Expert insight, analysis and commentary across the entire protection industry.
by ProtectionReview 23/04/13
It’s nice to see protection insurance getting some focus recently. How this will benefit consumers and the industry as a whole remains to be seen, but it does seem a step in the right direction. Rocket science it’s not, although depending on int– erpretation from some commentators you might think it is. The ‘discovery’ is that consumers put service and product ahead of outright price. Surely this makes sense when you look at other purchasing dynamics? There are not too many other products bought based on price alone. Is the difference that they tend to be tangible; cars, white goods…
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by ProtectionReview 16/04/13
THE MIRACLE OF MAGGIE As I write this Margaret Thatcher lies cold in a mortuary, awaiting a grand funeral; in the world she has so recently departed the heat of the debate generated by her death shows little sign of cooling, and I am not sure if my memory is playing tricks on me. Don’t worry dear reader, this short piece is not going to be political, but it does seek to put the business record straight. One of the many ‘misapprehensions’ of the recent post mortem debate has been the idea that the Iron Lady looked after her friends…
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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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