"As a mutual society, we are proud to often go above and beyond what’s expected to make a genuine difference."
- Michelle West-Wiggins, Director of Customer Experience at Cirencester Friendly
Analysing demographics, almost half (47.6%) of claimants were 27-41 years old – mostly likely with young families to support - over a third came from Gen X (42-58 years old) and 7.4% were from claimants aged 59 or above.
Notably, one in ten claims came from Gen Z (17-26 years old), helping them to avoid falling into financial difficulties at the start of their career. Cirencester Friendly believes this demonstrates that protection can benefit anyone, of any age.
Amongst male claimants, 41% were triggered by accidents, followed by musculoskeletal conditions & arthritis (29%), and hip & knee problems (10%). In comparison, musculoskeletal condition & arthritis (23%) was the most common reason for a claim amongst women, while only 18% related to accidents. This was followed by mental health conditions (16%) which was four times more common amongst women than men.
Covid-related claims were handled separately. Of which, 90% (589) of the 653 claims filed received a pay-out. In total, £618,154.89 has been paid out so far with the average claim lasting under thirty days.
“Our mission is to be here when our members need us the most and these claims figures demonstrate we’re living up to this goal. However, we cannot afford to be complacent,” warned Michelle West-Wiggins, Director of Customer Experience at Cirencester Friendly. She believes there’s always more to do so that advisers and members are clear about when they can claim.
“We’ll be working hard throughout 2024 and beyond to enhance our claim and digital proposition and build even closer relations with our partners to make this happen,” Michelle concluded.
