AMI's Penn: Lessons from the travel industry on value of protection advice

The word ‘value' is everywhere you look: the Financial Conduct Authority (FCA) is reviewing whether value provided by firms is fair under Consumer Duty; consumers are more conscious of it due to cost-of-living pressures and we dedicated a whole segment of our 2023 Protection Viewpoint report to the topic. Defining the value provided to consumers should be high on firms' agendas and not just from a regulatory perspective. AMI's recent report The Perception Gap found around one in five consumers (22%) are unable to recognise any benefits of using a mortgage adviser for protection advice.  ...