Award-winning Health Cash Plan and Wellbeing provider Health Shield has announced its 2019 results, revealing another year of growth across all its wellbeing products and services. Despite the challenging backdrop last year – articulated by an increasingly competitive health and wellbeing market and Brexit related uncertainty – the friendly society’s premium income rose by 4%, the 19th year in succession it has increased.
Health Shield achieved revenue of £42.9m, up from £41.3m in 2018. Membership also continued to increase, with 113,000 members joining during the year. The society now covers 345,000 contributing members and their families.
Health Shield key results:
Fortunately, over its 140+ years, Health Shield has become accustomed to riding and surviving many storms. This is due to the fact that we are continuously evolving in line with our unwavering overall aim – a commitment to excellent customer service and operating in the best interests of our members: namely our customers and our own employees.
“2019 represented a seminal year for Health Shield, which saw us rebranding the company, undergoing a complete digital transformation and launching a new digitally-enabled health and wellness proposition in the shape of Breeze: the three elements intrinsically linked and aligned with our ‘living and breathing’ - as opposed to words on a wall - brand values: always listening, member focused and continually improving.
“Each and every one of our services is designed to help businesses and their employees stay in the best of health. And, although no-one could have predicted what was to happen in 2020, the developments introduced in 2019 could not have come at a more crucial time for our customers: 9 in 10 UK CEOs** now saying that conducting wellbeing initiatives is driving long-term changes to their business model as a result of Covid-19 and almost a quarter adding that doing so would have the biggest positive impact on their organisation’s long-term reputation.”
*Based on a 1-hour appointment and an 8-hour working day
**PwC, CEO Panel Survey 2020 – UK Findings, Aug 2020
^The app meets NHS quality standards for clinical effectiveness, safety, usability and accessibility and has a supportive evidence base.