Skandia's withdrawal from the Association of British Insurers (ABI) will not affect the way we view ...
Skandia's withdrawal from the Association of British Insurers (ABI) will not affect the way we view and interact with advisers and our customers. We believe passionately in the importance of quality advice to guide and support customers' financial decisions.
Skandia is known for its commitment to service. We will maintain the high standards that advisers and customers expect and will abide by non-disclosure agreements as set out by the ABI. Skandia will continue to develop the critical illness (CI) product in accordance with current and future ABI definitions and where we can, exceed them.
A provider doesn't need to be affiliated with the ABI to conduct itself in a way that protects the interests of both the adviser and the client and is still able to offer quality products that meet client need without a membership card. We're confident that advisers will continue to consider all aspects of a product when making a recommendation and where suitable will recommend a best-fit policy, despite the provider's membership with the ABI. In addition there are other 'mainstream' providers of CI cover who are not members of the ABI and this appears to have no discernable effect on sales.
Our decision to leave the ABI simply shows our commitment to advisers and this will help ensure that customers receive the advice that best meets their needs.
Ian Brown is head of protection marketing at Skandia.
