Ouroboros: The product innovation problem

The Financial Conduct Authority's (FCA's) Pure Protection Market Study's interim findings highlights, among other things, that products have remained somewhat stagnant in protection in recent memory. The report specifically says that firms cite "upfront costs for product development, commission structures, regulatory requirements and building intermediary relationships" as key challenges for new entrants to the market, and innovation by existing players. Whilst many of the headlines may have focused on loaded premiums and a potential route to targeted support for protection, the produ...