Results of a new independent survey of more than 20,000 members of Members Health funds, including Westfund Health Insurance, revealed participating Members Health insurers are trusted well above some of Australia’s biggest household-name brands.
The Members Health Fund Alliance, of which Westfund is a member, is a group of 27 not-for-profit, member owned and community based insurers.
Participating health fund members were asked to rate the extent to which they trust a range of companies/brands for the long term. A rating scale of 0 to 10 was provided – from 0 (No, Definitely Not) to 10 (Yes, Definitely). The results were then converted to a score out of 100.
Westfund’s specific results also revealed a favourable trend in member trust, with their score of 84.07 (784 member responses) placing them above brands like Qantas (75.7), Coles (64.7) and Australian Super (55.6).
“The results of this survey are really positive. Our members are at the forefront in all decisions we make so it is pleasing the outcome of this is reflected,” said Westfund’s Acting CEO Chris Phillips.
“Trust is a huge component to any business, particularly in the health insurance industry. It is gratifying to know our members trust us.”
“As an organisation, we have been helping our members for more than 65 years and that long-term commitment, not only to them but also their communities, is reflected in these results,” he said.
Mr Phillips’ comments echoed that of Matthew Koce, CEO of Members Health.
“Honesty, trust and consumer confidence are such fiercely held values in all industries, and the fact customers of Members Health funds are so confident in their insurer is a testament to those organisations’ performance and reputation,” Mr Koce said.
Mr Koce said the survey, completed by Discovery Research, was yet more definitive evidence that Australia’s not-for-profit health funds are highly regarded by their memberships.
“By being there when life’s big health decisions arise, being clear about policy information and changes, and providing benefits when they’re needed most: that’s how health funds build trust. That’s how Members Health funds treat their members,” Mr Koce said.