Price isn't right

The selling of protection mainly on price has done the industry a disfavour, according to PruProtect. Kevin Carr, director of protection development at PruProtect, said in an interview with COVER: "The protection product price war has led to more work, longer application forms, more loadings on policies, more declined policies and, worst of all, fewer protection sales. All this so companies can fight over market share in a shrinking market. If we can grow the overall size of the market, we can all benefit." The provider is expected to announce a protection product enhancement later this...