Major protection advice firms have come together to form the first group of its kind to lobby for change in the protection market and drive better consumer outcomes.
There are 10 founding members of the Protection Distributors Group, thought to be the only working group or industry body made up of purely protection advisers.
It aims to be a formal voice representing protection distribution. It will lobby insurers for better customer outcomes, pot forward positive suggestions for reform and seek to raise the profile of protection overall.
The group will also liaise with industry bodies where appropriate.
For the first year the group will be chaired by LifeSearch head of customer care Emma Thomson, with decisions made on a majority rule basis. No member fees will apply in the first year.
The 10 members of the group are: Assured Futures, Drewberry Insurance, Futureproof, Highclere Financial Services, LifeSearch, Lightblue, London & Country, Master Adviser, Roxburgh Financial Management and Vita.
Other protection advisers based in the UK are also welcome to apply to join the group.