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Protection Viewpoint 2024: Making Protection Personal

It’s here!

AMI’s Protection Viewpoint 2024: Making Protection Personal has officially launched – if you missed the live launch event this morning, you can watch it below.

A big thank you to everyone who gave up their time this year to complete the adviser survey. You can read the report in full below, review our four-point action plan and watch consumer qualitative videos, with more great content to come in the near future based on the outcomes of this year’s report.

Did you miss the live launch? You can re-watch it below

The Four-Point Action Plan

Based on the results of this year’s survey, we have developed a four-point action plan. We believe this will help provide advisers with the tools necessary to better engage with their customers when discussing protection, and ultimately to grow their business. Click on the images to find out more.

Build in a human element upfront

Build in a human element upfront

Advisers and insurers need to take time to understand the personal situations and circumstances of each client, before explaining what products are available to them. Relevance and being heard is key.

Make products easy and accessible

Make products easy and accessible

Most people don’t feel financial advice or protection insurance is accessible to them and they need an expert to explain it to them. Advisers and insurers need to make it easy for them to take out protection insurance, explaining it to them in layman’s terms avoiding jargon and sales speak, which quickly creates mistrust and immediately disengages people.

Allow clients to feel in control

Allow clients to feel in control

When it comes to deciding on protection insurance, people want to have a sense of personal ownership over it. Therefore, we would recommend mentioning it as an option early on and giving them time to go away and think about it as opposed to putting them under pressure to decide in the moment. People value patience, calmness and time to consider what’s right for them.

Focus on the positives

Focus on the positives

A significant number of people mistrust advisers and insurers. They need extra reassurance on their integrity and intentions that they have the customers best interests at heart. Highlighting how the products can provide help in the worst situations and sharing real life examples can help reassure clients that they have value.

Consumer Qualitative Videos

What does bad service look like? What NOT to do.

Consumers tell us what bad service looks like when it comes to taking out protection. 

What does good service look like? Getting it right.

Consumers tell us what they expect from the ideal service experience when taking out protection.

Whilst we are getting together more content based on this year’s report, why not take a look at last year’s Protection Viewpoint: The Perception Gap? Watch the launch, read the report and access great resources designed to help advisers engage with consumers and improve their business.