Cameron Roberts, editor, COVER, discusses what targeted support might look like for the protection industry, after the Financial Conduct Authority (FCA) floated the idea of implementing the scheme in its Pure Protection Market Study interim findings.
Among a slew of interim findings published in the FCA's Pure Protection Market Study announcement earlier this year, the regulator quietly teased the possibility of a targeted support-like scheme for protection to tackle the protection gap. Targeted support allows firm to identify consumer segments and provide suggestions based on common characteristics. Currently, its scope includes investments and pensions, with the goal of increasing engagement with the industries under its scope. To understand why targeted support works for protection, the work involved in implementation and the n...
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