Chief Executive Report to AGM
15 June 2011
2010 was a good year of recovery in our investment portfolio following the 2008 recession and economic collapse
We are now ahead of the 2007 crash position which is no mean feat. We continue to pursue a very cautious investment policy.
Continued to make a 99% claim payment record with over 50% of payments made within 5 working days of claiming and 90% within 10 working days. This is testament to ensuring all new members are correctly scrutinised prior to acceptance and good claims handling to ensure all claims comply with our rules.
We have improved staff efficiency and have established a more effective marketing structure to attract new professional members into the future.
However the economy remains tough and keeping hold of members is equally as hard as finding new members.
We hope to continue to improve efficiency and give all our members a high quality service. The ever increasing level of red tape form all our regulators will continue to make growth difficult
We have all the building blocks in place to build on over 80 years of income protection insurance for professional people into the future despite the economic position
David Thompson
