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Protection campaign ponders portal idea

The Consumer Protection Insurance Engagement Campaign is considering
launching an independent online protection portal to boost consumer
understanding of the products.

The CPIEC steering group, made up of Lifesearch managing director Tom Baigrie, Legal & General marketing and channel development director Alan Ferguson and three others, has considered developing a protection portal to give consumers easy access to protection products.

Group chairman Baigrie says: “The group has considered options for developing a fulfilment mechanism which would seek to provide consumers with a readily accessible independent online protection portal.

“Given the size of the protection gap the need to build consumer engagement is the number one strategic priority for the protection industry.”

Income Protection Task Force co-chairman Clive Waller says this could be a start, but only that.

He says: “There are lots of portals and consumers cannot distinguish one from another. You have to make them aware of need and interested in doing something before a portal will help. But I am sure Tom will drive his team
to do something to make that happen.”

Bright Grey head of product development and technical support Ian Smart says it is early days for the group, but adds “this could be a good idea”.

The group has also discussed the need for robust governance structures, options for its legal entity and who will take over the operational management of the campaign group.

Consultancy firm Cicero Consulting is expected to present a series of recommendations to CPIEC next month.

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