Expert insight, analysis and commentary across the entire protection industry.
by ProtectionReview 14/05/14
London 18 March 2014 More than two thousand people recently packed out Methodist Central Hall in London to hear a talk by Daniel Kahneman, Nobel prize winner and father of behavioural economics. I was fortunate enough to be one of them. These are my notes. Kahneman began by stating that writing his book, Thinking, Fast and Slow, had not been an enjoyable experience. He did not expect to sell many copies. He has been surprised by its success. In the UK more than one million copies have been sold. (In France, on the other hand, sales are nearer six thousand…
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by ProtectionReview 03/04/14
“I want to give something back to society”, seems to have become a much-used mantra that hs lost some of its currency in recent years. Perhaps it could be used more in British business to reinforce a real culture of customer care. It never cesases to interest me that, when east of Europe, the idea of giving the customer something - both to make them feel better and also induce them to buy more - is common place; in a Marrakesh soukh or a street stall in Hong Kong, there seems to be an inate understanding that customers like to…
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by ProtectionReview 25/03/14
Did you notice all the headlines about protection from the Budget? Nor did we at Space 01. The revolution for savers and investors heralded by Chancellor George Osborne did not impact on protection insurance or at least not directly. The Budget threw up almost countless opportunities for advisers, for investment platforms and even those insurers with a broad business mix, though it is clearly a challenge for those firms who are reliant on annuity business as the various share price falls demonstrated. But there is a risk that the case for protection and even the voice of the protection industry…
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by ProtectionReview 18/03/14
Many people are living for today: thinking and worrying about things that have happened or are happening to them – rather than considering what might occur. Research carried out in connection with our Insurance Report 2013, Connecting generations – protecting generations, concurs with recent findings from the Money Advice Service that a "living for today" mentality is prevalent among consumers. This is, perhaps, a natural consequence of the drop in real incomes many people have experienced. It contrasts to the signals from government that longer term personal planning will soon be a requirement rather than an option We are faced…
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by ProtectionReview 11/03/14
IFAs are lazy. Or are they? One man’s laziness is another man’s effective time management, or something. The question is; what should we be expected to do for ourselves and what should we expect the life offices to do for us? Take protection research for example. When recently researching key person cover, I needed to compare contracts and costs for a blend of Short-term IP, indexed CI & level Life. I’d established my short-list of five providers who were in the frame. You can’t readily compare key person menu plans via a portal so I had to go the old…
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