Aegon reports protection claims for first half of 2017
Aegon today reports that 95% of individual critical illness (CI) claims were paid in the first half of 2017, maintaining the same level of CI claims that were paid for the whole of 2016.
The percentage of life claims also remains the same as that reported for the total claims in 2016 at 98%.
Simon Jacobs, Head of Underwriting and Claims at Aegon UK, said:
“One of the biggest myths in the protection industry is that providers don’t pay claims. This is clearly not the case and as a collective we need to share the positive customer stories demonstrating how valuable the right protection can be.
“While we are extremely proud to have maintained the high level of claims payouts reported in 2016 in the first half of 2017, we continue to focus on providing customers with the best experience at point of claim. It’s crucial we get this right every time as this is when customers really see the value of what they’ve invested in, and when they really need support.
“As part of this, earlier this year we launched a key person replacement service for business protection customers and introduced the use of electronic death certificates to avoid delays in paying claims. In addition to this in June we signed up to the Protection Distributors Group’s (PDG) funeral payment pledge, to help bereaved families meet the funeral costs of their loved ones. These are all initiatives that put customers and their needs at the heart of what we do.
“If our customers, or their family members, find themselves having to make a claim and deal with the emotional and financial upheaval a death or serious illness can bring, our experienced team of claims assessors are on hand to support them when it matters most.”
Aegon’s commitment and investment in the protection claims experience was recognised by the Protection Review this year when they won the Life and Health Claims Award.
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Notes to Editors
- In the UK, Aegon offers retirement, workplace savings and protection solutions to around two million customers and employs over 3,000 staff. More information: www.aegon.co.uk
- As an international life insurance, pensions and asset management company based in The Hague, Aegon has businesses in over twenty five markets in the Americas, Europe and Asia. Aegon companies employ over 28,000 people and have millions of customers across the globe. More information: www.aegon.com
- Aegon is the Lead Partner of British Tennis