Press Release: Holloway Friendly dramatically speeds up IP claim turnaround times

Holloway Friendly has introduced a new innovative tele-claims service supported by e-signatures.

Claimants can now be assessed over the phone by Holloway Friendly’s claims team rather than using a traditional paper based process with wet signatures.

Trials of the new tele-claims service supported by e-signatures have resulted in dramatic reductions in the time taken to reach a decision and pay benefits, with claimants receiving their claims decisions with averages of just four and a half hours from their first contact with Holloway Friendly and the vast majority having decisions within 1 working day.

Suzy Esson, Head of Member Services at Holloway Friendly says

“Paying claims quickly is vital. It’s the moment of truth for our members and the whole reason for buying income protection. We are thrilled with the results of our tele-claims service and the impact it has had with claimants”.

Tom Conner, Director of Advisers at Drewberry said,

"Ultimately, how we act at claim stage is how we will be judged as an industry, so it is excellent to see such commitment from Holloway to paying claims quickly. Clients need certainty as quickly as possible at this difficult time in their lives."

Andy Milburn, Proposition and Marketing Director at Holloway Friendly says

“We welcome the industry adopting much quicker turn-around times for all claimants – not just those with income protection policies. We encourage other providers to offer a range of options to claimants that speed up the claims decision making process to being one that can be delivered, in a caring way, effectively, in hours rather than days”.

ENDS –

Further details / different angles…

If you need more details or want a different angle please speak to Suzy Esson, Head of Member Services, either by phone 07538 853568 or by email Suzy.Esson@holloway.co.uk

You can also speak to Andy Milburn, Director of Proposition and Marketing, either by phone on 07375 079727, via DM on Twitter to @Andrewgmilburn or via Andy’s email address andy.milburn@holloway.co.uk.

Mike Taylor, COO, is available for interview either over the phone or face to face.

In case you didn’t know…

Holloway Friendly is the original Holloway income protection company founded over 135 years ago in 1880 by the MP for Stroud, George Holloway, and was the first insurer in the UK to offer cover against loss of income through accident, or illness.

Holloway Friendly is a mutual friendly society active in the UK advised income protection market. It currently offers products which protect members and their families against income lost through accident and sickness, via financial advisers from its small HQ in Gloucester.

• Holloway Friendly is financially strong with assets of over £51m under management.
• It has a good claims record – 96% of all claims paid out in 2016.
• The mutual has recently recruited a new senior management team led by CEO Stuart Tragheim.

Journalist training support
Are you new to the industry, or would you like to refresh your current protection nous? Either way, if you would like to know more about the UK protection market, or income protection, please contact Andy Milburn on his contact details above.

We would be happy to offer you 121 training based on your needs, in your office, at a time that suits you, if that would help?