By Steve Devine, chairman of Protect, an association of companies and individuals working in the UK protection markets
While my professional life is dominated by PR and protection, I currently have a personal interest in mortgages and house purchases, as one of my daughter’s, Gemma, is looking to buy her first house.
This means we will be experiencing first-hand the customer journey through the mortgage and house buying process. It's over 21 years since I moved house, so it will be interesting to see if things have improved. It will also be good to help Gemma, although I accept that my main role will be to provide the deposit.
The first of the houses that Gemma was really interested in has just been sold, so it’s not been a great start.
Back to my day job, as chairman of the Protect Association, I am pleased to report that we have Peter Le Beau, chairman of the Income Protection Task Force, coming to speak at our meeting in London on 17 January 2014.
Peter will be presenting on the IPTF campaign: The Family Support Initiative, a high profile campaign, which is looking to boost the awareness of employed people of the likely consequences of becoming too ill to work.
Working with leading charities, insurers and re-insurers, the campaign will look to provide support via charitable donations to a number of families where the breadwinner has suffered an accident or serious illness.
With TV production companies showing an interest in the campaign this could be boost the protection market needs to lift it from the doldrums. In recent years sales have remained at disappointingly low levels at 110,000 to 120,000 policies a year. Only three million people in the UK have any sort of disability cover.
If you are interested in attending the Protect meeting to listen to Peter and five other speakers presenting on separate subjects, including ex CML director general Michael Coogan, please let me know and I will send you all the details.
The third and final subject I want to cover is the short term income protection insurance (STIP) market. I am working with Ben Heffer of Defaqto to try and establish some market statistics on the sales of these products.
Defaqto has very kindly offered to collate (free of charge) the numbers from providers and distributors. I am convinced there is a sizable market out there but I suspect probably because of the PPI debacle and its toxic effects which no one wants to publish sales, or indeed, any claims figures.
That is a great shame because I think there is a place for STIP type products. They need to secure the trust of the public too, just as the longer term protection insurance products are trying to do with the Family Support Initiative.
Hi folks, it’s good to be back on the blogger’s list at Introducer Today. My thanks to the editor,
Harvey Jones for the opportunity.
Whilst in my professional life it’s mostly PR and protection insurance which dominate proceedings.
I currently have a personal interest in mortgages and House purchase, as one of my daughter’s, Gemma, is looking to move from renting an apartment to buying a house.
We will be experiencing first- hand the customer journey through the mortgage and house buying process. Its over 21 years since I moved house, so it will be interesting to see if things have improved and good to help Gemma. Although I fully realise that my main role will be to provide the deposit.
I will feed any notable incidents or encounters into future blog posts. The first of the houses that Gemma viewed and was really interested in has just been sold. So it’s not been a great start.
Back to my day job, as Chairman of the Protect Association, I am pleased to report that we have
Peter Le Beau, chairman of the Income Protection Task Force coming to speak at our January 17th Protect meeting in London. Peter will be presenting on the IPTF campaign – The Family Support Initiative, a high profile campaign, which is looking to boost the awareness of employed people of the likely consequences of becoming too ill to work.
Working with leading Charities, Insurers and Re-insurers will look to provide support via charitable donations to a number of families where the breadwinner has suffered an accident or serious illness.
With TV production companies showing an interest in the campaign this could be boost that the Protection Insurance market needs to lift it from the doldrums. In recent years sales have remained at disappointingly low levels at 110-120k policies a year. Only 3 million people in the UK have any sort of disability cover.
If any of you are interested in attending the Protect meeting on 17th January to listen to Peter and
other 5 other speakers presenting on separate subjects, including Michael Coogan (ex CML director general) please do let me know and I will send you all the details.
The third and final subject I want to cover is the short term income protection insurance (STIP) market. I am working with Ben Heffer of Defaqto to try and establish some market statistics on the sales of these products. Defaqto have very kindly offered to collate (free of charge) the numbers from providers and distributors. I am convinced that there is a sizable market out there but I suspect
probably because of the PPI debacle and its toxic effects which no one wants to publish sales, or indeed, any claims figures. Which is, a great shame because I think there is a place for STIP type products. They need to secure the trust of the public too, just as the longer term protection insurance products are trying to do with the Family Support Initiative.
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