Insurers encouraged to create policy that 'grows with the client'

"We do not have products that adapt to people"

clock • 2 min read

Insurers have been encouraged to create a policy that “grows with their client”, according to a panel at the Protection Review Conference.

Former life insurer MD Iain Clark told delegates yesterday (6 December) as part of a panel discussion entitled How many insurers is enough that insurers must consider how to build a model that grows with the business rather than giving clients a product "based on who they currently are". "Insurers need to ask if their clients have anything wrong with them since they last met," Clark said. "The problem we have in the protection industry is that we are not asking those questions." He added: "We do not have products that adapt to people, we just have products that are there for people...

To continue reading this article...

Join Cover

  • 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 Individual Protection

Three new members for amii

Three new members for amii

Switch Health, PSG, and Healthwell added

Cameron Roberts
clock 20 February 2024 • 1 min read
Financial resilience is slowly improving for adults: LV=

Financial resilience is slowly improving for adults: LV=

59% of adults described their situation as comfortable

Jaskeet Briah
clock 16 February 2024 • 2 min read
Only 5% of people would speak to an adviser about costs of later-life care

Only 5% of people would speak to an adviser about costs of later-life care

18-34 year-olds were 50% more likely to want cover

Jaskeet Briah
clock 15 February 2024 • 2 min read