At a glance
- Zurich today announces that it paid 99% of customer claims in the UK during 2018 with payments to customers worth over £1.6 billion
- Over 99% of general insurance customer claims were paid, with 140 of these valued at more than £1m
- "We hope that this will help to reassure our customers that we’re here to do the right thing by them when they need us most" - David Nichols, UK Chief Claims Officer.
Zurich today announces that it paid 99% of customer claims in the UK during 2018 with payments to customers worth over £1.6 billion.
Over 99% of general insurance customer claims were paid, with 140 of these valued at more than £1m.
The majority of motor and home claims were paid (99% and 95%). Where a small percentage of home claims weren’t paid out, customers had claimed for wear and tear which is not covered by their policy. Likewise, claims for accidental damage were not accepted for customers who didn’t have the specific cover in place.
Zurich paid 96% of all retail protection claims including life, critical illness and income protection insurance during 2018. A small number of claims were not covered due to non-disclosure of medical information on applications (such as a history of smoking or alcohol misuse) and where an income protection customer may have returned to work before the policy’s payment period started.
Where this occurs, many customers benefited from support services available through their cover such as speedy access to rehabilitation including physiotherapy or counselling.
Highlights of Zurich’s £1.6bn paid in claims in 2018
General Insurance Products
- Nearly 81,000 claims
- 99% of consumer motor claims paid
- 95% of consumer home claims paid
- 140 payments of over £1m
- Over 2,700 protection claims paid
- 91% of critical illness, 95% income protection and 99% life claims paid
- Average critical illness payment made during 2018 was just over £83k and for life claims £51k
- Breast cancer is the biggest cause of critical illness claims accounting for 23% and mental illness (28%) was for income protection
Commenting on these figures, Zurich’s UK Chief Claims Officer, David Nichols said;
“We’re proud to report again that we’ve paid the vast majority of claims across all products. We hope that this will help to reassure our customers that we’re here to do the right thing by them when they need us most.
“Over the last year, we’ve made a huge investment into new technology and systems to make the claim journey as smooth as possible. This includes the launch of our Chabot Zara, enabling customers to report claims 24 hours a day with most enquiries responded to within a matter of hours. We’ve also introduced image and video submission to help support customers report their losses.
“This investment in innovation and the steadfast professionalism of our all our claims teams has been acknowledged with numerous industry awards, while Zurich has been recognised as one of the best brands in the UK, ranking 12th in the latest UK Customer Satisfaction Index published by the Institute of Customer Service.”