The document discusses how consumers are taking more control over their health insurance choices. It notes that 200,000 consumers were referred to health funds in 2016 through comparison sites, 40% of one fund's sales came from comparisons sites, and another 30% of consumers do their own research. It argues that competition from new entrants, the ability to easily compare options, more informed consumers who want control, and transparency requirements will continue to empower consumers and drive health funds to provide better support for consumer decision making.

1. The Consumer
Revolution
Whatit spellsfor healthfunds
Christopher Zinn, CEO PHIIA, July 2017

2. Empowerment

3. Ode to choice…. not just nice to
have

4. Comparison—‘me’generation

5. Complexity nothing new –
choice generation

6. Patienceamongst patients-
‘now’ generation

7. Broad church

8. Some stats…
• 200,000 consumers referred in 2016
• 40% of PHI sales
• Another 30% do research on comparators and
buy direct
• Sales figures estimates from publically available data

9. Six big C’s
• Competition: new entrants, same price as go direct
• Comparison: person to person explanation
• Consumer: more control, comprehension
• Code of conduct: signatories access to funds
• Complement: www.privatehealth.gov.au
• Complaints: low on PHIO data

10. Managing
commissions & conflicts

11. Monitor, enforce & extend

12. The future…. decisionsupport

13. Join the revolution
• chriszinn@phiia.org
• 0425 296 442
• LinkedIn, Twitter etc
• www.phiia.com.au
Get in contact….

17. TIME person the year 2006

18. The future…. Next generation
intermediaries

19. ACCC Consumer Survey 2015

21. What is an

22. Customer Journey wordcloud
ACCCreport2015

23. Questions?
• Independence/Impartial
• Transparency: Width of market
• Conflict of interest
• Do commissions add to premium cost