MUTUALITY MEANS SHARING Claire Oldstein Group Customer and Marketing Director Wesleyan Assurance Society
Our Purpose Is To Create Brighter Financial Futures for the Professions We All Trust
INTRODUCTORY VIDEO
https://youtu.be/c1jcbhzEBO8
HERITAGE STEEPED WITHIN BIRMINGHAM
On Friday 23rd April 1841, members of the Wesleyan Methodist Church in Birmingham gathered in a small room next to the chapel on Cherry Street and founded the Wesleyan Provident Assurance Society. It was the height of the Industrial Revolution, during Queen Victoria’s reign and the Society’s aim was to help factory workers in Birmingham save for sickness and funeral expenses. The first premium was collected on 27th August 1841. They collected a few pennies every week to help with sickness and funeral expenses, offering life assurance and annuities even back then…
WHY WESLEYAN
LIFELONG PARTNER
WE ARE THERE FOR OUR CUSTOMERS AT EVERY STAGE OF THEIR CAREER AND BEYOND WITH FINANCIAL ADVICE AND SUPPORT We get to know the person behind the professional, asking questions that other advisers don’t and help navigate and simplify the complex financial decisions they face. With our team of Specialist Financial Advisers, we build trusted and enduring partnerships to ensure our customers’ financial and family security reflects their achievements and aspirations. We serve our customers throughout their lives, from their student days, through career milestones to leaving a legacy.
SUPPORTING THE MOST TRUSTED PROFESSIONALS IN SOCIETY
DOCTORS We have a long heritage of providing financial advice for GPs and Hospital Doctors, from student years through to retirement and beyond.
DENTISTS We understand the dental profession and support with both personal and practice related finances from investments through to estate planning. Practice Plan, Medenta and DPAS are all part of the Wesleyan Group.
TEACHERS Our expertise and experience, gained from a deep understanding of the education profession, enables us to support with everything from mortgages and investments to retirement planning.
INDEPENDENT FINANCIAL AD- VISORS Wesleyan’s smoothed With Profits Growth Fund sits on multiple independent wrap platforms, making it easy for IFAs to combine into a client’s investment portfolio.
OUR MEMBER PROPOSITION DELIVERING ON OUR MUTUAL VALUES
When someone becomes a Wesleyan member, they join a community that offers much more. They become part of a society that’s driven to deliver brighter financial futures. That means not only exceptional service and ongoing support for as long as they remain a member, but a whole range of rewards and benefits too. Shaped around our members, our suite of benefits includes everything from insurance discounts through to retail vouchers and more.
MEMBER REWARDS
Being a mutual has always meant a lot to us at Wesleyan. We work hard to benefit those who invest in our business. It’s an integral part of who we are, and it allows us to share our success with our customers and members.With our member rewards scheme we’re doing just that. Each year, qualifying members can choose a gift voucher from a range of well-known retailers including John Lewis, Marks & Spencer and Amazon.
INTRODUCING MEMBER REWARDS It is not just our members who recognise the value of this member benefit. Our Member Rewards have received industry recognition receiving a Highly Commended award for Best Innovation in Customer Service at the Financial Service Forum 2024 Awards for Innovation & Transformation and a nomination for Best Loyalty/Benefits linked to a Financial Product at the International Loyalty Awards 2023.
SUCCESS OF MEMBER REWARDS
Top 5 Reward selections
Being a mutual has always meant a lot to us at Wesleyan. We work hard to benefit those who invest in our business. It's an integral part of who we are, and it allows us to share our success with our customers and members. With our member rewards scheme we're doing just that. Each year, qualifying members can choose a gift voucher from a range of well-known retailers including John Lewis, Marks & Spencer and Amazon. 22,997 Members selected a Reward 4.5/ 5 Average experience rating for the process 94% Happy with the variety of Reward choices
65%
1. Amazon 2. M&S 3. Wallet
34% 28% 15% 11%
% believe initiative positively influences decision to remain
4. John Lewis
5. Costa
4%
Customer Feedback
Wesleyan Wallet 6.8k members have downloaded the wallet app Since launch, members have spent a total of £25.8k across 431 purchases
u
“Surprised and very pleased with my reward. Thank you”
“All good. Huge thanks for the unexpected gift”
u
“Excellent idea. Motivates me to stay with the company”
MEMBERS ADVISORY BOARD
The Wesleyan Members Advisory Board (MAB) is a fundamental part of our strategy to be insight-led. Made up of 16 eminent professionals from the medical, dental and education sectors, the MAB enables Wesleyan to put members first and truly understand the evolving personal and professional needs of our customers. By leveraging their wealth of knowledge and expertise, they play a pivotal role in shaping our Society and strategy with relevant propositions. Within each of our core professions, the MAB is representative of different life and career stages.
As part of bi-annual board sessions and direct engagement, our Members Advisory Board:
Shares valuable insights into our key professions’ personal & working lives Influences how we tailor our products & services to customer needs Informs our future strategic planning Helps to shape our mutuality proposition Refines how we communicate with our members
The Members Advisory Board help us stay true to the needs of the people who matter most – our members, our customers and our colleagues, as well as the communities in which we live and work.
WESLEYAN FOUNDATION
As a mutual, making a difference to the communities in which we live and serve is hugely important to us. From the Wesleyan Foundation through to our employee volunteering programme, we aspire to offer support where it matters.
Since its launch in 2017, Wesleyan Foundation has donated almost: £5.9m to over 600 different charities and positively impacting the lives of
“We are incredibly grateful to Wesleyan Foundation for their generous donation which will enable us to provide free, nutritious breakfasts to more pupils across the UK, giving many more pupils the chance to reach their full potential.” Catherine Mackenzie, Head of Corporate Partnerships Magic Breakfast following a Wesleyan Foundation donation created 150,000 breakfasts for children in need.
an estimated 550,000 people throughout the UK. The focus is on supporting great causes that are important to our members and their communities. Each year, we offer a diverse range of grants designed to achieve our goals of supporting Education, Health, Reducing Inequalities in our communities and protecting our Environment.
THE NEXT STEP
The Next Step is an altruistic programme designed to help medical and dental students transition from university to working life. It nurtures 10,000 penultimate and final year students every year at 50+ medical and dental schools across the UK by:
Delivering financial education talks Final year photographs Running panel events with subject experts and industry leaders Creating blogs and lots of relevant content Social media activity – the latest being ‘Survive and Thrive’
EVP MUTUALITY AND ME
Financial advice: retirement planning investing funding insurance
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