AUSTRALIAN Pharmaceutical Industries' (API's) Priceline Pharmacy banner is rolling out its own health insurance product in partnership with NIB.
The group's insurance offering will provide a range of hospital cover plans and "extras" policies, offering rebates on a range of services, including rebates on non-Pharmaceutical Benefits Scheme prescriptions, including influenza vaccines - up to certain limits.
Priceline is aiming to leverage its Sister Club loyalty program, offering members bonus points for every $1 spent on the premium, with policy-holders having their membership "bumped up" to "Pink Diamond" status automatically, increasing the number of points customers earn when they shop at Priceline stores.
Priceline Pharmacy General Manager, Andrew Vidler, said the group was "constantly looking to provide products and services" that customers want, adding that the insurance cover was "an extension [of the] brand's trusted pharmacy offer".
"There is no other health insurance product like this: from $5 vouchers which accrue with every $50 purchase - and I can tell you they add up quickly - to offering annual flu vaccinations through more than 370 Priceline Pharmacies around Australia," Vidler said.
"It's important to us that our franchisees who operate these local pharmacies in their communities will also see these new health insurance customers in their stores and create even more loyal Sister Club members for our brand."
NIB Chief Executive Australian residents' health insurance, Ed Close, said the new product presented a unique and exciting opportunity.
"As one of Australia's largest loyalty programs, Sister Club members will benefit from a bespoke range of best-in-class health insurance products, but with the bonus of Sister Club points on joining and when they pay their premium, making sure they get ongoing value from simply being a Priceline health member," he said.
"In addition, we will be able to use Priceline's national pharmacy network and digital assets to provide an enhanced service offering as well as ongoing customer benefits."
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