Broadstone Takes a Look at FCA GI Value Measures Data

The latest from Broadstone for you;

Analysis from leading independent insurance consultancy Broadstone of the FCA’s latest General Insurance Value Measures data for 2025 shows that 68.1% of healthcare cash plan premiums were paid out in claims.

Despite a small downtick from 68.7% in 2024, it marks the highest proportion of any general insurance line of business detailed by the FCA. The claims acceptance rate for healthcare cash plans also decreased slightly from 92.8% to 91.1% year-on-year.

The total retail premiums written in this market saw modest growth rising from around £427 million to over £435 million. Healthcare cash plans remain a relatively niche part of the insurance market which suggests there may be scope for greater awareness and adoption of the product, particularly as employers look for relatively affordable ways to support employees with everyday healthcare costs.

Covered for life pet insurance saw a small increase in the regulator’s value measures data with 62.8% of premiums paid out in claims, up from 58.6% the year prior.

It marked the second highest value measure followed by motor insurance which registered a notable improvement with 59.1% of premiums paid out in claims (2024: 54.2%). Motor insurance also saw the highest claims acceptance rate with 98.7% of claims accepted in 2025.

Kathryn Moore, Senior Actuarial Director at Broadstone, commented: “Healthcare cash plans continue to demonstrate strong value for policyholders, with more than two-thirds of premiums paid back out through claims in 2025 – the highest proportion across the general insurance products included in the FCA’s value measures data.

“The figures reflect the practical nature of these products, which are designed to support people with regular, everyday healthcare costs such as dental treatment, eye care and physiotherapy, rather than simply providing protection against relatively rare events.

“Motor insurance also saw a meaningful increase in the proportion premiums paid out in claim and it will be interesting to monitor this change moving forward as insurers continue to manage pressures from repair, parts and labour costs. Pet insurance has similarly moved in a positive direction, highlighting the value these policies can provide in protecting owners from potentially significant and recurring veterinary costs.

“Claims ratios are only one measure of value and should be considered alongside factors such as claims acceptance, coverage, exclusions and customer outcomes. However, the latest figures provide encouraging evidence that these products are delivering meaningful financial support when policyholders need to claim.”