UK protection markets may be advanced, but they do not lead in terms of customer innovations, that could be the South Africans. Andy Milburn explains
Our previous column considered the low income segment of South Africa’s protection market and the many lessons we can learn from it. There are many other valuable lessons that the UK and Irish protection markets can learn from South Africa. This is the first of two ‘nuts and bolts’ columns which summarise some of the other lessons we can learn from our friends and colleagues in the rainbow nation. Guaranteed Insurability Options (GIO’s) are a great example of how our industry creates names for product features that our customers do not immediately understand. The title is obviously based...
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