Superannuation fund Hostplus does not expect to add any general insurance products to its arsenal any time soon.
Although the super fund said it had been looking at the benefits of providing those services, it was unlikely any general insurance products, such as car or home contents insurance, would be offered in the near future.
"I've been asked to look into the general insurance products, but I haven't seen anything out there that offers real value to our membership," Hostplus chief executive David Elia said.
"And until such time that I find something, it is clearly not in petition to market these to our members."
Elia said even if he did find a good product, its adoption would still depend on the demand from members.
"We need to look at whether our members want these products. We haven't even started that level of research," he said.
Earlier this month, The Australian reported that Hostplus was doing due diligence on two general insurance proposals, one brokered by Super Insurance Services using insurance products from QBE and another from an organisation using various underwriters.
But Elia played down the possibility of the super fund moving into general insurance.
"As you would appreciate, organisations like ours are always considering the various propositions that are put to us, but it doesn't imply that we intend to go down that path," he said.
"We offer very few of these, what I would call, value-added ancillary products.
"We are not offering a discounted coffee club, discounted liquor club or movie tickets. We are not about to go down that path, because clearly there are plenty of other organisations that do that. There isn't a genuine point of difference."
Hostplus does offer life insurance through its partnership with ING Australia, soon to be renamed Onepath, and also offers health insurance through Manchester Unity.
"We don't intend to change any of that," Elia said.
