Reporting Period
Policy Brand
Feb
2026
01
Portfolio Overview
CommentaryThe portfolio reached 56,000 live policies in June (up from 54,745 in May), with new business sales of 2,566 holding near May's record. The 12-month rolling loss ratio was 45.63%, edging back to the upper end of the 35–45% target band after May's dip. Earned premium grew to £6.01m, keeping pace with portfolio expansion.
Live Policies
52,185
New Business Sales
1,859
Loss Ratio (12-Month Rolling)
45.63%
Target 35–45%
Earned Premium (12-Month Rolling)
£5,663,638
combined portfolio
02
Claims Activity
CommentaryJune saw 256 claims received, up from 228 in May, consistent with the summer peak in riding activity. Accidental Damage again exceeded Theft (153 vs 100). Claims frequency was 4.59%, still below the 5% target though up on May, tracking the seasonal rise in claims against the growing book.
Claims received
203this month
Claims frequency 3.98%
Target < 5%
Claim types Combined only
Type breakdown Combined only
| Theft | 72 |
| Accidental Damage | 67 |
| Public Liability | 0 |
| Personal Injury | 0 |
| Total | 139 |
Theft breakdown Combined only
Home vs Away from Home
Home
Away from Home
| At Home | 22 |
| Away from Home | 50 |
| Total Theft | 72 |
03
Claims Closed
CommentaryThe acceptance rate was 70.14% and the denial rate fell further to 10.86%, the lowest in the period and comfortably within the 25% threshold. Lock-related declinatures remain the dominant theme — Non Approved Bicycle Lock (5), Locked Incorrectly (4) and Unsecured Bike (4). Average claim duration rose to 17.70 days — still inside the 25-day target but worth monitoring as the aged-claims backlog builds.
Closure outcomes
53.3%
23.0%
16.8%
Accepted
Withdrawn
Declined
| Accepted rate | 53.27% |
| Declined rate Target < 25% | 16.82% |
| Withdrawn rate | 23.02% |
| Avg life cycle / claim duration Target < 25 days | 6.50 days |
| Claims re-opened | 0 |
Declinature reasons Combined only
04
Open ClaimsNot split by brand
Commentary — WatchOpen claims rose to 268 in June, with the largest group (101) within the normal 0–15 day window and a notable build-up in the 30–60 day band (71). 29 claims are aged over 2 months — broadly stable on May's 27. The aged bucket continues to be driven primarily by the carbon repair route (8–10 weeks per claim) and items awaiting policyholder input:
- Carbon repairs in progress — the specialist carbon route (shipping, inspection, repair) runs 8–10 weeks and remains the single largest driver of the aged bucket.
- Replacements in progress — delays driven by policyholder choice, stock availability, or awaiting policyholder co-payment.
- Policyholder input awaited — claims paused pending evidence, damage reports, or settlement acceptance from the policyholder.
- Standard repairs, investigations and a small number of other claims (including physio and public liability) make up the remainder.
All open claims
198
0 – 15
Days
Days
86
15 – 30
Days
Days
20
30 – 60
Days
Days
7
2 Months+
6
Aged distribution
05
Financial SummaryNot split by brand
CommentaryTotal claims cost for June was £313,458 across 256 claims, an average of £1,484 per claim — down from May's £1,583 despite more claims, indicating a lower-severity mix. Recoveries of £5,487 were received and outstanding reserves eased to £29,027. No leakage was identified.
Total Claims Payment / Cost
£247,860.00
Average Claims Payment
£1,175.24
per settled claim
Recoveries, Leakage & Reserves
| Recoveries received | £2,242.68 |
| Leakage identified | 0 |
| Total outstanding reserves | £34,430.07 |
06
Customer ContactNot split by brand
CommentaryTotal contacts were 8,084 with 2,417 calls received. The 96% answer rate softened slightly and ASA rose to 42 seconds — still inside the 45-second target but the closest it has run to the threshold. Email response time of 156 minutes remains comfortably inside the 4-hour target.
Total Contacts
580
email, chat & calls
Calls Received
230
inbound
Answer Rate
98%
of inbound calls
ASA
29s
avg speed to answer · Target ≤ 45s
Email Response
82.7m
Target ≤ 4 hours (240 min)
Speed of response by channel
| 93.5 minutes | |
| Chat | Not available |
| Calls | 29 seconds |
| ASA (Average Speed to Answer) Target ≤ 45s | 29 seconds |
07
Customer ExperienceNot split by brand
CommentaryCustomer satisfaction held at 100% CSAT in June, with Trustpilot steady at 4.5 and Google at 4.7. Satisfaction continues to hold up strongly even as claims decisions are applied rigorously.
CSAT
97%
customer satisfaction
Trustpilot Score
4.5/5.0
★★★★½
Google Score
4.7/5.0
★★★★★
08
Quality MonitoringNot split by brand
Commentary179 claims and 3,986 customers were sampled this month, returning RAG scores of 95.50% and 88.58% respectively. Quality monitoring continues to show no systemic handling issues.
Claims Sampled
75
this month
Claims Avg Score (RAG)
100%
All Green
Customers Sampled
75
this month
Customer Avg Score (RAG)
100%
All Green
09
Fraud DetectionNot split by brand
Commentary1 fraud referral was raised and 1 closed/withdrawn in June. No fraud-related payouts or settlements occurred. The fraud pipeline remains low-volume and well-controlled.
Fraud Referrals
3
referred this month
Fraud Closures / Withdrawn
3
closed or withdrawn
Fraud Recoveries
0 — No Payout
or Settlement
or Settlement
this month
10
Complaints ActivityNot split by brand
Commentary — WatchComplaints logged rose to 10 in June (up from 8 in May). The dominant reason remains claim denial relating to terms and disputed sums (7), with general admin/customer service (2) and a product terms complaint (1) making up the rest. The upheld rate rose to 33.33% (3 of 9 closed) — up from 10% in May and worth monitoring for any pattern.
Complaints Logged
6
logged this month
All Open Complaints
8
currently open
Freq. (Open Claims)
5.04%
% of open claims
Freq. (Active Policies)
0.01%
% of live policies
Open complaints — aged table
1 – 14
Days
Days
4
15 – 28
Days
Days
2
29 – 42
Days
Days
2
43 – 56
Days
Days
0
| Complaint reason | |
| Complaint reason | Claim denial — Terms & disputed sums |
| Terms & disputed sums / charges | 5 |
| Claim services — General admin / Customer Service | 1 |
| Payment — Arrears Related | 1 |
| Life cycle | |
| Avg life cycle / complaint duration | 31 days |
Complaints closed & outcomes
| Total complaints closed | 5 |
| Closed complaints duration | |
| ≤ 3 days | 0 |
| > 3 days < 8 weeks | 4 |
| > 8 weeks | 1 |
| Internal outcome | |
| Not upheld | 5 |
| Partial upheld | 0 |
| Upheld | 0 |
| Complaints upheld % | 0% |
Root cause analysis
| Root cause (current month) | Lack of Understanding / Knowledge of Policy |
| Root cause (YTD) | Lack of Understanding / Knowledge of Policy |
Complaint reason (closed)
Claim denial — Terms and disputed
sums / charges
sums / charges
Financial Ombudsman Service (FOS)
| FOS referrals received | 2 |
| FOS decisions received | 0 |
| FOS upheld % | 0% |
| FOS outcome | |
| Not upheld | 0 |
| Partial upheld | 0 |
| Upheld | 0 |
Status —
No FOS decisions upheld against firm