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HCF CEO highlights role of member-owned business in building trust

HCF

WEDNESDAY, 21 OCTOBER 2026: HCF, Australia’s largest not-for-profit health fund, has highlighted the role member-owned organisations can play in earning trust by putting the people they serve first.

Speaking at the 2026 Business Council of Co-operatives and Mutuals (BCCM) Breakfast on the Hill at NSW Parliament House today, HCF CEO and Managing Director Lorraine Thomas said member ownership enables HCF to focus on creating long-term value for its members and the communities it serves.

Co-hosted by HCF, Breakfast on the Hill opens the 2026 BCCM Leaders’ Summit, bringing together around 150 guests including NSW parliamentarians and leaders from the mutual, community and charity sectors. The Breakfast also featured a keynote from The Smith Family CEO Doug Taylor.

“Mutuals are not simply another ownership model. They are a key part of Australia’s social and economic infrastructure,” Ms Thomas said.

“They provide competition, diversity, resilience and long-term thinking in sectors Australians rely on every day.

“At HCF, we’re not driven by profit, we’re driven by purpose. Our focus is on creating value for our members and reinvesting in the things that matter to them.

“That is the privilege of being a member-owned organisation.”

For HCF, that purpose is particularly important in healthcare, where people rely on the organisation at some of the most important and vulnerable moments of their lives.

“When it comes to essential needs like health, trust isn’t a nice-to-have. It’s non-negotiable,” Ms Thomas said.

“At a time when Australians face cost-of-living pressures and an increasingly complex environment of information and misinformation, trust has never been more important.”

Being member-owned also gives HCF an opportunity to advocate for its members and contribute to broader conversations about the health system.

This week HCF released A Shared Reform Agenda: Reimagining Mental Health Care, a White Paper bringing together perspectives from across the mental health system to identify opportunities to improve access, outcomes and sustainability.

“We need a whole-system approach to truly make an impact,” Ms Thomas said.

HCF’s three-year partnership with The Smith Family is another example of that broader focus on community wellbeing. It supports 1,500 students across Australia through The Smith Family’s Learning for Life program, providing long-term financial, personal and practical educational support.

“While HCF’s focus is health, every organisation represented in this room helps people access something that matters deeply in their lives,” Ms Thomas said.

“We may serve different needs, but we share a common purpose. We are there for people, putting them first when it really matters.

“That’s why I believe purpose and trust are inseparable.”

ENDS

About us:

ABOUT HCF

HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers more than 2 million members with health and life¹ insurance, travel², pet³ home⁴, landlord⁴ and car insurance⁴. HCF has been awarded Outstanding Value Health Insurance by Canstar ten years in a row from 2016-2025. On average over the last 10 years, HCF has paid out more cents in every dollar in premiums on its health insurance products to members as benefits than the industry average*. To learn more about HCF go to hcf.com.au/about-us

^* 88.7% compared to 84.4% across the industry. Calculated based on the average of the past 10 years, sourced from APRA Statistics: Operations of Private Health Insurers Annual Report data 2015–24 and Quarterly Private Health Insurance Statistics Jul 2024–Jun 2025.

¹ Issued by HCF Life. Consider the PDS and TMD at hcf.com.au/lifeinfo

² HCF Travel Insurance is arranged and managed by AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 trading as Allianz Global Assistance for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. Terms, conditions, exclusions, limits and applicable sub-limits apply. Please consider the PDS at hcf.com.au/travel and TMD at allianzpartners.com.au/policies before deciding whether to buy the product.

³ HCF Pet Insurance is issued by PetSure (Australia) Pty Ltd, except for policies entered into before 21 March 2024 and subsequent renewals of those policies, which are issued by The Hollard Insurance Company Pty Ltd. Consider the PDS and TMD at hcf.com.au/petinsurance before deciding if the product is right for you.

⁴ Issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. Consider the PDS for Home insurance at hcf.com.au/home, for HCF Landlord insurance at hcf.com.au/landlord and for HCF Car insurance at hcf.com.au/car, and TMDs which are available for HCF Home insurance and HCF Landlord insurance here and for HCF Car insurance by calling 1300 657 046, before deciding if the product is right for you.

Contact details:

Joni Thomes 0475 576 738 or [email protected]