Industry poll: 87% agree that the claim is the 'core product, not the policy'

clock • 2 min read

Some 87% of protection industry experts surveyed agreed that the 'claim is our core product, not the policy', according to a poll from the Protection Review.

  Speaking at the 2017 LifeSearch awards held in March, Tom Baigrie, chief executive of LifeSearch had urged the protection industry to have a rethink about the significance and perception of claims. The remainder of those polled disagreed (8%) or said they were undecided (5%.) The Protection Review surveyed 291 people from across the industry including advisers, insurers and reinsurers. In his speech, Baigrie had argued that the object of paying more claims would drive industry growth due to improved customer trust, turning "conventional wisdom on its head" about huge detriment...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Income Protection

Why we still need to talk IP

Why we still need to talk IP

"Increasing sales starts with education"

Matthew Chapman
clock 14 March 2024 • 3 min read
Cirencester Friendly pays out £9.3 million in 2023

Cirencester Friendly pays out £9.3 million in 2023

Nearly half of claims were from Millennials

Jaskeet Briah
clock 14 March 2024 • 2 min read
British Friendly pays out £5m in IP claims

British Friendly pays out £5m in IP claims

Provider pays out 89% of new IP claims in 2023

Cameron Roberts
clock 11 March 2024 • 1 min read