British Friendly paid 90% of new income protection (IP) claims in 2022 and just over £5m to its members in income protection and discretionary BF Care claims.
British Friendly paid 1,193 claims in 2022. It did not declare this figure for 2021, but approved 1,300 claims in 2020.
In 2021 British Friendly paid 84% of new claims and paid out £5.1m with 87% of new claims approved in 2020 and £5.6m paid out.
The provider’s five most common reasons for claims in 2022 were musculoskeletal which accounted for 47%, Covid-19 (14%) mental illness (7%) surgery not covered in other categories (6%) and chest, lung, nose and throat conditions (6%).
The primary reasons for declined claims were misrepresentation (35%), pre-existing conditions under the moratorium period for its Simplified product accounted for (27%) and definition of incapacity not met (21%).
When the Simplified moratorium product was excluded, the overall claims paid rate was 92%.
The insurer added it has paid 94% of all claims over the last 17 years.
Maxine Jannetta, head of claims at British Friendly, (pictured) said: “Being a mutual insurer, our members are at the heart of our proposition and paying valid claims quickly, alongside supporting members to rehabilitate and recover is our primary focus.”
The Protection Parent owner and adviser Karla Edwards added: “It’s great to see British Friendly paying such a high number of claims to its members throughout 2022 and that they are focussed on supporting their members recover through their partnership with Innovate and other healthcare services such as Clinic in a Pocket.”