Scottish Widows paid out more than 98% of protection claims in the past year, according to its latest data.
The insurer’s latest claims figures show that this is the fourth consecutive year the total has reached over 98%, despite an 11% rise in critical illness claims volume compared to the previous year, where claims dipped due to the pandemic and additional pressures on the health service.
Further analysis of the 2022 claims revealed that 99.4% of life claims and 93.3% of critical illness claims were paid out last year, representing 8,555 and 1,552 claims respectively. In total 10,107 policy holders received financial support when they needed it the most.
In 2022 over £199m was paid out in total, at an average of just over £3.8m per week and almost £0.8m per working day.
Cancer is still the most common reason for critical illness claims (63%) and life insurance (33%).
The data found that the most common cancer claims in men are for prostate (22.4%), bowel cancer (16.3%), malignant melanoma (6.3%) and Hodgkin’s lymphoma (6.3%).
In women the most common types of cancer were breast cancer (52.8%), bowel (9.4%), uterine or cervical (7.4%), ovarian (4.5%), and malignant melanoma (3.7%).
Scott Cadger, head of protection underwriting and claims strategy at Scottish Widows, said: “We know that 2022 was a tough year for many people, with the current cost of living pressures, as well as our health service still struggling with pandemic-related issues and often delayed diagnosis and treatments.
“That’s why I am proud to see that year-on-year we continue to deliver on our promise to protect and support our customers in their difficult moments.”
Scottish Widows also recorded a 67% year-on year rise in the use of Clinic in the Pocket amongst customers.
This is part of the insurer’s Scottish Widows Care package available to all customers, which provides 24/7 GP services and free prescription delivery through its partner Square Health’s mobile app.
Almost two thirds (63%) of Clinic in the Pocket consultations were booked by customers aged 26-45, with two in five (39.8%) having already used the service.
The most common symptoms consulted on were about skin issues, including moles and lumps (18%), cold or flu symptoms (12%), and children’s health (11%).
Cadger added: “The impact of those pressures is manifested by the 63% rise in users of our Clinic in the Pocket service, offering 24/7 access to GP services and prescription delivery.
“Our data is telling us that 26–45-year-olds are spearheading the digital shift, which may in turn free up valuable NHS in person appointments as getting advice on symptoms as early as possible can make a huge difference for most conditions.
“Early diagnosis remains crucial as our data highlights that cancer continues to be the main cause of death and critical illnesses amongst our customers.
“This underlines the importance of our partners Macmillan, RedArc and others to be able to help provide the right support and advice when it matters the most.”
