The 2023 annual report from Dentists’ Provident, a leading income protection provider for dental professionals, shows that the Society, once again, performed strongly.

Dentists’ Provident distributed £7.5 million as bonuses to its members and paid £5.2 million in claims last year.

“Dentists’ Provident has skilfully navigated a challenging year and I am very pleased with these results. Our continued strength lies in putting our members at the heart of everything we do and doing what is right, not only for our current membership, but also for future generations,” says Giles Kidner, Chairman of Dentists’ Provident.

In 2023, the Society paid out sickness claims of £5.2million, with a new claims paid ratio of 99%. The number of Covid related claims fell significantly bringing sickness claims back in line with where we were before the pandemic.

The Society’s interest and loyalty bonus rates remain unchanged and the mutuality dividend for Income Security Plan holders rising by 11%.

“We manage our business conservatively. Our solvency position remains strong and we have worked hard to keep our costs under control despite inflationary pressures and without compromising our service or the quality of our plans,” says Farrukh Mirza, CEO of Dentists’ Provident.

The annual report, published this week, will be presented for approval at the Annual General Meeting. This will be held at Dentists’ Provident’s head office on Friday 24th May 2024, where all members are invited to have their say on important matters affecting their Society.

As a member-owned and led mutual, Dentists’ Provident’s sole objective for over 110 years has been helping dental professionals achieve financial security during periods of illness or injury. 

To find out more or read the full 2023 Annual Report visit: https://www.dentistsprovident.co.uk/media/1865/annual-report-2023.pdf

Dentists’ Provident, a leading income protection provider for the dental industry, paid out £5.2m to members in 2023, their latest figures show

Throughout 2023, Dentists’ Provident has continued supporting dental professionals. Their claims report for 2023 released today shows that 99% of new claims received a payment, compared to 99.1% in 2022.

The largest amount paid to an individual claimant was £87,800 and whilst the majority of the claims paid were to those aged 46-55 years-old, the youngest claimant was a 26-year-old dentist.

“In 2023 our claims decreased, mainly due to fewer Covid related claims. In another year of change and challenge for the dental professions, we are pleased to have remained a source of stability and assurance to our members. Our high claim payment rate and low levels of complaints are a testament to the benefits of an integrated approach to underwriting and claims. By following a thorough underwriting process, we seek to minimise issues for our members when they really need us,” says Simon Elliott, Chief Risk Officer of Dentists’ Provident.

The report shows that musculoskeletal disorders (23%), accidents (15%) and psychiatric disorders (13%) continued to remain as some of the most significant reasons for claims.

Farrukh Mirza, CEO at Dentists’ Provident adds: “We take pride in our plans and our service, which gives members confidence they have a dependable income protection plan that works for them.”

As a member-owned and led mutual, Dentists’ Provident’s sole objective for over 110 years has been helping dental professionals achieve financial security during periods of illness or injury.

To find out more or read the full ‘2023 Claim statistics’ report visit: https://www.dentistsprovident.co.uk/media/1858/claims-stats-2023.pdf .

The 2022 annual report from Dentists’ Provident, a leading income protection provider for dental professionals, shows that the Society performed strongly in an unpredictable and volatile year

Dentists’ Provident distributed £7.3 million as bonuses to its members and paid £5.6 million in claims last year.

“Dentists’ Provident has skilfully navigated a challenging year and I am proud to present these results. Our results are also part of a deeper story about a well-considered mix of empathy and diligence in our claims process and an underwriting process that places a premium on quality rather than quantity. With all the personal, professional and financial challenges our members have faced over the last few years, we have tried to remain one of the few things in their lives that is reliable and consistent,” says Giles Kidner, Chairman of Dentists’ Provident.

In 2022, the Society paid out £5.6m on a total of 1,849 claims, with an admirable new claims paid ratio of 99.1%. The Society’s loyalty bonus remains unchanged at 15% and the annual interest rates for the various plans remained unchanged, at between 4% and 5%.

Farrukh Mirza

“We have our members’ interests at heart and manage our business conservatively. Despite the inflationary pressures, our total net operating expenses in 2022 were lower than in 2019. Our investments also performed well in a difficult market. Our results are a testament to the strength of our strategy and the business model, and the talent of our people,” says Farrukh Mirza, CEO of Dentists’ Provident.

The annual report, published this week, will be presented for approval at the Annual General Meeting. This will be held at Dentists’ Provident’s Head office on Friday 26 May at 2pm, where all members are invited for an opportunity to have their say on important matters affecting their Society.

As a member-owned and led mutual, Dentists’ Provident’s sole objective for over 110 years has been helping dental professionals achieve financial security during periods of illness or injury. 

To find out more or read the full 2022 Annual Report visit: https://www.dentistsprovident.co.uk/media/1822/annual-report-2022.pdf

Dentists’ Provident, a leading income protection provider for the dental industry, has paid out £5.6m to members in 2022 and received nearly 60% more new claims compared to the previous year, their latest figures show

Underpinning the increase has been a rise in Covid claims of a shorter duration than previous years. Throughout 2022, Dentists’ Provident has continued supporting dental professionals. Their claims report for 2022 released today shows that 99.1% of new claims received a payment, compared to 98.9% in 2021.

The largest amount paid to an individual claimant was £62,430 and whilst the majority of the claims paid were to those aged 46-55 years-old, the youngest claimant was a 27-years-old dentist.

Unsurprisingly, infectious diseases were one of the main reasons for claims in 2022, with Covid infections making up the majority of these claims.

“Nearly three years on from the pandemic and we have again seen a resurgence in Covid claims, thankfully for our members, the vast majority of infections have been less severe and of a shorter duration.

“The dental profession has shown incredible resilience since the start of the pandemic, continuing to work tirelessly within their communities. With all the personal, professional and financial challenges of the last few years, we have tried to be one of the few things in their lives that is reliable and consistent by being flexible, approachable and supportive,” says Farrukh Mirza, CEO of Dentists’ Provident.

The report also shows that musculoskeletal disorders (23%), psychiatric disorders (12%) and accidents (12%) continued to remain as other significant reasons for claims.

Simon Elliott, Chief Risk Officer adds: “We take pride in our personalised and thorough underwriting, giving members confidence they have a dependable income protection plan that works for them. In 2022 we have had one of the highest level of claims paid but without a corresponding increase in complaints. It is easy to attribute our success solely to our people and our processes but none of this would be possible without our members, who have been incredible.”

As a member-owned and led mutual, Dentists’ Provident’s sole objective for over 110 years has been helping dental professionals achieve financial security during periods of illness or injury.  To find out more or read the full ‘2022 Claim statistics’ report visit: https://www.dentistsprovident.co.uk/media/1815/claims-stats-2022.pdf .

It’s Back Care Awareness Week (3-7 October) – an annual awareness campaign run by the Backcare charity to focus on helping to avoid preventable back injury. For dental professionals, in a high-risk profession for musculoskeletal injuries, this is a great opportunity to remind yourself how to manage and prevent back pain

Lower back pain affects people of all ages and is a leading contributor to disease burden worldwide¹ and figures from NHS England show back pain is the largest single cause of disability in the UK².

There are many areas of the musculoskeletal system from which dental professionals could suffer with pain or injury, but backs, necks and shoulders are the most common. Dentists are at high risk for neck and back pain with data showing 70% of dental professionals reporting incidences of back pain³ and a study of French dentists showing this rising to nearly 80%⁴.

Many dental professionals spend most of their workdays in static, awkward positions, with high work pressures and not much time for breaks. A study conducted by Cinar-Medini showed that over half of health professionals, including dentists, with back pain had incorrect working postures⁵.

Static postures put a greater strain on your body than dynamic postures, requiring you to contract more than 50% of your muscles just to maintain your position⁶. Relying on static postures could lead to muscle imbalances that can perpetuate, as the more pain you experience to correct these imbalances the less you are likely to be able to do so. Also, the way you move as a dental professional can mean overarching the lumbar spine, potentially leading to postural imbalances, mal-coordination and inevitably pain.

What the claims show

At Dentists’ Provident, almost a quarter (24%) of sickness claims in 2021 were due to musculoskeletal disorders. In 2021 we paid out £387K to new claimants due to musculoskeletal disorders – half of the benefits paid were back pain related.

We have received claims from dentists as young as their 20s and 30s who have had to take months off work due to issues with their lower back. Some have been unable to practice for years because of lower back pain and repeated musculoskeletal issues.

“Back pain continues to be a common issue for our members who lose their capacity to work. Like many other health conditions, the earlier you can identify the issue and find way to manage it the better. Our claims experience shows that failure to seek treatment for persistent symptoms can often lead to a stage where it becomes a chronic or recurrent condition,” says Paul Roberts, Head of Claims at Dentists’ Provident. 

Back care prevention

Journal articles and studies mention an array of steps that all dental professionals can take to prevent, reduce the chance of, and improve musculoskeletal pain and stress. Some of these include; stress and relaxation exercises, aerobic exercises, rest, correct posture and resistance training⁷.

Last year Dentists’ Provident produced a factsheet with tips to manage back pain, which is also sent to support members with musculoskeletal problems.

Tips include treatment and preventive care plans, but also has a focus on workplace adjustments that you can make in your surgery or clinic to the ergonomic design of your working area, ensuring your do less reaching and stretching.

This includes considering the type of chairs used by both patients and for you as a professional, as well as equipment such as loups. Loups are well known as a method of supporting you in maintaining good posture and preventing twisting and bending, as they allow you to look from a natural distance rather than having to bend down – but make sure their weight and magnification is right for you.

The factsheet also has a range of tips on creating a personal care plan to keep fit, flexible and mobile.

Whatever stage you are at in your career now, take the time to think about whether you have a preventive approach to your physical health and wellbeing, and that you try to spot early signs of discomfort or pain. If you look after yourself and protect what is important now, you could be set for a long, fulfilling and pain-free career.

To find out more about the Back Care Awareness week campaign running from 3-7 October, visit www.backcare.org.uk.

To download the members’ factsheet from Dentists’ Provident about ‘Managing back pain’, visit www.dentistsprovident.co.uk/member-benefits/

References:

¹ https://www.thelancet.com/clinical/diseases/back-pain#:~:text=Non%2Dspecific%20low%20back%20pain,not%20possible%20in%20most%20cases
² https://www.england.nhs.uk/blog/charles-greenough/
³ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4616098/
⁴ https://link.springer.com/article/10.1007/s00586-019-06080-4
⁵ https://pubmed.ncbi.nlm.nih.gov/27858698/
⁶ https://www.nature.com/articles/s41406-020-0122-1
⁷ https://dentistry.co.uk/2017/03/14/reduce-musculoskeletal-pain-dentists/

As the leading income protection provider for the dental profession, Dentists’ Provident are supporting this year’s Income Protection Awareness Week (IPAW) running from 17-21 October 2022

With more than 150 million working days lost in the UK due to sickness absence in 2021 and with only 6% of adults in the UK having income protection[1], the Income Protection Task Force (IPTF) is running an awareness campaign to highlight the importance of people being insured against the risk of not being able to work after becoming ill or getting injured.

The campaign kickstarted last month with ‘100 days to go’ and it’s #LetsTalkIP social campaign leading up to Income Protection Awareness Week. It’s the second time the awareness week will be run and will include a range of insightful materials and useful information to help raise awareness of the importance of having income protection insurance.

“An income protection insurance plan can help you maintain your lifestyle without depleting your savings, relying on your family or the welfare state for financial support, as it will provide you with a regular payment to help replace the income you lose,” says Kirby Mardle, Chief Finance Officer at Dentists’ Provident.

“Having helped dental professionals achieve financial security during periods of illness and injury for over 110 years, we know all too well the safety net income protection can give individuals.  As a leading income protection insurance provider to the dental profession, we are proud to be working with the IPTF in raising awareness of the importance of income protection.”

The IPTF’s members are businesses from across the financial services industry, involved in income protection insurance in the UK. Dentists’ Provident along with more than 30 other businesses from across the insurance industry are supporting the IPTF’s mission to raise awareness of the value of income protection through the campaign.

Andrew Wibberley, co-chair of the IPTF said: “Getting your income protected as soon as possible is incredibly important to your future. Our awareness week is just one way we try and get this type of insurance noticed, particularly by younger generations. In my experience, we are seeing a rise in young people claiming on their income protection plans, especially for health issues such as musculoskeletal problems and mental health.

Unexpected time off work due to illness when you’re young could mean you’re unable to meet your basic living expenses or disrupt your plans to buy a house. Making sure you have money coming in if you have an injury or illness, lets you plan for life with more certainty.”On Monday 19 September the awareness week starts with a webinar about the importance of income protection, with the rest of the week being more targeted at financial and specialist advisors.

You can find our more or sign up here: www.iptf.co.uk/income-protection-awareness-week/ 

To find out more about Dentists’ Provident visit www.dentistsprovident.co.uk

[1] Financial lives survey 2020 page 60/222

The 2021 annual report from Dentists’ Provident, a leading income protection provider for dental professionals, was approved at its Annual General Meeting last week

Last year’s results from Dentists’ Provident show a ‘resilient performance’ says its Chairman – The Society distributed nearly £7 million as bonuses to its members and paid over £5 million in claims.

“I am very pleased to report that we have once again delivered a resilient performance, despite the ongoing pandemic. Our results are a testament to the robustness of our strategy and business model, and the talent of our people,” says Giles Kidner, Chairman of Dentists’ Provident.

In 2021 the society paid out £5.4m on a total of 1,190 claims, with an impressive new claims paid ratio of 98.9%. The Society maintained the loyalty bonus paid to leaving members at 15% and the annual interest rates for the various plans remained unchanged at between 4% and 5%.

“We know how the impact of the pandemic continued to be felt by dental professionals in their daily lives last year. Many are still working tirelessly to catch up, while facing more worries, illness and financial uncertainty from restrictions in the way they practice.”

“This past year, our members have shown incredible strength despite the longevity of the ongoing situation. By being flexible, approachable and supportive, we have tried to be one of the few things in their lives that have not become more complicated as a result of the pandemic,” says Farrukh Mirza, CEO of Dentists’ Provident.

At the Annual General Meeting, held at their Head office on Friday 27 May, all directors standing for election were successful, including Matt Payne, who joined the board in November 2021.

As a member-owned and led mutual, Dentists’ Provident’s sole objective for over 110 years has been helping dental professionals achieve financial security during periods of illness or injury.  To find out more or read the full 2021 Annual Report visit: https://www.dentistsprovident.co.uk/media/1773/annual-report-2021.pdf

Dentists’ Provident, leading income protection provider for the dental industry, has appointed Matt Payne to its board

As the new Executive Director at Dentists’ Provident, Matt Payne will strengthen the company’s executive team with operational oversight of the information systems team.

Matt is a graduate in computer sciences and holds an MBA from Cardiff Business School. He has over 25 years’ experience in information technology development, operations and management, including senior leadership roles in financial services and software industries in the UK, US and EMEA.

“We are very excited about Matt joining the Dentists’ Provident Board. Like so many businesses, we are hugely dependent on technology, and we really wanted to further strengthen this area of our business. Matt brings a wealth of national and international experience and has made a great impact already,” says Farrukh Mirza, CEO of Dentists’ Provident.

“In my short time at Dentists’ Provident, I’ve been really impressed with the ethos of truly putting the individual members at the centre of all they do. I’m looking forward to getting to know the business even more over the coming months and help move Dentists’ Provident forward,” says Matt Payne.

Dentists’ Provident is a leading provider of income protection insurance for dental professionals. As a member-owned mutual their sole objective has been helping members and plan-holders achieve financial security during periods of illness or injury since setting up more than 100 years ago.

To find out more about all board members or Dentists’ Provident, visit https://www.dentistsprovident.co.uk/dentists/about-us/.

November’s focus is all about cancer. Mouth cancer specifically for most of the dental profession, who all year around, but especially in November spend time highlighting the disease as part of Oral Health Foundation’s annual awareness campaign.

Mouth Cancer Action Month is all about early intervention and spotting signs of the disease to save lives.

Lack of early intervention has been an increasing problem for most cancers since Covid-19, with the knock-on effect of the first lockdown becoming increasingly more prominent nearly two years on.

Diagnosis of early stage cancer fell by a third in the first lockdown, which saw a major disruption to NHS services and fewer people visiting GPs and hospitals for conditions unrelated to coronavirus.

Macmillan estimates that across the UK there are around 50,000 ‘missing diagnoses’ – meaning that compared to a similar timeframe last year, 50,000 fewer people have been diagnosed with cancer.

Claim figures from Dentists’ Provident mirror these trends, showing a 57 per cent drop in new cancer claims cases in 2020 versus 2019.  

“The figure is potentially a result of routine screening being delayed or people being hesitant to enter medical practices and hospital settings to discuss symptoms, which could have led to decline in diagnosis,” says Paul Roberts, Head of Claims at Dentists’ Provident.

Covid impact on cancer care

The impact on cancer care due to Covid-19 is widely reported.

In February this year Cancer Research UK stated that 40,000 fewer people have started their cancer treatment – a figure largely driven by a drop in the number of people diagnosed with cancer in 2020.

“The number of people diagnosed with cancer or starting treatment in the UK each year is usually relatively predictable. We don’t see large changes within a cancer site year on year unless a big change is introduced, like a new screening programme. So, a drop of 40,000 is big,” says Jon Shelton, a Senior Cancer Intelligence Manager at Cancer Research UK.

Dealing with the backlog

A recent article in the British Medical Journal states it will take the NHS more than a decade to clear the backlog of cancer cases missed during the pandemic without a recovery plan and an increase in the number of oncologists.

One study published by DATA-CAN and University College London estimated that the pandemic could result in an additional 6,270 deaths over the next 12 months in people newly diagnosed with cancer. This number rises to an estimated 17,915 further deaths considering all people currently living with cancer.

What’s ahead

While charities agree the true impact of Covid-19 on cancer diagnosis and treatment is hard to measure, expectations are, as society has returned to some normality in 2021, cancer referrals will rise again and missed diagnoses to be picked up.

Dame Cally Palmer, National Cancer Director for NHS England reported on the BBC that referrals and treatments have been above normal levels since March 2021.

Despite this there is still a large backlog of around 16,000 people currently waiting more than 62 days for a diagnosis, of whom about 12% will have cancer.

There is expectation that cancer-related insurance claims will mirror the delayed diagnoses and rise in the coming years as a result.

Bryan Gross, Head of Underwriting at Dentists’ Provident said: “In 2020 we paid out almost £550,000 in cancer claims. While we can’t speculate what’s ahead, any backlog of a delayed cancer diagnosis in society would naturally filter into claims within our members’ profession too.”