If members start to leave Medibank and AHM, where would they go realistically? Bupa, NIB, HCF and other similar big organisations. If Medibank is the largest private health fund in the country, and they still got hacked, what assurances would members have that other smaller health fund would have better cyber security systems in place?
Optus has seen a 10% drop in customers after their hack. I could be wrong, but I don't think the exodus at Medibank will be as bad. As long as they quickly contain the hack and show members and potential customers that they've plugged this security hole.
Ann: Medibank cybercrime update, page-26
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