Simplyhealth paves the way to sustainable success
Health needs are changing and in 2014 Simplyhealth carried out a major strategy review that examined every aspect of the business to establish how best to serve customers now and in the future. Simplyhealth’s latest Report and Accounts reflect on the successes of 2014 and look forward to how they will help set the foundations for a sustainable future.
Simplyhealth delivered a strong financial performance in 2014, generating a profit before tax of £9.7 million and retaining a profit of £6.4 million. The Group’s success meant that it was able to donate £1.4 million to health related charitable organisations, which has touched the lives of over two million people.
2014 also saw Denplan, which has been part of Simplyhealth since 2011, expand its presence in the veterinary market, while growing the number of people it serves to over two million. Denplan was named Best Dental Plan Provider at the Health Insurance Awards for a fifth consecutive year and, increased its contribution to Group profits before tax to £14.3 million.
2014 was a successful one; we achieved what we set out to. We continue to focus on our customers and our performance, we also took a critical look at our business, understanding where we are strong and where we need to improve, so we can set an ambitious, sustainable path for the future. It was important to do this, so we can respond to the changing world of healthcare and deliver more for our customers. I believe that our success will come from forging strong partnerships and continuing to invest in the future, by taking responsible risks and focusing the efforts and talents of our people.”
Simplyhealth also continued to expand its Independent Living retail arm in 2014, opening new stores in Droitwich and Norwich. In March 2015 it also completed the acquisition of West Midlands based Care and Mobility, which doubles its presence in the market, and increases its number of stores from seven to 13.
Simplyhealth paid 3.5 million claims in 2014, of which 84% were claims on health cash plans for everyday healthcare needs such as visits to the dentist, optician or physiotherapist. Private medical insurance claims accounted for 10% and its dental plans accounted for 6% of claims paid.
To find out more about Simplyhealth and to access the 2014 Report and Accounts please visit www.simplyhealth.co.uk/sh/pages/annualAccounts/index.jsp. You can also watch videos highlighting three of the charities Simplyhealth supported in 2014 and hear how its Customer Advisors support customers through the 4,000 health conversations they have every day.
Simplyhealth has been helping people access affordable healthcare for 140 years, through a variety of health cash plans, dental plans, private medical insurance, and mobility and living aids. For more information, please visit www.simplyhealth.co.uk.