Advisers must take responsibility for improving protection sales and encouraging innovation in the market, according to speakers at IFAonline.tv's latest forum - the Great Protection Debate .
Richard Verdin, sales and marketing director at Direct Life & Pensions, says there has been a distinct lack of innovation around the advice process so the industry priorities should be how products can be presented to consumers and in what priority order. More specifically, he states: “We must talk about solutions, rather than products. For example, providing consumers with protection or income cover in the event of unemployment. By presenting products as solutions to customers, they understand it well and start to select and prioritise around their own requirements.” Verdin believes th...
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