Simplyhealth builds on its foundations for a bright future
With the appointment of new CEO Romana Abdin in 2013, Simplyhealth is building on its foundations as an organisation defined by its commitment to its customers, partners and communities. Simplyhealth’s latest report and accounts reflects on the successes of 2013 and touches on how they will help to shape the future of the business.
As an organisation without owners, only customers, Simplyhealth is driven by success in the long term. Despite the relatively slow growth in the UK economy in 2013, Simplyhealth made significant steps forward for future growth, retaining a profit of £8.7 million, adding to reserves that now stand at £258 million, well within the requirements for Solvency I.
2013 was a fantastic year for Simplyhealth. Our continued investment in our customers and in our people has meant that we now help over four million individuals in the UK with their healthcare needs. We pride ourselves on achieving the highest levels of customer service. I’m proud of our people and delighted that in 2013, for the second year we won the coveted Institute of Customer Service award for customer commitment. 2013 also saw the completion of our new centre of excellence for private medical insurance in Bristol’s historic Clifton Downs, which brings with it new ways of working which signals our commitment and our intent for the future. Denplan, which has been part of Simplyhealth since 2011, also had an extremely positive year, adding a significant contribution to the Group income in 2013. This combined Group success meant that we were able to donate £1.4 million to health related charitable and community projects helping us to make a difference to those in our communities. We are at an incredibly exciting time, we are in a strong position to develop our offering for our customers into the future and by using our unique values and sense of purpose we can continue to differentiate ourselves from the market. We will never forget that healthcare is about people: that each health story is personal. We are an organisation whose strength has come from keeping our customers close, but we intend to get closer. Simplyhealth deserves the best, and because of that, I’m genuinely in awe of the duty and responsibility that underpins my new role.”
Simplyhealth paid £245.5 million claims in 2013. Claims on health cash plans for everyday health care needs such as visits to the dentist, opticians, physiotherapist or chiropractor equated to 55% of those claims, with private medical insurance accounting for 41% and 4% attributed to dental plans.
Simplyhealth’s retail arm opened three new Independent Living outlets in 2013, and early 2014 saw the opening of a fourth. This strategic approach to growth for Simplyhealth Independent Living will be a key driver for the future.
To find out more on Simplyhealth and to access the latest report and accounts please visit www.simplyhealthannualreport2013.co.uk. You can also hear what our customers are saying about us in a series of short videos as well as listen to comment from our Executive Directors on the events that helped shape Simplyhealth during 2013.