The Association of Mortgage Intermediaries has launched a five-point protection action plan aimed at “propelling the industry forward, at a time when the UK consumer needs our advice and solutions more than ever”. The plan is part of the body’s third annual Viewpoint Report on protection within the mortgage
I checked with two reinsurers who confirmed IP sales are, in fact, 63 per cent higher than they were this time 10 years ago. If I put £10,000 in an Isa and was sitting on £16,300 a decade later, I wouldn’t say nothing had changed.
Sales isn’t the only way to measure a market, though, especially in protection. Two other important areas are claims and support services, both of which have improved significantly over the last decade, not to mention numerous product improvements by a range of insurers. And short-term IP, too, which has improved take up and didn’t really exist a decade ago in the advice sector.