Legal & General will look to increase its direct protection business to meet the challenges presented by the post-RDR distribution landscape.
The insurer says direct business grew 47% last year and now represents 6% of total individual protection volumes. It says regulatory and legislative change is creating opportunities in the housing and protection market with the potential for shifts in distribution and competition. In particular, it highlights the ECJ ruling with respect to gender discrimination, which will affect underwriting and pricing in individual protection. "We are responding through maintaining a tight control on costs, focusing on customer retention, and developing a sales and marketing strategy designed to...
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