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  • Critical Illness

Full market round-up: Critical illness claims stats 2019

Percentage stats for each provider

Full market round-up: Critical illness claims stats 2019
  • COVER/CIExpert
  • 03 July 2020
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COVER and CIExpert team up to present last year’s provider claim stats all in one place

According to the Association of British Insurers (ABI) and Group Risk Development (GRiD), the protection industry paid 98.3% of all claims in 2019.

According to the findings, the number of critical illness (CI) claims paid amounted to 17,995 and a total £1,215,957 was received by individuals and families.

The percentage of CI claims for 2019 was 91.6% and the average value of a claim was £67,573.

Gathered by CIExpert, the table below show the percentage of claims paid by individual insurance providers last year, with analysis from Alan Lakey beneath.

 

Claims Paid

Claims declined

Due to non-disclosure

Not meeting the definition

Year

Aegon S Equitable

94.0%

6.0%

1.7%

4.3%

2019

AIG

96.0%

4.0%

3.0%

1.0%

2019

Aviva

92.6%

7.4%

1.8%

5.6%

2019

HSBC

98.0%

2.0%

 

 

2019

Legal & General

91.9%

8.1%

 

 

2019

LV=

87.4%

12.6%

3.6%

6.2%

2019

Old Mutual Wealth

Part of ReAssure which refuses to release claims stats

Royal London

92.6%

7.4%

 

 

2019

Scottish Widows

93.0%

7.0%

2.0%

5.0%

2019

Vitality Life

92.9%

7.1%

 

 

2019

Zurich

90.0%

10.0%

3.7%

6.3%

2019

Alan Lakey, director, CIExpert said: "The average of the ‘live' companies for 2019 is 92.8% which is similar to previous years levels. Within these figures are some extremes with HSBC showing top with 98% and LV= on the bottom rung with 87.4%.

"Most declined claims are for failing to meet the claim definition with only around 2.6% due to non-disclosure. The figures should not be seen as a league table because other factors will have shaped the declinatures. Many insurers will have a range of different claim wordings all of which either assist or mitigate against a successful claim.

"Overall it highlights that the industry is continuing to meet consumer expectations and that both advisers and consumers need to understand how the precise condition wording will impact on a diagnosis or medical treatment."

Further reading

Protection industry pays 98.3% of 2019 claims
  • Individual Protection
  • 07 May 2020
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  • Critical Illness
  • Critical Illness
  • percentage
  • Providers
  • claim stats
  • full market
  • CIExpert
  • LV=
  • AIG Life
  • Aviva
  • Zurich
  • Aegon
  • Scottish Widows
  • HSBC LIFE

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