The rising cost of health care and the confusing array of available products led Precision to a decision to invest in a company that simplifies the process, iSelect. Founded in 2000, iSelect has risen to become a leading destination for Australians to compare, select and save on health insurance. Working together with participating health funds, iSelect helps provide more informed choices for consumers.
Whether using its online matching system, or discussing needs and requirements with trained consultants, iSelect assists Australian consumers with finding a product suited to their situation and with changes to policy and/or excess levels, iSelect may even be able to save them up to 30% on their health insurance.
In 2007, iSelect also launched its life business and commenced advising Australian consumers on their life insurance requirements. Using fully qualified financial planners who specialise in life insurance iSelect compares insurance products from all of Australia’s leading insurance providers.
Precision’s faith in iSelect was vindicated when in April 2006, Ninemsn and PBL acquired a 35% stake. At the time of this acquisition, Ninemsn announced that by investing in iSelect, they were investing in an Australian internet pioneer with online health, one of the fastest growing areas of the Australian internet market.