COVER poll: Fewer providers will hurt protection market

clock • 1 min read

COVER readers overwhelmingly believe the current shrinkage in protection market provider numbers is a detriment to the sector.

In the last poll, COVER asked "Do you worry that the number of protection providers is going to reduce to a market damaging level, due to reduced competition?"

Two thirds (65%) of respondents agreed that only a few big players is bad for the market.

Less than a third (30%) feel it will not affect the market, while 4% suggest reduced competition is unlikely to happen despite the current activities.

With Aegon set to announce its protection fate in September, and Friends Provident planning a new Friends Life proposition once the merger with Axa's life arm is complete, it appears we will not have long to find out.

As a greater emphasis on group risk is coming from many quarters, something which often leads to providing employee benefit products, COVER asks to what extent do you deal in employee benefits for SMEs?

Cast your vote or see the poll on the front page.

More on Individual Protection

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read