HIBERNIAN HEALTH plans to triple its membership to more than 500,000 within the next five years and says that its entry into the healthcare market would be a major catalyst for change.
The company, which was formally launched yesterday, follows Hibernian's acquisition of the majority shareholding in Vivas Health last month. Hibernian says it aims to become the number two health insurer in Ireland in the next three to five years, according to Dick O'Driscoll, managing director of Hibernian Insurance and Hibernian Health.
Hibernian Health will be the new name for Vivas from July 1st. However, the company will eventually be rebranded as Aviva along with Hibernian's other Irish operations as was announced recently by its parent, Aviva.
"We will be number two in this market in a short number of years, given the footprint we have in other markets," said Mr O'Driscoll.
"Hibernian has a unique and powerful sales distribution network. Its products are available from brokers and financial advisers, the Hibernian nationwide branch network, online or via its call centre and through AIB's branch network," he said.
The company said it would target the Hibernian group's existing customer base of 1.2 million customers in its life, general and motor insurance markets, as well as targeting VHI and Quinn healthcare members.
"Already 1.2 million customers trust Hibernian to look out for their important financial assets like their cars, homes, businesses and pensions," said Hibernian group chief executive Stuart Purdy. "With a climate of switching now prevalent in a number of sectors, our research shows that consumers welcome the option to manage all their insurance needs with Hibernian."
Group research indicates that 67 per cent of health insurance members are now prepared to switch, with the majority willing to switch for savings of €500 or less.
