Protection intermediaries should look towards the private medical insurance (PMI) sector if they wis...
Protection intermediaries should look towards the private medical insurance (PMI) sector if they wish to grow their business, according to an expert.
Speaking at the Forum, Lee Brooke-Pearce, senior manager UK financial services, performance improvement at Ernst & Young, said advisers should not ignore the PMI sector as the cover is important, although competing with other products like income protection (IP) and critical illness (CI).
Brooke-Pearce said: "PMI is considered less of a headline product. IP and CI are competing for space in the market."
He said the key was to identify customers' priorities and needs.
Overall, the market would benefit from some real leadership to take the sector forward.
"Healthcare is still perceived as something for the fortunate but this should be changed for the masses," he concluded.
