Bright Grey and Scottish Provident propositions director Roger Edwards has warned that the consumer protection insurance engagement campaign could be a short-term fix to a long- term problem.
Edwards says the recommendations to be presented to the CPIEC next month by Cicero Consulting will probably inc-lude a media campaign costing each of the 22 members £1m-plus but he says it would be more cost-effective if everybody paid into an educational fund.
He says: “I am presupposing what Cicero might say here but while an ad campaign might lead to a few more people buying products, the only way you can really ingrain protection is to start young. Maybe long term it would be more cost-effective if everybody paid into some sort of educational fund because an ad campaign might have a short-term effect but six months down the line when the money runs out everybody will go back to being the way they were before.”
CPIEC chairman and Lifesearch managing director Tom Baigrie says: “The team are well aware of this issue and our plan is set to have long legs. We are close to issuing a positive update on our progress and will maintain radio silence until then.”