Wellteq Digital Health strikes 3-year contract extension with its largest client, Australia-based nib health funds

Wellteq Digital Health Inc. has announced a three-year contract extension with its largest client, Australia-based nib health funds.

In a statement, Wellteq said nib is Australia’s fourth-largest private health insurer and provides private health insurance coverage to over 1.2 million policyholders. 

In line with the health insurer’s Payer to Partner journey, Wellteq added that nib is focused on providing greater access to personalized treatment and care for its members as it moves away from being a traditional payer of claims and towards its ambition of becoming a health partner.

READ: Wellteq Digital Health expects FY2021 SaaS revenue to soar over 100% to top C$1.1M

“nib had engaged Wellteq alongside other core partners including Garmin and data science company, Honeysuckle Health, to offer world leading digital health solutions,” said Ed Close, CEO of  Australian Residents Health Insurance at nib.

“By using digital methods we can equip members with tools and techniques that they can use to better manage their health and wellbeing. In turn, prevent the development of more serious health issues down the track.”

Scott Montgomery, CEO of Wellteq, added: “Digital Wellness has become table stakes for insurance companies that are serious about improving health outcomes for people. It is now a staple business tool for modern insurers. We are delighted to continue working with nib as they genuinely share our values and ambitions toward offering real health improvement in a personalized, respectful and meaningful manner. nib are leading industry innovators and our ongoing collaboration is proving extremely beneficial for all stakeholders in this relationship – a true win-win.”

Wellteq’s digital health platform is paid for by employers, insurers, and healthcare providers, which algorithmically coaches the four pillars of behavioral health – sleep, mindset, nutrition, and activity – for employees, insurance policyholders, and healthcare patients.

The company’s growing portfolio of corporate clients includes Willis Towers Watson, UBS, DBS, nib Health Funds, Bupa Health Insurance, and Northern Trust. 

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Story by ProactiveInvestors