SYDNEY, March 14, 2025 /PRNewswire/ -- In 2022-23, Australia spent more than $8 billion on state and territory specialised mental health services. Already staggering, the amount does not include Australian Capital Territory jurisdictional or non-Commonwealth numbers, which were not available when the government released the national data in February 2025. The country's total mental health expenditure for 2022-23 stood at $13.2 billion, an increase from 2018-19's $11.8 billion.
How private insurers can help
Given the mental health challenge, the private insurance industry in Australia has the opportunity to be part of the solution, in turn boosting their own offerings aimed at a more community-centric clientele. Kuky, a new platform intended to foster real connections among people navigating the same health & wellness journey, is one service that insurers can tap to reach out to a broader range of policyholders.
Through the Kuky app, insurance providers can help connect post-surgery patients, expectant mothers, or families of those undergoing chemotherapy with others currently at the same point in their lives. Think social media but on a deeper and more impactful level. The goal is to bring together compatible and like-minded users and assist them in benefitting from shared experiences and meaningful interactions.
What's in it for the health insurance industry?
With more and more private health insurers advocating for preventative and holistic healthcare to ease the burden in the public space, leveraging technology to actively improve health outcomes can offer a host of benefits while providing better value to insureds.
One perk of adding mental health platforms to an insurer's portfolio of services is enhanced member engagement. By offering an app that helps people address their mental health issues, insurance companies can engage with policyholders beyond the hospital setting, reaching even those opting for in-home care and also making insurance more attractive and accessible to a younger demographic.
With a wider client base that includes young Australians, health insurers can ensure the sustainability of their funds, for the benefit of both their operations and the people they serve. Once on board, customers also have more reasons to stay insured, given the benefits they can access through their policies in addition to claims.
Forming meaningful connections
In the same way that Kuky connects app users who have similar experiences and interests, insurers will be wise to align themselves with other businesses and changemakers that can provide mutual benefits for their funds and members. Tapping those with additional expertise – in Kuky's case, experienced developers – can mean a positive difference to both insureds and insurance firms.