Everything we covered in our latest forums – 5 things you should read
Our last two forums have produced lively debate and record numbers of attendees. Whether we were discussing the cost of living, Consumer Duty or Annual statements advisers were keen to share their thoughts on how the industry can improve and insurers keen to share what they are doing to better support advisers. In this insight we take a look at all the transcripts from the past three forums.
How is the cost of living impacting adviser businesses?
This Forum provided a platform for professionals to share their views and experiences regarding the increasingly challenging economic landscape. As the cost of living continued to rise, advisers explored the ways in which their clients are being affected and how they are navigating the complex terrain of financial hardship. The following are excerpts from the insightful discussions that took place during the event, shedding light on the strategies employed by advisers to support their clients during these difficult times.
What are insurers doing to support clients affected by the cost of living?
As the cost of living continued to soar and the global economy grappled with various challenges, the protection industry is not immune. Insurers have been closely observing the consequences of the cost-of-living crisis on their sector and are now shedding light on the implications for the industry as we move into the summer and beyond. In this playback of our May Forum, leading insurers shared their perspectives on the current economic woes and discuss the measures they are taking to support advisers and their clients during these turbulent times.
How are advisers preparing for Consumer Duty?
Protection Guru hosted an enlightening forum on Consumer Duty, delving into the current state of the protection market and shedding light on the challenges faced by various industry stakeholders. During the session, representatives from an industry body, a support group, a network, and an insurer shared their perspectives on the readiness of the market for Consumer Duty. The forum provided a platform for these key players to discuss the areas where individuals are encountering difficulties and to outline the measures they have taken thus far to address these challenges. This article encapsulates the insightful conversations and highlights the collective efforts being made to fulfill the obligations of Consumer Duty.
Are insurers doing enough to provide annual statements to clients?
This forum brought together industry experts and professionals to delve into the crucial role of annual statements. As advisers exchanged ideas and shared insights, the discourse illuminated the pressing need for transparency, accountability, and enhanced communication between insurers, advisers and policyholders. In this playback of the thought-provoking discussions, we explore the arguments, perspectives, and solutions proposed by these knowledgeable individuals, shedding light on why annual statements and further action from insurers are imperative in today’s protection landscape.
What more do we need to do to keep clients aware of the cover and benefits they have access to?
In the second session focusing on annual statements advisers speak about the huge risk of lapses and how annual statements can help reduce this risk and we hear from Aviva on how they are keeping their DigiCare+ customers informed.