Don't grab market share - grow the market

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The size of a market is transformed by the arrival of a product that meets consumer demand in that market, says Tom Baigrie.

For a market long fed up with providers who seek only to grab market share by reducing their risks and cutting their headline premiums, there is now another way to grow the market for protection sales. There is finally a joined up industry-to-consumer communications initiative; and that effort has successfully reached its pivotal point, on time and in good order. In September a campaign proposition, approved by the industry’s selected steering committee, will be placed before the leaders of each insurer and reinsurer. They will see an impressive understanding of the task and a properly c...

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