2023 in review: Insurer reflections on 'year of significant change'

Consumer Duty, cost of living and consolidation

Jaskeet Briah
clock • 7 min read

A range of protection providers shared with COVER their views on how the industry has fared throughout 2023, including opportunities, successes, and frustrations.

Rose St Louis, protection director, Scottish Widows: "2023 has been a year of significant change for the UK protection industry. We saw the market contract with the purchases of Aegon and AIG. This has understandably created some concern amongst the adviser community regarding the level of choice available to their customers. It's crucial that providers are vocal that they are ‘here to stay' both in their words and actions. Investing in protection infrastructure and innovation will help provide confidence across the market, allowing advisers and customers to trust providers to be there f...

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

Aviva updates online trust process

Aviva updates online trust process

Digitised trust for individual protection

Cameron Roberts
clock 28 November 2025 • 1 min read
Fairer Finance adds former FCA chair to consumer board

Fairer Finance adds former FCA chair to consumer board

Charles Randell CBE joins

Jaskeet Briah
clock 28 November 2025 • 1 min read
A history of protection products

A history of protection products

The good, the bad (and the ugly)

Tom Baigrie and Ryan Griffin
clock 27 November 2025 • 6 min read