Friends Provident believe the long-awaited Menu is attempting to achieve too much.
It believes the Menu is an improvement on the Defined Payment Scheme originally proposed by the FSA but thinks expectations are unreasonably high.
Friends Provident director of marketing Graham Harvey says: “Using the Menu as a tool to help address product and provider bias is a sensible approach. However, the Menu has limitations and its ability to get consumers to 'shop around' is one of them.
“We need to try and focus our efforts on improving consumer confidence in the industry and in getting consumers shopping. The Menu has a job to do but acting as a proxy for shopping around should be outside the job description.”