Our thoughts on...

What do you really think of the FAMR?

What do you really think of the FAMR?

A damp squib, a stitch-up for the banks to steal market share, or a blueprint for the next ten years in financial services? The Financial Advice Market Review has certainly divided opinion more starkly than anything since the RDR. That’s why it’s an ideal candidate for the latest Space Money Talks forum. And this time, […]

Can robots help advisers grow the protection market?

Can robots help advisers grow the protection market?

An Asimo for the protection market When we think about modern robots we often picture the Honda’s walking, talking robot Asimo that brewed and served Stephen Fry a cup of tea a few years back. In financial services, by ‘robot’ we mean the automation of processes and relationships across computers, tablets and smart phones. Yet […]

Don’t look forwards or backwards; just look upwards

Anyone worth their salt in the Protection Industry knows that historically, consumers generally buy financial protection when triggered by one of the following life events: – Buying a home – Having a child – Establishing a business. But times are changing. Housing charity Shelter recently warned that it might take young couples who decide to […]

Simplified Products

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 […]

Tales of the unexpected in the protection market

Is the protection market developing in unexpected ways? G-day has hogged all the headlines, which is understandable and it is true that some lessons need to be learned about communication between providers, advisers and customers. But on balance the industry has coped with the change reasonably well and the established fundamentals still apply even if […]

So many things to think about!

The next few months may prove to be just about the most tumultuous in the history of retail financial services and protection insurance is certainly not immune from the turmoil. First the market faces direct changes. The gender directive is the most immediate with providers expected to start coming out with their new single gender […]

Consumers want to make sure their GI covers them

We have been doing some work in the general insurance market, and have noticed an interesting trend which could have some read across for protection. Although for a long time, the classic home and contents insurance product has been driven by price, consumer behaviour is changing. Some of the firms we have been working with […]

Protection churn challenge down under

Having just returned from Australia, it might be an interesting exercise to compare market practice in their protection market with the UK because the two countries are radically different. Australia may even have a problem that the UK market doesn’t have to grapple with. Protection policy premiums in Australia tend to step up with age rather […]

Reaping the benefits of doing what it says on the tin

We’re always delighted when a client (and friend) wins an award. So then, congratulations to Pete Chadborn at Plan Money, who was called on stage at the Health Insurance Awards to receive the ‘gong’ for Best Protection Intermediary.   Standing-up Pete received the award from that other notable comedian Tim Vine who, upon clocking the […]

Evaluating the costs in a give-them-more lose-lose conundrum

Protection insurers were on the receiving end of quite a challenge from advisers last week  – coordinated by the Financial Technology Research Centre – to dramatically extend post-sales online support. The FTRC suggests that advisers are looking for providers to add a significant number of post sales functions. It is quite a shopping list. It includes annual […]