Protection firms' striving to gain "extra tick" perfection in product comparison tables has complicated life for advisers while still "ignoring" the real needs of consumers, warns protection expert.
Instead, the competitive search for the best product features has only added to the "complexity" and "confusion" as well as increased the amount of small prints. Roger Edwards, products director at Edinburgh-based protection firm Bright Grey, believes the protection industry has to start looking at the needs of consumers and advisers before developing new products. Outlining his belief in the Protection Review 2004 report, published last night, Edwards says the term 'customer focused' is something which the protection industry has so far been using but does not seem to have understood...
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