Dentists’ Provident, a specialist in income protection for dental professionals, has paid out £5.2m in claims for 2023, maintaining a 99% payment rate for new claims. This figure is slightly down from 99.1% in the previous year.
The company’s 2023 report highlights an £87,800 maximum payout to an individual, with the majority of claims from those aged 46-55. The youngest beneficiary was a 26-year-old dentist.
Simon Elliott, chief risk officer, commented on the trend in claims, attributing the decrease primarily to fewer COVID-19 related claims. “In 2023 our claims decreased, mainly due to fewer Covid related claims… Our high claim payment rate and low levels of complaints are a testament to the benefits of an integrated approach to underwriting and claims,” he stated.
The report identifies musculoskeletal disorders, accidents, and psychiatric disorders as common reasons for claims.
Farrukh Mirza, CEO, reaffirmed the company’s commitment to its members, saying, “We take pride in our plans and our service, which gives members confidence they have a dependable income protection plan that works for them.”
