After missing last year's date, perhaps 2003 will prove brighter
Bright Grey, the market's newest protection provider, has still not released its long-awaited product range, despite indicating an early year launch.
The provider missed its initial launch date at the end of summer 2002, however it is claiming to be on track for a first quarter launch.
Roger Edwards, products director at Bright Grey, said: 'We are still saying early this year, in the first quarter. All our literature is printed and our systems are more or less there ' we are just crashing through the final testing, ensuring systems are robust.'
Refusing to be drawn on a definite date, he added: 'From launch our proposition is going to be around excellent service to IFAs and we cannot afford to get that promise wrong, so we will only launch when systems are capable.'
Bright Grey claims feedback from advisers suggests if the service is right and the underwriting is streamlined, it will be reason enough to consider giving business to the provider. This view is endorsed by Kevin Carr, senior technical adviser at LifeSearch.
He said: 'You would not pay twice the price for good service, but a good service, product and claims history will get you recommended. If they get decent advice, clients will generally go with the better, rather than cheapest, product.'
According to Bright Grey, the initial launch will be of a 'fairly comprehensive' range of protection products.
However, the provider has an ongoing programme of development, in spite of 'turmoil' in the markets at the moment, with rates rising, definitions changing and concerns over guarantees.
Edwards said: 'The range will be comprehensive, but we are looking to build on that.'
Due to adviser feedback, the company has also been working on increasing the appeal of protection products for the general public.
