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Scot Wids hires L&G RDR director to lead intermediary protection offering

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Scottish Widows has hired Legal & General RDR business implementation director Esther Dijsktra to spearhead its return to the intermediary protection sector.

Dijsktra has been appointed head of intermediary protections propositions and will prepare the lender for its re-entry into the sector, which will be towards the end of 2014.

She will be supported by former Aegon UK head of individual protection sales and distribution development Alun Beynon, who has been leading a study into the feasibility of launching Widows into the intermediary space since last year.

Scottish Widows director of annuities, protection and bancassurance Richard Jones says: “In 2012, Scottish Widows indicated it was considering entering the intermediary market, and Esther’s appointment is a significant milestone in developing our plans in this regard.

Our own research shows us that the take-up rate of protection products in the UK remains low, however by working closely with advisers and providing them with the right products and support they require, we aim to ensure even more families and businesses are adequately protecting themselves.”

Dijsktra says: “The intermediary protection market will remain the significant channel for reaching and serving customers’ protection needs and we are excited at the prospect of launching new products and providing greater choice to the adviser community.”

In February 2012, the provider revealed it was looking to re-enter the adviser annuity and protection markets following a strategic review of its strategy. It pulled out of the intermediary protection market in June 2008.

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. About time to well overdue more providers the greater the share to gobaround and force prices down

  2. Haven’t we already learned that lower prices don’t increase uptake?

    Hopefully, Scottish Widows will bring something innovative to the market, or at least a product aimed at quality rather than quantity.

    Fingers crossed they’ll also have a model which allows their plans to be distributed by those advisers with only mortgage and insurance authority, unlike Skandia

  3. Annoying Mouse 15th May 2013 at 10:53 am

    Just before gender directive – prices were as low as they have ever been but demand didnt increase. So a new provider pushing down prices even more is not going to grow the market on it’s own.

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