The protection market has seen a lot of changes and heard a number of opinions, but what have we learnt? Scottish Widows' Johnny Timpson shares his thoughts on a few important things we've learnt over the past two decades.
The "Protection Gap" can seem daunting, so be focused. There is an often quoted industry figure that estimates the size of the UK "protection gap" to be £2.6 trillion*. Such figures can have a debilitating effect, by suggesting it is a problem that's simply too large to solve. Instead, we have focused on some key areas where we feel we can make a difference. This has been primarily through raising awareness, educating people, and building advocacy, through a regular flow of claims statistics...
There will be no further increases to Insurance Premium Tax (IPT) this year, the Autumn Budget 2017 has revealed.
The government will immediately give NHS trusts £350 million to allow them to plan for the winter, Chancellor Philip Hammond has announced in the Autumn Budget.
British Friendly has introduced an online Adviser Toolkit to encourage income protection sales.
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.