Four in five consumers want transparency on restricted protection product searches

Transparency important for consumers

clock • 2 min read

The vast majority of consumers want to know if the search carried out by advisers to find their protection product is restricted to only certain providers, according to new research.

In a poll of 2,000 people carried out by Opinium last week for Protection Review, the majority (88%) said it is important to be explicitly told if a comparison site, adviser or bank was not searching the whole market. Almost half (49%) said they feel it is very important to have this information, while just 12% thought it was not important to know this. The findings come amid heated discussions in the protection sector about the use of restricted panels, and whether the consumer is being made aware of these restrictions. Particular concern about the practice has been raised followi...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

ABI appoints director of regulation

ABI appoints director of regulation

David Otudeko takes the role

Jaskeet Briah
clock 29 April 2025 • 2 min read
FCA proposes reduction of data reporting for firms

FCA proposes reduction of data reporting for firms

Supports regulator’s aim to ‘reduce burden’

Isabel Baxter
clock 17 April 2025 • 2 min read
Christine Elliott departs as PFS chair

Christine Elliott departs as PFS chair

Carla Brown takes the role

Isabel Baxter
clock 15 April 2025 • 2 min read