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The future of protection

IFAs advising on protection products are facing a critical time. Many industry commentators feel the market is about to grow substantially and the need to inform clients of the products and services available has never been more important.

At the Money Marketing Live show at Manchester&#39s G-Mex on 23 September, ABI critical-illness working party chairman Nick Kirwan will present new research findings into consumer attitudes to protection products.

Kirwan will focus on changing consumer attitudes to protecting themselves and their families and discuss the potential end of guaranteed premiums for critical-illness cover.

Further debate will highlight the effect that regulation will have on the protection market, particularly recent changes in the reinsurance market.

A further perspective on the changing protection market will be given by Friends Provident head of marketing Peter Hamilton, who will speak on how product providers and IFAs are using cutting-edge marketing ideas and techniques to differentiate themselves. Hamilton will explore how electronic underwriting is one example of how the protection market is evolving to provide benefits for the consumer, distributor and provider.

The Protection Strategy Live arena at Money Marketing Live has been set up to provide intermediaries with access to the very latest developments and thinking surrounding the protection market from leading industry experts. It will provide practitioners with critical insight to ensure the future prosperity of their business.

Bupa&#39s head of product development Wojciech Dochan will ask whether providers really do have customer insight in the protection market, and will discuss how the role of future product design is meeting and satisfying customer wants and needs.

The issue of income protection will also be examined. With only 11 per cent of the population currently benefiting from income protection insurance, Richard Worth of Cirencester Friendly will ask why clients fail to act on their need for IPI. Worth warns of the need to educate clients of the consequences of income loss in the event of an illness or accident.

Case study examples will also examine how technology in the protection industry can lead to increased sales and less paperwork. Paul Holland, managing director of Webline will identify the importance of ensuring all systems speak the same language in the intermediary office in order to cut down time spent on rekeying data.

To find out more about Protection Strategy Live at Money Marketing Live phone our 24 hour hotline on 0870 7779817 or visit our website at www.money marketinglive.co.uk.

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