Expert insight, analysis and commentary across the entire protection industry.
by ProtectionReview 28/03/13
Bob: What! I might pay £1000 per year for 30 years and still have nothing at the end? Tim: Yes but you might be ill and never be able to work again! Bob: What! And you want me to spend another £1000 a year in case the NHS can’t treat me and if I’m not ill that money will also be wasted. Tim: Yes but you never know it could happen tomorrow. Bob: Ah but for £100 per year I could buy a cash plan and get money back when I go to a dentist or optician. Buying that type…
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by ProtectionReview 20/03/13
The Treasury has launched a new set of simplified products. Well, it was nearly a launch because there are no actual products yet - quite a significant missing ingredient - as you will probably agree. We know what sort of products will be included as per the recommendations of former regulator Carol Sergeant and her review. They are an instant access savings account, a 30-day notice savings account and of more interest in this neighbourhood, a life insurance product. There are some pretty obvious reasons why the protection industry might dismiss this development as an unimportant one or at least…
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by ProtectionReview 27/02/13
The noise of IFAs bemoaning the service they receive from life offices is nothing new. Tiresome, I imagine. “Get over it,” I expect is the reaction; “what do you expect with your one application per month?” Surely it’s just a case of the 80/20 rule whereby service capacity is apportioned according to the 20% of accounts that produce 80% of their business. So how about a chance to start afresh? A clean slate. First impressions, without prejudice. Just such an opportunity was recently presented to us due to a new adviser joining and because his experience is limited to single-tie…
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by ProtectionReview 19/02/13
Much has been said and written recently about declined claims going viral on social media. This should not have come as a surprise and it is going to become the norm, long after Twitter has been usurped by the next ‘big thing’. Readers might like to follow one conversation just started by Angry Policyholders@scotprovsaysno Have you been let down by an insurer? We would like to hear from you. (Posted 15/2/13) The main issue has always been whether companies can justify the decisions they are making, it’s just that now a lot more people know about and are able to…
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by ProtectionReview 12/02/13
Starbucks Life? Costa CIC? Pret PMI? I write this short piece as someone who is, to all intents and purposes, re-joining the industry – full-time. I have been working in Financial Services throughout the last 28 (Oh my gosh, how did that happen?) years, but in recent times my specialism has been customer experience consulting and this has required me to work across many sectors looking at how companies can more effectively manage the customer interface. As part of my re-entry, I have been asking a few learned friends what’s been going on, beyond the contact centres and the Twitter…
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