Industry Mark of Excellence Showcases Customer Commitment

02 Apr 2024

Published in: Member News

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A Wolverhampton-based health cash plan provider’s ongoing commitment to its customers has been recognised through an industry mark of excellence.

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Paycare’s policy documents have received the ‘Clear and Simple Mark’ from Fairer Finance, an independent ratings agency which works to help people make better financial decisions and ensure they receive optimum value from their insurance products.

The accreditation recognises excellence in transparency and communication and is awarded to organisations’ documents and websites that are written in simple language and which are clearly designed.

 Anthony Burns, Paycare’s CEO, said: “Traditionally, insurance product documents have been difficult to understand, with numerous amounts of jargon weaved in and small print at the end detailing specific policy restrictions and limitations. This can make it very confusing for individuals to not only understand the exact terms of their policy, but to know how to benefit fully from it.

 “As a business, we’ve always been passionate about making sure we put our customers first and in supporting them to reap the rewards of their health cash plans. And this means doing all we can to ensure that not only do they know what benefits are available to them, but that they know just how to access these simply and effectively.

 “Which is why we chose to work in partnership with the team at Fairer Finance to enhance our policy documents to ensure that they’re as accessible as possible for our Policyholders and that the details within them are clear, concise, and comprehensible.”

Externally reviewed against strict criteria, Paycare’s new documents have been carefully designed with the average UK reader in mind – with less words per page, shorter sentences, and the incorporation of more colourways.

 The traditional ‘Terms and Conditions’ format has also been changed to a more manual style, with an easy to navigate contents page and FAQs.

 Ant concluded: “The team has worked incredibly hard to ensure that our policy documents now provide even greater clarity and transparency, with this prestigious mark of approval testament to our continued dedication to our much valued customers.”

 Simplifying their policy documents has been just one of the many enhancements the Paycare team has actioned following the implementation of The Consumer Duty.

Introduced by the Financial Conduct Authority, The Consumer Duty requires regulated organisations to ensure good outcomes for customers through ensuring individuals receive communications they can understand; products and services which meet their needs and offer fair value; and customer service when and how they need it.

Further information about Paycare’s new look documents can be accessed via the website’s dedicated Policyholder Hub page.

Paycare supports the health and happiness of the UK through a range of Health Cash Plans designed to ease financial pressure and promote a proactive approach to wellbeing, with options available for both individuals and organisations.

As a not-for-profit, Paycare has been investing into its communities since 1874 – meaning Policyholders are positively impacting themselves, their families, and wider society too. Visit www.paycare.org to find out more.