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Who topped the Protection Guru rolls of honour for 2020

Who topped the Protection Guru rolls of honour for 2020

This really has been an unbelievable year, just when it looked like it could not get worse, the Prime Minister, necessarily it appears, has effectively cancelled Christmas while we are all disappointed, I see much to be positive about in 2021.

One of the things that has really struck me about this year has been the strength of the protection family and how so many people have worked together to help the public in difficult times. We have all had to adapt an in my experience protection advisers have done so especially well. It has been great to virtually meet so many new adviser friends through our Forums and your feedback about Protection Guru.

It has been a tough tie for insurers too and it has been noticeable how much advisers appreciate this hard work. During the year Protection Guru has produced over 200 details studies to designed to provide the protection adviser community with the No 1 technical site in the industry. To be clear we are not a media site, which is why for example we did not write about for example LV= being purchased by Bain Capital last week or Aviva hiring a new Life Insurance CEO for UK and Ireland. Conversely, we did write about the new features and changes LV= made throughout the year to help advisers and their clients impacted by COVID-19 and had the detail of what Aviva Digicare+ would offer individual protection customers before any other analysis and in more detail.  

Protection Guru will always write about the detail of products and services that will impact how advisers give advice and provide the information. We thought it might be helpful to provide a summary of all the different analysis we have produced in one place to make it easier for advisers to find individual studies, this is below.

As it is the end of the year, I want to look at all the major announcements over the last 12 months and highlight the ones I think have been most significant from each of the leading insurers in the market. Let me begin with AIG’s move to impact based cover is a really significant and shows how the whole market has embraced moving from condition counting to something far more closely aligned with customer needs. Ironically while it is a simplification, I do think it reinforces why if you are really going to have detailed analysis of medical condition it must be conducted by people with formal medical training and the proposer qualifications both in medicine and epidemiology.

Another key trend in the market this year was for Insurers to provide more than just catastrophe protection so that the benefits are delivered year in year out and the client becomes actively engaged with the contract. A great example of this is Aviva’s DigiCare+ offering for individual market

It was great to see Guardian’s performance in our product ratings where they achieved gold across their full product range. My highlight of Legal & General’s year was the launch of their new Income Protection products offering both low-cost options and shorter deferred periods for those who need them. Of course, we would all rather clients had the most comprehensive of Income Protection plans but it is important to have at least some cover so this is excellent for those on a tight budget.

I was equally delighted to see the launch of LV=’s new Family Income Benefit plans this is such an effective way to protect young families and it is very much an under utilised gem in the protection field so well done to LV= for filling that gap. Royal London’ move to change encourage the adoption of a practical alternative to trusts is also really good news for advisers and clients alike. I know Guardian will say they have offered something similar from launch, but the Royal London move puts positive pressure on other insurers to change.  

I have already mentioned Critical Illness simplification but it is important to acknowledge the great work done by Scottish Widows in this area not just with a simple contract but also great graphics. The whole market needs to do more to help consumers understand how affordable Income protection is and The Exeter did some exceptional work this year producing their Income Protection toolkit. If you have not examined this yet do please find some time to have a look

I think the biggest stand out moment of the year for me was actually Vitality’s substantial simplification across their product range. Although I think there are still some more things they can do this was a huge leap forward and as I said ta the time it is time to look again at Vitality if you have not already.

Finally, as the overall league table that follows shows Zurich have been called out for more distinctions on Protection Guru this year than any other company. Just about every insurer talks about wanting to be easiest to deal with but when it comes to objective measurement of such statement our Operational Ratings stand alone as a comprehensive analysis of how insurers use technology to provide adviser support. Zurich also topped these results too.  

So the above is my summary of the highlight from the insurers I think really matter in the market but let’s have a look at the overall output from Protection Guru. The league table below shows how many articles each insurer has featured in out insight studies. This includes the number of times they have had features highlighted, the number of times they have featured in analysis and the honour positions are decided by the number of times we have callee them highlighted each company as a market leader in different areas.

Protection Guru Overall Roll of Honour 2020

 
Highlighted in insight
Number of times appeared in graphics
Highlighted as Strong
Zurich
65
169
48
LV=
81
190
47
Aviva
66
180
45
AIG
64
189
39
Royal London
61
183
38
Legal & General
64
180
35
Vitality
65
179
35
Guardian
40
116
26
Scottish Widows
35
124
15
AEGON
28
140
12
British Friendly
24
49
11
Canada Life
16
62
10
Cirencester 
23
52
10
The Exeter
22
73
10
Holloway Friendly
16
45
5
HSBC
6
23
2

The underlying tables break our rolls of honour down to look at each time a company has been covered in a study looking at a particular area. Such studies may also look at other areas. Underneath each of these summaries you will find links to each on the insight studies on the relevant product area.

Protection Guru Income Protection Roll of Honour 2020

 
Highlighted in insight
Number of times appeared in graphics
Highlighted as Strong
Zurich
22
60
19
AIG
26
68
16
LV=
24
62
16
Legal & General
18
63
15
Aviva
19
54
13
Royal London
21
67
13
British Friendly
19
44
10
Cirencester Friendly
20
47
9
Vitality
20
60
9
Guardian
11
33
6
The Exeter
14
55
6
AEGON
11
55
4
Holloway Friendly
12
40
4

Income Protection Articles 2020

Topic
Article
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Back to work
Back to work
Back to work
Carers Benefit
Carers Benefit
Claims
Claims
Claims
Claims
Claims
Claims
Consumer attitude
Deferred periods
Deferred periods
Deferred periods
Fracture Cover
GIO
GIO
GIO
GIO
Hospitalisation benefit
Housepersons Cover
Medical profession
Minimum / Maximum
Minimum / Maximum
Minimum Benefit Guarantee
Minimum Benefit Guarantee
Most popular features
Premium holidays
Ratings
Return to work
Return to work
Short Term 
State Benefits
Terminal Illness
Terminal Illness
Trauma Benefit
Trauma Benefit

Protection Guru Life Insurance Roll of Honour 2020

 

 
Highlighted in insight
Number of times appeared in graphics
Highlighted as Strong
Guardian
17
56
14
Legal & General
18
60
11
Royal London
15
61
11
Aviva
13
52
10
Vitality
18
56
9
Scottish Widows
13
57
8
AIG
16
62
8
LV=
17
56
8
Zurich
9
42
7
Canada Life
9
32
6
The Exeter
7
29
4
AEGON
15
56
2
HSBC
4
4
2

Life Insurance Articles 2020

Topic
Article
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Claims
Claims
Claims
Claims
Claims
Underwriting
FIB
FIB
Fracture Cover
GIO
GIO
GIO
Joint Life Separation
Joint Life Separation
Menu Plans
Minimum / Maximum
Mortgage Interest Rates
Product Feature
Product Feature
Product Feature
Ratings
Relevant Life
Terminal Illness
Underwriting
Underwriting
Underwriting
Waiver of Premium

Protection Guru Critical Illness Roll of Honour 2020

 
Highlighted in insight
Number of times appeared in graphics
Highlighted as Strong
LV=
23
72
17
Aviva
20
66
13
Vitality
22
69
12
Royal London
19
66
12
Guardian
15
61
12
Zurich
16
58
11
Legal & General
17
63
10
AIG
18
69
9
Canada Life
8
36
6
Scottish Widows
14
56
5
AEGON
7
53
2
HSBC
2
16
2

Critical Illness Articles 2020

Topic
Article
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Added Value Benefits
Benchmarking
Breast Cancer
Child Hospitalisation Benefit
Childrens CI
Childrens CI
Childrens CI
Childrens CI
Childrens CI
Claims
Claims
Claims
Claims
Claims
Claims
Claims
Critical Illness Conditions
Critical Illness Conditions
Critical Illness Conditions
Critical Illness Conditions
Critical Illness Conditions
Critical Illness Conditions
Critical Illness Conditions
Diabetes
Everything you need to know
Fracture Cover
Free Cover
GIO
GIO
Menu Plan
Minimum / Maximum
Minimum / Maximum
Product Feature
Product Feature
Product Feature
Product Feature
Product Feature
Product Feature
Product feature
Ratings

Provider specific updates

AEGON announce first critical illness refresh in 4 years
AEGON first to announce changes after FCA guidance
AEGON make significant changes to their income protection plan
AIG make welcome move towards impact based cover
AIG critical illness showcase page
Going the extra mile – Aviva’s new claims initiatives
Aviva makes moves to simplify critical illness wordings
Aviva reinstate medical requests and commit £15m to health charities
Aviva add renter specific options to income protection
Aviva’s showcase page
What to expect from Aviva’s Digicare for individual policyholders
Aviva launch exceptional free digital health service for group income protection critical illness
Cirencester Friendly add access to GPs – how do they compare
Legal & General increase non medical underwriting limits for income protection
COVID & NOVAD – Legal & General embrace new approach to trusts
Legal & General showcase page
Legal & General launches dedicated tools to help advisers offer income protection products to renters
Legal & General add new plans to income protection proposition
LV= reintroduce 1-day 1-week deferred periods
LV= critical illness showcase page
LV= income protection showcase page
LV= introduce big critical illness changes
Royal London showcase page
Royal London enhance critical illness proposition
Royal London launch an alternative to trusts
How Royal London scooped golds across the board
Royal London business protection showcase page
Simple, Clear & Consice – Have Scottish Widows set the bar?
The Exeter deliver excellent income protection toolkit
Getting into the detail of vitalitys innovative benefit reduction
Vitality simplification getting into the detail
Vitalitylife showcase page
Are Zurich leading the way on financially vulnerable customers
Zurich the latest insurer to extend support for financially vulnerable
Zurich critical illness showcase page
Zurich income protection showcase page
Zurich showcase page
How Zurich, The Exeter & Scotish Widows excelled in our operational ratings
How AIG, Aviva & Guardian impressed in our operational ratings

In the New Year Protection Guru will be undergoing a major overhaul to make it easier to find information on specific subjects and there is also another very special services we will be launching to help advisers, so watch out for that in the New Year

At the end of the year, I must pay tribute to the great team I have the privilege of leading Adam Higgs, Steve Berry, Samamtha Smith Emma Iszowitz and Quinton Clasquin.

I can’t finish without also paying tribute to the team that work on our sister sites Benefits Guru and AdviserSoftware.com who do a huge amount to keep Financial Technology Research Centre running.

Jason Green has done an incredible job bring in Benefits Guru to market in 2020 and Adam Flowers has created a wealth of exceptional content which you will see early in the New Year to help firms find the technology that can best help advisers run their businesses.

Happy holidays everyone stay safe, 2021 must be better.

About The Author

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Ian McKenna is the founder of Protection Guru. A 40 year veteran of the financial advice and related technology markets. Having worked for insurance and financial advice firms in 1995 he set up Financial Technology Research Centre, which publishes Protection Guru over a decade before “fin tech“ was recognised as an industry term. He believes passionately that far more people can be protected by life insurance and related contracts if we can demystify these and make objective comparative information on policies more accessible.

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