Consumer Duty, cost of living and collaboration: What lies in store for protection in 2023?

Industry predictions for next year

John Brazier
clock • 11 min read

COVER canvassed the protection industry to find out what the hopes, predictions and expectations of advisers, networks and providers are for the next 12 months.

Rose St Louis, protection director at Lloyds Banking Group: "We have had many false starts on awakening the protection need and really starting to see the protection gap close.  2023, and the implementation of Consumer Duty, is the point where the whole industry needs to look at themselves and each other, and genuinely ask 'are they doing the right thing by customers?' "This is not about doing the minimum to comply, but demonstrating purpose, desire to engage, identify and solve customer problems, and maintain that relationship beyond the sale. "Customers face tough choices in the ...

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 Individual Protection

Bupa rolls out health subscription service

Bupa rolls out health subscription service

Access to non-policyholders

Jaskeet Briah
clock 03 October 2024 • 2 min read
Reassured partners with Confused.com

Reassured partners with Confused.com

Life insurance comparison

Jaskeet Briah
clock 02 October 2024 • 2 min read
Are we talking enough about protection and succession planning?

Are we talking enough about protection and succession planning?

Why are more IHT liabilities for gifts not being protected?

Naomi Greatorex
clock 01 October 2024 • 4 min read