Our Strategy in a Nutshell

We LISTEN to our Members

We THINK of our Members

We ACT for our Members

We are an insurance company that provides income protection insurance for Members who can’t work because of illness or injury. By supporting our Members with income when they most need it, we can help them to pay their bills and return to work when they are fit and able.


We are a Mutual and this means that we act in the interests of our Members at all times. Our Holloway Members are entitled to share in our surpluses and we aim to pay annual and terminal bonuses. We also have other Group and Individual Members who join us for our income protection cover only and are not entitled to bonuses.


We have a rolling 3-year growth strategy that ensures we can continue to meet our obligations to Members as well as meeting the needs of new Members into the future.


Our primary objective is to continue as an independent business, to meet the demands of current regulation and to remain financially strong. We recognise that changing financial and economic conditions can impact the Society and its membership and we therefore constantly monitor to ensure that we act in the best interests of our Members at all times.


Fundamental to our Strategy is to:

  • Protect Members’ interests by ensuring that the Society remains financially viable by constantly reviewing our strategy.
  • Develop the Society Member proposition by responding to changing customer needs.
  • Grow the Society through increased revenue from a range of income protection initiatives, both in terms of the Society’s products and distribution markets.
  • Control our costs and expense ratios.
  • Ensure that bonuses for Holloway Members are set at a fair rate, whilst recognising the rights of income protection only Members.
  • Play to our strengths as a specialist income protection provider by leveraging our competitive advantage as a niche player.


Our Strategic Initiatives


In order to drive the business forward, we follow these key initiatives and this underpins all our actions:



Diversify through income protection only (IPO) products

We will pursue the development of IPO products to increase premium income.


Distribution development

We will seek new distributors and intermediaries to gain access to a wider customer base, including better use of digital channels.


Improve Member experience

We will consider the effects of our actions on our Members, ensuring that we act in their interest at all times.


Maintenance of financial viability and risk monitoring

We constantly monitor our financial indicators and manage risks.


Response to regulatory requirements

We assess our strategy in the context of existing regulatory provisions and ensure that we are meeting all our obligations.


Operational Capability

We will ensure that our staff and our systems are capable of delivering our business commitments and supporting our strategic plan.


Corporate Governance

We ensure that our business is controlled and monitored according to the Rules and Regulations of our Society.


Environmental, Social & Governance Responsibility

We will endeavour to improve the Society's positive, sustainable, responsible impact on its workplace, members, community and the environment.


Our Culture And Values


Our Culture is what underpins how we operate on a day to day basis. We demonstrate our Culture through our declared Values.

Our Values define who we are as a business and underpin our behaviours to all our stakeholders - our Members, intermediary partners, suppliers and each other.



What does it mean for our stakeholders?


We do what we say we will, when we say we will.


We are flexible to the situation, informed by our Rules.


We do the right thing.


We will explain our actions.


We treat people with honesty and respect.


Key Performance Indicators


These are the measures we consider to determine if we are achieving our strategic objectives:

  1. We look at premium income, expenses, benefit claims, total assets and free asset ratio and our Membership levels.
  2. We consider our annual bonus payments to with-profits (Holloway) Members.
  3. We review our annual financial budgets and our five-year forecaster tool to ensure that we are on track, both now and in the future.

The Board considers these indicators regularly, enabling timely decision-making and taking action to address any underperformance.