Campaign: Back our campaign to bridge the protection gap and ensure consumers are adequately protected
By Johanna Gornitzki
COVER magazine has launched an industry-wide campaign to raise the profile of the protection sector, following calls by industry delegates at the COVER Forum last October.
Intermediaries at the recent conference urged industry experts to do something to put protection higher up the consumers' agenda, arguing that making protection a household name was key to moving the protection market forward.
This is nothing new, however, as for years industry commentators have pointed out that highlighting the need for protection was vital if the industry was to realise its full potential.
That said, so far nothing that has been tried has been particularly successful.
The COVER campaign, entitled 'Promoting Protection', will, with industry support, finally make the breakthrough.
The campaign will focus in the first instance on developing common themes that can be promoted by all players in the protection industry, from the smaller one-band IFA to the larger insurers in the market. These themes will all highlight the importance of protection and be put forward in a way that will reach out to the public with a simple message about why protection products are an essential element in any family budget.
Like the warning sign on packets of cigarettes, these themes will make sure consumers will not remain in the dark about the future they could face without adequate protection.
Our goal is to encourage better industry communication and get different bodies and parties talking to each other through COVER magazine and, in so doing, reaching a consensus on what the common themes should be.
COVER will of course run a regular section each month on the campaign; publish regular updates on our newly created website www.promotingprotection.co.uk; and organise roundtable debates on the issue. We will also actively promote the campaign by lobbying key influencers and opinion formers.
The campaign will be divided into three main pillars:
People registering their support for the campaign
Developing the common themes
Deciding the best way to implement the themes
The challenge should not be underestimated but the time is right fo the industry to finally unite for the good of all – from policyholders through to providers.
It will not only help improve sales and strengthen the profile of the protection industry, but much more importantly, it will make sure people are properly protected.
This is a critical issue not just for the protection sector but for the Government too, as it is only a matter of time until the current £2.3trn protection gap will have a detrimental impact.
To begin, we need your support and we are now calling people from all areas of the protection industry – including intermediaries, insurers, reinsurers, trade bodies and politicians – to sign up to our campaign petition (for how to sign up see article below).
Without your support, this will not be feasible. So please join us now in the quest to promote your industry.
For more information on past campaigns, please see pages 17 to 18 and to sign up to the campaign go to www.promotingprotection.co.uk
