Product data.


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2006

2007

2008

2009

2010

2011

2012

Trend

*

Source: UK RDSI Brand Tracking research.

Number of UK Customers

5,744,003

5,782,363

6,578,078

7,045,034

7,053,446

6,854,062

7,190,925

+5%

Number of UK Policies

6,294,051

6,364,633

7,413,979

7,886,412

8,053,293

7,701,911

8,109,422

+5%

Number of Overseas Policies (France, USA, Netherlands)

N/A

N/A

N/A

N/A

N/A

1,090,034

1,159,205

+6%

Percentage of customers who are loyal to our brand in that they are likely to re-purchase the product/service in the future.

 

 

 

67%

61%

74%

73%

-2%

UK Complaints (reportable and non reportable) as a percentage of customers

0.69%

0.86%

0.82%

0.53%

0.47%

0.56%

0.58%

+3%

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Channel

 

Bank and building society

30.7%

Direct

7.3%

GI broker

8.3%

IFA

36.4%

Legal & General Network

11.4%

Other

5.9%

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Percentage of UK population

Percentage of our UK business

Green shoots: young, students/first jobs and newcomers to financial services
(Average savings and investments of £4,000)

25% (2010)
24.9% (2011)
26.9% (2012)

14% (2010)
15.9% (2011)
14.2% (2012)

Grey days: low earners and only likely to use very basic banking and insurance services
(Average savings and investments = £7,300)

Pink fizz: mainly young singles, busy lives, private renting or mortgaged and credit users
(Average savings and investments = £9,300)

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2009

2010

2011

2012

Number of customers whose pension we're responsible for paying every month

514,248

556,494

613,015

653,184

Total pension payments per annum

£890,000,000

£1,018,000,000

£1,126,000,000

£ 1,333,602,135

Average pension payments per year

£1,731

£1,829

£1,837

£2.041

Current Trends

In 2012, our average payment to pensioners increased to £2,041.

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2007

2008

2009

2010

2011

2012

Number of in force customer home insurance policies

1.2m

1.3m

1.2m

1.4m

1.5m

1.6m

Amount in claims that we paid out to customers to restore/place homes and possessions

£193m

£202m

£150m

£135m

£160m

£135.7m

Current trends

Significant weather events (floods, windstorm Kyrill and freezing weather) have affected our customers over the last six years. However, in 2012, despite customers experiencing more adverse weather events than 2011, due to a prolonged freeze in December 2010, total claims paid in 2011 paid were higher.

We work with industry body, ClimateWise, to better understand the causes and impacts of increasingly volatile and extreme weather events, and through the ABI are working with government on flooding issues.

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2008

2009

2010

2011

2012

Number of employees of businesses whose lives we insure

2,082,497

2,337,537

2,350,115

2,415,758

2,265,875

Number of people rehabilitated back to work in that year

Not available

Not available

800

875

Data is one year in arrears because of rehabilitation cycle

Percentage of employees in rehabilitation who return to work in the first year of absence

67.5%

72.4%

75.3%

79.4%

Data is one year in arrears because of rehabilitation cycle

Amount invested in rehabilitating people back to work

£2.9m

£3.4m

£2.9m

£3.1m

£3.9m

Amount paid out to clients per annum for critical illness cover

£7,270,416

£8,802,762

£7,474,000

£8,167,000

£7,105,839

Amount paid out to clients whose income we are protecting when they are unable to work

£28,985,815

£29,204,313

£31,304,287

£32,360,477

£30,552,060

Amount paid out to customers who have died

£157,558,421

£186,889,177

£195,619,000

£213,745,228

£201,499,061

Percentage of clients we pay out to on critical illness cover

78%

79.9%

73%

80.60%

79%

Percentage of clients we pay out to when the client dies

98.5%

95.30%

97%

99.30%

99.1%

Percentage of clients we pay out to when our clients are unable to work

91.5%

95.6%

97%

97.8%

99.2%

Current trends

Anxiety/depression - in 2012 we paid for 5,300 CBT (Cognitive behavioural therapy) sessions to help individuals recover and return to work.
75.1% of individuals suffering from anxiety/depression were helped back to work before the end of the deferred period.
82.8% of individuals suffering from anxiety/depression were helped to return to work within the first year of absence.
Musculoskeletal
80.2% of individuals who were suffering from musculoskeletal problems were helped back to work before the end of the deferred period
84.3% of individuals who were suffering from musculoskeletal problems were helped back to work within the first year of absence.

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2009

2010

2011

2012

Percentage of Critical Illness claims paid out to our customers

93.60%

91.80%

93%

93.1%

The amount of money we paid out to our critically ill customers

£152m

£147m

£177m

£209m

Do we always pay out to our customers?

Only 2.3% not paid due to misrepresentation (4.6% of claims had no cover for the condition suffered).
During 2012, 61 claims were paid even though the medical information we have doesn’t prove that the illness meets the policy definition. These are cases where we apply the spirit of the contract rather than the precise terms and conditions. We've had the full backing of our reinsurers on all of these claims.

The amount we paid out to beneficiaries when someone has unfortunately passed away with life insurance cover

£217m

£226m

£264m

£274m

The percentage of claims paid when someone passes away

98.20%

97.80%

97.8%

97.7%

Do we always pay out to our customers?

Only 2.1% not paid due to misrepresentation (another 0.2% weren't paid due to the first year suicide exclusion).
We’ve taken pride this year in paying out claims as soon as we become aware of them. There have been two high profile incidents where we have searched our database and found that the victims were customers. We have then contacted the family and processed the claim in our usual swift manner. We do not restrict this process to high profile cases, as soon as we’re aware that someone could claim we will contact them. We also paid on a policy despite evidence that the death occurred 8 minutes after the cover ended.

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2009

2010

2011

2012

Percentage of claims paid to customers who are unable to work because of health issues

77%

82%

92%

91%

Total paid out to supplement incomes while clients are too ill to work.

£1.34m

£1.57m

£1.35m

£1.36m

Do we always pay out to our customers?

There are no significant changes in the causes of incapacity. A combination of back, joint and muscle problems account for the largest proportion of claims. Mental health is the next largest group, then neurological disorders followed by cancer. These 4 groups account for 75% of claims. New claims incoming are similar to previous years as are people returning to work and other reasons for claims ceasing.

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2008

2009

2010

2011

2012

Assets under administration value for customers whose (non-pension) savings we are responsible for (£m)

25,984

31,073

38,321

39,199

40,976

Assets under administration value for customers whose pension savings we are responsible for (£m)

19,78

23,713

25,736

25,716

29,205

Percentage of customers who are not happy with their savings product and have complained to us

n/a

n/a

n/a

0.29%

0.30%

What trends are we seeing with our customers?

For customers saving for their pensions Assets under administration have increased above FTSE 100 growth rate in 2012, and we continue to help over one million pension customers save towards their retirement.
Overall we continue to help around 2.7million UK customers save for their pensions or for their futures with our financial products. Over 400,000 of these are saving online through our Investor Portfolio Service.
Around 785 customers who have endowments with us in 2012 were compensated. This has decreased fromTEXT?

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