The insurance industry needs to do more to promote protection, according to the Association of Briti...
The insurance industry needs to do more to promote protection, according to the Association of British Insurers (ABI). Research commissioned by the trade association showed nearly 70% of the 3,624 adults surveyed would not be willing to take out protection insurance.
The study, carried out by YouGov between 25 June and 1 July, found people were pessimistic about the current and future economic climate. However, despite this concern, consumers are failing to consider protection insurance products that would support them in the event of redundancy.
The study also revealed that 92% of people believed the current economic environment was worse than it was a year ago and 82% expected the economic climate to worsen over the coming year.
Nick Kirwan, head of health and protection at the ABI, said it was clear the industry needed to undertake more work to get the message across that protection insurance gives individuals and families peace of mind.
