It’s the season to be jolly, but are we feeling jolly about the protection market? While that might be taking it a step too far, I’m definitely an optimist when it comes to protection, writes Emma Thomson, head of protection development at Sesame Bankhall Group.
Despite its challenges and frustrations, 2023 offered opportunities and reasons to be positive. First and foremost was the implementation of Consumer Duty. It's too soon to assess the full impact but evidence suggests it has already led to an increase in protection activity which will benefit consumers, with 40% of advisers reporting they had increased their protection conversations according to AMI's recent Viewpoint Research. In addition, many firms have established referral arrangements to ensure clients get the protection advice they need. As a result of Consumer Duty, more advisers ...
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