Protection providers have forgotten consumers in making products too complicated, according to LV=.
It also believes the recent spate of mergers, acquisitions and departures from the sector does not necessarily mean there is a problem within the market. Mark Jones, head of protection at LV=, was speaking as the provider announced a 37% growth in protection new business over the first six months of 2010. Jones is keen to simplify products, including income protection inparticular, in a bid to attract a wider audience. "Its one of those products I think you can simplify without dumbing down certain areas," he says. "Sometimes we've added something because it makes it easier for ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes