AXA has entered the market with a menu-based protection solution that offers buildings and contents cover. Is this type of proposition welcomed in the market and are other providers likely to follow suit?
Market views Mike Williams, Watson Wyatt The inclusion of household insurance in AXA's protection menu is an innovative and logical step. In 2003, 52% of term assurance, 55% of critical illness (CI) and 60% of income protection (IP) policies were sold in conjunction with a mortgage. This considered, the logic is clear - why not add another relevant insurance as part of the package - and what could be more relevant than household insurance alongside a mortgage sale? The other significant step forward is the crossing of the life/non-life divide. Too often this 'technical' distinction, ...
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