Unum pays out £471m in claims during 2023

Group income protection (GIP) accounted for most claims (49%) with £229m paid out for this product, followed by group life insurance (34%) which paid out £160m and group critical illness cover (GCI) (9.3%) which paid out £43m. Unum's dental claims payments also increased by 29% at the end of 2023, exceeding £31m overall and accounting for 6.6% of claims. Cancer remained the top reason for claiming across all three group risk products (69% for GCI, 39% for life insurance and 30% for GIP). For GIP, this was followed by mental health and cardiovascular claims, while it was followed by...