The protection industry has made progress in communicating with consumers but more needs to be done and now maybe the time for product innovation, Swiss Re has said.
While a survey conducted by the reinsurer revealed there is still much uncertainty in the market although opinions are becoming more positive about future prospects. Reflecting on results from the review of market representatives for its annual Term and Health Watch report, Ron Wheatcroft, technical manager for Swiss Re in the UK and Ireland, discussed some of the challenges and opportunities facing the sector. "Despite a challenging environment, new retail protection sales figures held up well in 2010," he said. "However, 2011 will be another difficult year but reductions in welfa...
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