Private health insurer Medibank to ‘stick to knitting’ amid heightened competition
Medibank chief executive David Koczkar says the private health insurer will ‘stick to our knitting and remain disciplined’ amid heightened competition and aggressive discounting in the sector.
Mr Koczkar told the Macquarie Australia Conference in Sydney on Wednesday that the insurer, which has about four million clients, had settings that would enable the company to grow sustainably in the long-term.
He said competitors offering deep discounting in an attempt to increase market share was expensive and unsustainable. Medibank was instead focusing on core markets, including corporate and family divisions.
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By continuing you agree to our Terms and Privacy Policy.“We’ll stick to our knitting and remain disciplined,” he said.
“But look the competitor activity remains and we’ve had our premium review period for the first time in six years where all funds have changed their prices on 1 April.”
Mr Koczkar said the impact of the premium review, which was delayed, would play out for the remainder of the year.
