AMI Protection Viewpoint 2024 is here…
The AMI Viewpoint is research focussing on key topics impacting the mortgage and protection industry. With the support from Legal & General & Royal London, this research wouldn’t be made possible.
AMI’s Protection Viewpoint 2024, Making Protection Personal has officially launched – if you missed the live event you can watch the recording here.
You can find out more about AMI’s Protection Viewpoint, read previous reports, re-watch the live launch events and find firm case studies, Consumer community group (qualitative) videos and Industry case study videos, all in our Protection Viewpoint Archive.
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.
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
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
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
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.
Get in touch with us today.
If you would like further information about TMA Protection, please click the purple button and our Key Accounts Team will be in touch.
