and life insurance

April 7, 2017 Headline News No Comments Email Email

The famous Qantas brand is increasingly being linked to health and life insurance, following an advertising push to persuade people to switch health insurance to Qantas Assure, backed by a lure of up to 100,000 Qantas frequent flyer points.

The cost of private health insurance premiums in Australia rose across the board last weekend, by an average of 4.84% – more than three times the rate of inflation. That made many people think about switching, or giving up private health insurance altogether. Many of those thinking of switching may have been tempted by the Qantas offer.

The well-deserved Qantas reputation for safety is used to promote the Qantas Assure health and life insurance products. A sample tagline: “You already place enormous trust in Qantas when you fly. Now Qantas Assure brings you Life Protect – smart insurance that helps take care of the life you lead.”

Ad for Qantas Assure at Circular Quay near Sydney Opera House

When Qantas entered the insurance field last year, by partnering with health insurance provider nib (once known as Newcastle Industrial Benefits), the airline’s chief executive, Alan Joyce, said Qantas Loyalty had shown it knew how to attract, reward and retain members for their choice of airline, credit card or retailer.

“By partnering with nib, we believe there is a huge opportunity to do the same thing in the AUD 19 billion private health insurance market and drive significant growth for the Loyalty business.”

Recent Qantas Assure online promotion

The deal combined nib’s health insurance, risk assessment and underwriting capability with Qantas Loyalty’s marketing, data and customer retention expertise.

“The result will be a range of Qantas Assure-branded health insurance products and the ability to earn Qantas Points through the Frequent Flyer program. Value will be shared equally between the parties.”

The launch was backed by Christopher Walken.

Qantas Assure is targeting a 2-3% share of the Australian private health insurance market on a revenue basis in its first five years.

Qantas has now partnered with Australian insurer TAL to offer new Qantas Assure Protect products. TAL (once known as Tower Australia Limited) is Australia’s largest life insurance specialist and the new Qantas Assure Protect products are life insurance cover, income protection and trauma and total permanent disability protection insurance (TPD). People purchasing one or more of those policies can earn bonus points on sign-up as well as Qantas Points for every dollar spent on their premium.

“Life Protect is another way to earn Qantas Points,” publicity states. “You could earn from 5000 points to up to 50,000 points on premiums from $40 to $160+ per month when you join and hold a policy for at least five months.”

Written by Peter Needham

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