HSBC Life UK has been confirmed as a signatory of the Protection Distributors Group’s (PDG) Claims Charter for 2025.

The move follows a year in which HSBC Life (UK) Limited paid out £93 million in life and critical illness claims, with a claims paid rate of 97.53% for life insurance and 94.44% for critical illness.

The average turnaround time for settling life claims in 2024 was 19 days, but this figure has already fallen to 13 days in the first quarter of 2025, attributed in part to the adoption of a new digital medical report provider.

Around 67% of life insurance claimants received a decision on the day their claim was submitted.

For critical illness, the average claims turnaround time stood at 41 days in 2024, improving to 32 days during the first three months of 2025.

TRANSPARENCY IN CLAIMS PROCESS

The PDG was established to drive improvements in the way protection products are distributed and serviced, with a particular focus on making the claims process more transparent and supportive.

The PDG’s Claims Charter sets out standards designed to ensure claimants receive empathetic and efficient service during what are often highly distressing periods in their lives.

The Charter stipulates that customers should be given a named point of contact, receive regular updates, and have their claim forms assessed within three working days.

Medical evidence should be reviewed within five working days, and once a claim is approved, payment is expected within 72 hours.

Richard Waters, head of protection distribution at HSBC Life UK, said: “Our priority is to support and offer care to our customers and their loved ones at such challenging times in their lives.

“Retaining full status with the Protection Distributors’ Group demonstrates our commitment to providing the highest standards of customer care and reinforcing the value of our proposition.”