But while the group remains tight-lipped over what phase two will look like, with industry commentators suggesting a multi-million pound advertising push, it says much work has been done since its launch in February this year.
The group, made up of 22 insurers and reinsurers, was set up in February to fund a protection campaign to raise consumer awareness of their protection needs.
The campaign has been equally funded by all parties, and was the original idea of Lifesearch managing director Tom Baigrie.
Its initial first phase objective was to develop a campaign proposition and media strategy by understanding the barriers and triggers to consumer engagement.
Having drafted in the expertise of consultancy firms Cicero Consulting, Media Sense, DLKW and Zed Media, the CPIEC group then discussed options for the operational management of the campaign, its position as a legal entity and the need for robust governance structures.
It also considered launching an independent online protection portal to boost consumer understanding of the products.
So with phase one over, what next?
Cicero Consulting is expected to present a series of recommendations to CPIEC in September, and then to the public later in the month.
These sessions will include a detailed view of how such a campaign could be deployed as well as timelines, investment costs and payback periods.
However, some CPIEC members have aired concerns over the prospect of a media campaign , suggesting it is a short-term fix to a long-term issue.
So is a media campaign the most appropriate way to closing the £2.3trn protection gap?
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