HSBC Life supports more customers as it opens up value added benefits
HSBC Life (UK) Limited (“HSBC Life (UK)”) is extending its Value-Added Benefits proposition to new customers who apply for protection cover via external distribution partners including price comparison websites. The benefits will also be offered to existing protection customers who bought their policy via external distribution partners.
The Value-Added Benefits are being extended to these customers in response to feedback as HSBC Life (UK) continues to focus on value for money, quality, good outcomes for customers and a simplification of the proposition to its growing network of external distribution partners.
Responding to growing customer demand for access to the proposition, HSBC Life (UK) offers the medical support services via the dedicated HSBC Health app, including: second medical opinions, unlimited remote GP appointments, prescription services, physiotherapy, mental health support and an annual health MOT.
Data from HSBC Life (UK’s) healthcare provider, Square Health shows that customers rated its services as 4.8 out of 5 and said it answered their questions in 95% of instances*. This strong feedback highlights how well the Value-Added benefits support customers and demonstrates how they receive an outstanding service from Square Health.
Opening up Value-Added Benefits is the latest development in HSBC Life (UK’s) drive to ensure it is easy to do business with advisers and customers. Its digital transformation has included a digital underwriting innovation which dramatically reduces the time advisers and customers spend on protection applications when referred for nurse screening.
Partnering with one specialist healthcare service provider rather than a range of providers makes it easier for HSBC Life (UK’s) customers to access the Value-Added Benefits as they deal only with Square Health who work with more than 5,000 UK medical specialists and has over 20 years’ experience in the market.
Mark Hussein, CEO, HSBC Life (UK) Limited, said: “Protection insurance providers need to constantly innovate and listen to their customers. We want to be there for our customers throughout the lifetime of their protection policies to maintain engagement and further meet their health and wellbeing needs by providing this valuable range of services.”
Steve Casey, Marketing Director, Square Health, said: “We are delighted to be providing an enhanced added-value benefits proposition to HSBC Life (UK). We share HSBC Life (UK’s) ambition to offer the value of integrated medical services and by doing so, present considerable new opportunities to HSBC Life (UK’s) fast growing network of external distribution partners.”
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Media enquiries:
HSBC Life
Ellis Ford ellis.ford@hsbc.com
Citigate Dewe Rogerson
Samantha Stewart +44 (0) 7834 336065 samantha.stewart@citigatedewerogerson.com
Notes to editors:
* HSBC Life (UK) Limited and Square Health data. 27 members completed this feedback between May 2022 and April 2023.
About HSBC Life (UK) Limited
HSBC Life (UK) Limited is part of the HSBC Group, one of the world’s largest banking and financial services organisations. HSBC Group serve more than 40 million customers worldwide through a network that covers 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. We aim to be present where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.
HSBC Life (UK) Limited was founded in the UK in 1988 and offers insurance services to meet protection and investment management needs. Our services and solutions are available through HSBC banking channels and selected third parties, including financial advisers and price comparison website. For more information on HSBC Life (UK) Limited range of services go to https://www.life.hsbc.co.uk/ and for more information on HSBC please go to https://www.hsbc.com
About HSBC Life
HSBC Life is the insurance business of the HSBC Group. We manufacture life and health insurance products in Hong Kong, mainland China, Singapore, India*, France, UK, Malta, Mexico, and Argentina. HSBC Life offers a range of insurance products to meet the protection, education, retirement, wealth growth and legacy planning needs of our customers. Our services and products are available through HSBC banking channels, selected third parties, including financial advisers and aggregators. *Through our joint venture, Canara HSBC OBC Life Insurance.
About HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of $2,990bn at 31 March 2023, HSBC is one of the world’s largest banking and financial services organisations.
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