Last year was one hell of a nightmare for Medibank after experiencing a cyberattack... now, it's back in the black for customers.
👉 Background: Medibank Private is one of the largest Australian private health insurance providers in Australia. We’re talking a total of 3.7 million customers in 2021, across its Medibank Private and ahm brands.
👉 What happened: Last year was one hell of a nightmare for Medibank when a cyberattack exposed the details current and former customers. As a result, Medibank made a net loss of 13,000 customers in December alone as customers deserted the big M.
👉 What else: But for the first 18 days of January, Medibank was back in the black for customers. Okay, we’re only talking a measly net gain of 200 policy holders. But it’s keen to get back to business as usual.. And recover its reputation.. which was in tatters.
💡 When a business suffers a major blow to its reputation, it can feel like the end. But for some companies, it's just the beginning of a journey to redemption.
💡 The steps that a company takes post-crisis are critical to determine whether they will flourish.. Or flounder.
💡 So now, Medibank has the opportunity to own its mistakes and continue building a bigger and better business.
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