Westfield Health annual results reveal record year

Despite the most challenging economic environment in living memory, Westfield Health has reported solid growth in its annual results published for the year April 2008 to March 2009.

One of the UK's leading health insurance providers, Westfield's premium income in this year showed annual growth of 3.6% and Westfield paid out more in claims than ever before with the cost of providing benefits reaching £38.5 million - an increase of 3.4% on the previous year.

During 2008/2009 Westfield processed 684,000 policyholder claims - an increase in volume of 4.5% on the previous year.

Chief Executive Jill Davies commented: "The growth we have achieved tells you that Westfield is in excellent health and our annual results represent a first-rate performance particularly as we operate in the financial services sector, which has been particularly hard hit in this recession.

"The fact that we have paid out a record number of claims represents significant healthcare support for our policyholders, at a time when people may need particular help in budgeting for their everyday healthcare needs."

Jill said that importantly growth has been combined with sustainability and Westfield has controlled administrative costs while maintaining high customer service levels. This has resulted in a solid financial performance for the year resulting in the improvement of the products and services we provide for our customers.

One of Westfield's principle aims is to always deliver the products and services that are both important and right for our customers. To achieve this Westfield constantly surveys what customer priorities are, which can then be reflected in our products.

The annual independent survey of Westfield policyholders was carried out during 2009, for the third consecutive year, by The Leadership Factor (TLF), an organisation specialising in measuring and improving satisfaction and loyalty. The overall satisfaction index of 90.4% places Westfield in the top five per cent of companies in TLF's UK and Ireland database.

Jill said this demonstrates that Westfield is succeeding in its aim of delivering the customer care that policyholders and partners expect and deserve.

Jill summed up: "The cash plan sector is very competitive in a challenging economy. But these results show that Westfield is growing in strength and focus to deliver innovative benefits and plans, which have been applauded by industry experts and welcomed by employers and policyholders alike.

"Westfield continues to be successful in combining affordability and high value, backed by the excellent care that our customers deserve particularly in these difficult times."