The future success of the industry could depend on the introduction of electronic GP reports, accord...
The future success of the industry could depend on the introduction of electronic GP reports, according to Mark Jones, protection products and actuarial manager at Friends Provident.
Speaking in a breakout session at the COVER Forum last month, he said the introduction could save valuable time, resources and would be cheaper.
Jones looked at the issue of the market's perception by consumers saying that the industry did want to deliver on the fundamental promise a policy is sold on. He said that, contrary to consumers' perception, the protection industry looks for ways to pay out, not to avoid doing so. However, there is mutual distrust that needs to be tackled, he said, adding: "The majority of consumers actually want to fully disclose, which is something that is often overlooked."
He said Friends Provident had a good relationship with consumers but it drew the line on deliberately misleading disclosures as "this was not in the best interests of the market". In other situations he said that it would always aim to give consumers the benefit of the doubt.
