Health insurance intermediaries are optimistic about the future but feel that the intermediary market will reduce by around 25% in the short term. This was the general feeling at a recent focus group, held in London, as part of work going into the launch of a new survey on the issues affecting intermediaries in the healthcare market.
The Protection Review is the brainchild of Andy Couchman, proprietor of consultancy firm Bank House Communications, and Peter Le Beau, managing director of Le Beau Visage, a financial services marketing consultancy.
By far the biggest concern was the range and complexity of regulation. There was also concern about PI cover and the FSA’s definition of mis-selling in a protection context and attendees predicted major compliance issues in selling critical illness cover online.
Attendees included representatives from Health Care Plus, Company Benefits, Brooks Macdonald and Swiss Re Life & Health. The Protection Review will be on sale from 22 May.