Our 2019 claims statistics have been released and we’re thrilled to share that we paid 96.26% of all new Income Protection claims made by our members last year.
The figure is an increase on 2018’s 95.8% claims paid rate, proving that the time we invest in continuously monitoring and reviewing our member experience is worthwhile. And it looks like our members agree; according to a survey we carried out last year, 96.55% of members who have claimed with us would recommend Shepherds Friendly to a relative or friend.
A Snapshot
We carefully review our claims statistics; spotting any trends can help us tailor our products and service to our members’ needs. Below are some of the facts and figures shown by our 2019 reports in relation to Income Protection claims:
- The two main reasons for claiming were musculoskeletal (42.36%) and mental health (14.67%)
- The average age for claimants was 37 (the oldest being 61)
- The average length of claim was 18.85 weeks
The Member Experience
An important part of the member experience involves maintaining clear communication throughout the entire duration of any Income Protection plan. Dan Palk, Head of Claims, said:
“When members take out Income Protection plans with us, we make sure that all the information they need about their plan is provided clearly, and our Member Services, Underwriting and Claims teams are always happy to answer any questions.
“Our application process is thorough, but fair; we ask the right questions without making members feel like they’re under interrogation. With both ourselves and the members fully informed, there’s very little room for error or misunderstandings, and therefore fewer reasons for us to decline a claim.”
Our Approach to Claims
At Shepherds Friendly, we pride ourselves on keeping things simple. This ethos makes the whole claims process easier for members, who are likely to be going through a challenging time. In fact, our survey revealed that 98.25% of members found the claims process to be clear and easy to understand. Senior Claims Assessor, Nikki Hargreaves says:
“Managing both an illness or injury and having to take time away from your job can be really stressful and disruptive. So, our job is to make sure that, when a member makes a claim, it’s a smooth, straightforward experience that eases their worries, instead of adding to them.”
One contributing factor to our strong claims paid rate could be how we manage each case. As Nikki explains:
“The approach we take to handling a claim is tailored to each member; we consider each member’s circumstances on an individual basis. It’s also important for us to remember that behind every case there is a human being, not just a policy number. We’re not here to tick boxes or find loopholes – we’re simply here to help.”
What is Income Protection?
It’s a type of insurance that protects your income by paying out a proportion of your salary when an illness or injury leaves you unable to work. This means that you and your family can get financial support, even if you are not well enough to work.
To find out more about our Income Protection plans, click here.
