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‘ABI should lead protection drive’

Lifesearch has called on the Association of British Insurers to lead an industry ad campaign to raise consumer awareness of the protection gap and improve perception of the sector.

Managing director Tom Baigrie says the industry has to tackle the lack of public demand for protection but says distributors do not have the financial resources for a campaign.

He says many ABI members, particularly the big insurers, do have the means to finance such a project. Baigrie believes the ABI is in the perfect position to co-ordinate efforts.

Baigrie says: “We and our fellow distributors would love to be in a position to spend the millions of pounds needed for a long-term effective national, generic advertising campaign which would convince customers to buy protection, but we cannot.

“The ABI members working together could do this though. Have they enough passion for protection, I wonder?”

An ABI spokesman says: “There has been an informal enquiry from Lifesearch which we have not yet responded to. We will take a look at any formal proposal put forward by the industry.”

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