Protection sector undervaluing additional services - Protection Review

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The protection industry doesn't value additional services, focusing on conditions, rates and premiums, whereas customers need more than just money, the Protection Review conference has heard.

Christine Husbands, managing director of care advisory service Red Arc, said, "Insurers should be doing much more to support their policyholders. And then those that do should really shout about it.

"Take major aggregator sites, there is little or no mention of additional services, nor does defaqto give any credit in its star rating.

"Not surprisingly, most IFAs major on the financial and administrative aspects only, why wouldn't they if this is what the industry promotes?

"But the evidence is that customers do value additional services. In our patient surveys for the last two years, 92% have said that their experience of our service had enhanced their view of the sponsoring insurer - pretty overwhelming evidence."

"However, even when these additional services are made available policyholders generally appear not to be aware of them and in turn insurers are not getting the credit they deserve."
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