Health Industry Plan (HIP) Super is the latest fund to sign up with Superannuation Insurance Services (SIS) to provide discounted general insurance products to members.

SIS director Jason Potter-Rise told Investor Weekly that HIP Super chief executive Ross Bernays had approved a customer engagement program with SIS.

The program needs to be signed off by the board in May, with the project to commence in the new financial year pending the board decision.

The deal will mean HIP Super members will be eligible for reduced rates for health, car, home and travel insurance through a relationship with QBE Insurance.

Potter-Rose said superannuation fund members could get a 30 per cent discount on travel insurance and a 10 per cent reduction on their home insurance, among other discounts.

ESI Super, Maritime Super, Club Super and SPEC Super have all signed on for the programs.

SIS is currently also in talks about forming a relationship with gyms and other retail organisations.

"I am talking to Fitness First and Virgin Active Health Clubs ... I'm also trying to speak with Rebel Sport, Foot Locker and some travel agents about securing discounts for super fund members," Potter-Rose said.

He said all potential partners had to "make sense" for super fund members and provide a better deal for members than they "could get off the street".

"This will provide a key touch point to members. Engagement with super fund members is not as good as it could be," Potter-Rose said.

Such programs come at no cost to super funds, which have a badged link on their homepages. SIS gets a commission from the insurer or business for providing the service, Potter-Rose said.

 

By Alice Uribe
Wednesday 28 April 2010

 

The article above was extracted from the Investor Daily.Hip super to provide general insurance