The Protection Distributors Group (PDG) has announced the list of Claims Charter signatories for 2024.
The list is based on the new criteria focussed on the time to assess claims forms and medical evidence, in addition to the existing charter criteria.
Seven insurers have been named as signatories to the Claims Charter for 2024. They are Aegon, AIG, Guardian, Holloway, HSBC Life, Royal London and Shepherds Friendly.
The signatories will be issued with a 2024 Claims Charter badge to show advisers they have met this year’s criteria.
Every year the PDG announces its claims charter signatories after obtaining and assessing information on how insurers support claimants.
It said this year the charter was updated to introduce two new criteria relating to the time taken to assess both claims’ forms and medical evidence once received.
The charter now requires signatories to assess claims forms within three working days and evidence within five.
While this new criteria makes charter status harder to achieve, the group believe these additions are an important evolution given growing concerns about insurer service levels relating to claims.
The Claims Charter was introduced in 2018 to improve outcomes for claimants by raising basic levels of best practice undertaken by insurers.
The charter sets out several criteria that must be met before an insurer can become a signatory.
PDG said it is important the charter evolves to help the protection industry continue to improve customer outcomes and meet their changing expectations.
It added that it will continue to work with insurers to raise standards in claims service where delays can cause financial problems for claimants as well as additional worry and distress.
It noted the concerns of advisers about significant delays experienced at claim stage and pledged to improve customer outcomes particularly for vulnerable claimants.
PDG Chair, Neil McCarthy, said: “In response to concerns about service standards, we have introduced two new criteria to the Claims Charter that we feel ensure the charter is robust and reflects our commitment to raising standards across the industry.
“We are aware that a number of insurers have experienced challenges relating to service levels and we are mindful that the number of charter signatories this year has fallen, but we are really encouraged by the endeavours insurers are making to raise standards.
“We are engaged with those insurers not currently signed up to the Charter to stay close to the improvements that they are making and remain committed to raising standards across the whole industry.”
The Protection Distributors Group was established in 2016 by a group of protection advisers.
It aims to help people find the protection they need by encouraging insurers and intermediaries to deliver better consumer outcomes.
As of April 2024 there were 26 member firms in the PDG.
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