NIB has backed weight-loss drugs like Ozempic, as the next "wonder drug", saying millions of people will be taking them alongside multivitamins in the near future.
The Hunter-based health insurer is so enamoured with the drugs, it highlighted them in the company's annual general meeting on Tuesday.
It said the drugs, known as GLP-1 agonists and include the brands Mounjaro and Wegovy, could lead to a "paradigm shift in the approach to obesity globally".
Outgoing nib chief executive Mark Fitzgibbon said the drug had the potential to reshape society, in the same way penicillin, contraceptive pills or anesthetics had.
"I think it is a wonder drug," Mr Fitzgibbon said.
"I have a strong view that sooner than we imagine, we'll all be taken GLP-1 agonist in an oral form, in a pill, on a daily basis, just like we take multivitamins.
"And we'll do that not only because of weight loss, but because of the growing evidence that it has positive consequences for other conditions."
Mr Fitzgibbon said the GLP-1 agonist could help stem the "rising tide of obesity" and all the co-morbidities that come with it.
GLP-1 agonists are a class of drugs that reduce blood sugar and the amount that people eat.
But it's the growing body of evidence that suggests the drug has other therapeutic qualities for kidney, liver, cardiovascular and brain health, that has him excited.
Mr Fitzgibbon, who retires at the end of the November after 22 years at the helm of nib, acknowledged some medical professionals find his comments provocative.
"But you don't form this view without spending a lot of time studying the whole GLP-1 agonist development," he said.
"I've been over to [Danish pharmaceutical company] Novo Nordisk in Copenhagen in order to convince myself that this is a real prospect.
"Underneath the GLP-1 agonist is technology. The agonists, which stimulate receptors in our body, first came to our attention from a kind of rare Mexican lizard who was producing these hormones."
Although Mr Fitzgibbon will be retiring at the end of the month, his enthusiasm for the drug will remain with nib.
In his address to the annual general meeting at Newcastle City Hall, nib chairman David Gordon endorsed the potential of the drug.
"While it is early days, nib believes GLP-1 agonists, drugs like Ozempic, Mounjaro and Wegovy, will have a significant impact on the health of millions of people, not just in rich, western nations," Mr Gordon said.
"Early trials are beginning to show that obesity and other health issues can be treated with drugs and services that support better life choices.
"We hope that new drugs, and a holistic approach through MedJourney, can help people lose weight and keep it off through better choices, and truly improve their overall health and their lives."
The company had a strong year financially, seeing its post-tax profit jump by 67.4 per cent to $181.6 million and the total group revenue increased to $3.3 billion, up more than 9 per cent on the previous financial year.
Nib's annual report revealed its membership increased by 18,000 people, or 2.5 per cent, to almost 715,000 policyholders.
