Consultancy firm Finance and Technology Research Centre has launched a protection forum to address operational issues in the protection market.
The forum has been set up in conjunction with Kevin Carr Consulting managing director Kevin Carr and is made up of 20 leading distributors, insurers, reinsurers and IFAs and will meet quarterly.
Adviser firms include Sesame, Lifesearch and Master Adviser. The insurers involved in the forum include, Fortis Life, Bupa Individual Protection, LV=, Friends Provident, Bright Grey, Scottish Provident, Pru Protect, Zurich and Aegon.
Reinsurers include Munich Re and Swiss Re. Other companies are to be added at a future date.
The forum is designed to tackle issues raised by distributors and has so far looked at a range of topics such as improving business retention systems, reducing paperwork across the industry and improving information security. Relevant issues could be raised with other trade bodies
FTRC director Ian McKenna says: “We have been running this format in the investment market for 10 years with much success, and with Kevin coming on board this was the ideal opportunity to launch Protection Forum.”
Highclere Financial Services partner Alan Lakey says: “I believe that it is always an excellent idea for providers and distributors to meet to discuss various issues.”
Swiss Re director for life and health products Jeff Cook says: “We see this newly created forum as ensuring collaboration between stakeholders throughout the value chain. If we are successful, this can only be helpful in increasing the penetration of our products into ociety.”