Individual product performance in the protection market is a turbulent and confusing picture, with erratic premium behavior across the board.
While term (and specifically non-mortgage term) products are still the dominant force with over 70% of protection share, there has been downward pressure on every product line in recent times, reflecting the uncertain, fragile national macroeconomic picture. Indeed, in the absence of major market-driven change it is the macro-environment that dictates performance.
Radiant insights, inc “UK Protection Insurance: Critical Illness and Income Protection” examines the protection market, focusing on two products: critical illness and income protection. It examines how the market has performed and explores the key drivers shaping the market going forward. It also highlights the impact of RDR and provides a forecast for the next five years.
– Although the Retail Distribution Review (RDR) was aimed at the retail investment market, and commission-based business is still permitted for protection products, the net effect has been that advisors offering a range of services have had to adapt their models. In addition to RDR, a new emphasis on conduct has been ushered in with the Financial Conduct Authority, and key protagonists in the financial services markets have been overwhelmed with the volume of regulatory change in the last few years.
– Individual product performance in the protection market is a turbulent and confusing picture, with erratic premium behavior across the board. While term (and specifically non-mortgage term) products are still the dominant force with over 70% of protection share, there has been downward pressure on every product line in recent times, reflecting the uncertain, fragile national macroeconomic picture.
Download full research Report @ http://www.radiantinsights.com/research/uk-protection-insurance-critical-illness-and-income-protection
Reasons To Buy
– Review your strategy against both existing and new challenges regarding the critical illness and income protection markets.
– See where the opportunities are for digital disruption and how insurers need to respond.
Request a Free Sample Copy of this Report @ http://www.radiantinsights.com/research/uk-protection-insurance-critical-illness-and-income-protection/request-sample
Table of Content
Protection has reached a new normal and needs to be reinvigorated
Critical success factors
The protection market has seen major changes
Protection is sold not bought, making advisors gatekeepers to the market
Contract levels have reduced due to the RDR
Banks have retrenched to core business and reduced their advisory capabilities
Protection products are exhibiting varying performance levels
IP and CII account for a mere 7.2% of the total protection market
Prices rises have sustained the market
The IP sector has struggled to recover its 2012 market position
The product offers significant benefits, but awareness and engagement is low
Browse all Report of this category @ http://www.radiantinsights.com/catalog/financial-services
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email : email@example.com
visit our website : http://www.radiantinsights.com/
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
Country: United States