The challenge for protection brokers
Protection insurers in todays market should adapt their approach in order that products are ‘bought, rather than sold’ according to a report by Swiss Re.
The study found that members of the public looking to buy protection insurance want to feel empowered that they are making a formed decision, rather than just being sold to.
From the households that were surveyed, the majority were underinsured due to concerns about value for money, the complexity of products, complioated buying processes and a lack of trust.