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Using the keypad

Using the keypad. The question & options will be shown We may give you thinking time A visible countdown will be shown During the countdown the red light will flash on the keypad When you hear the music press the number that corresponds to your answer. 10. You have. seconds.

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Using the keypad

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  1. Using the keypad • The question & options will be shown • We may give you thinking time • A visible countdown will be shown • During the countdown the red light will flash on the keypad • When you hear the music press the number that corresponds to your answer 10 You have seconds

  2. What sex are you? What sex are you? • Male • Female • Male • Female 72% 101 votes 28% 40 votes 10 You have seconds

  3. What age are you? What age are you? • Under 25 • 25 – 35 • 36 – 45 • 46 – 55 • 56 – 65 • 66 or older • Under 25 • 25 – 35 • 36 – 45 • 46 – 55 • 56 – 65 • 66 or older 5% 7 votes 22% 30 votes 30% 42 votes 28% 38 votes 13% 18 votes 2% 3 votes 10 You have seconds

  4. What type of company do you work for? What type of company do you work for? • Insurance company • IFA • Employee benefit consultant • Insurance broker • Mortgage broker • Network • Other • Insurance company • IFA • Employee benefit consultant • Insurance broker • Mortgage broker • Network • Other 18% 25 votes 36% 49 votes 1% 1 vote 11% 15 votes 12% 17 votes 5% 7 votes 17% 24 votes 10 You have seconds

  5. Under 10% 10-20% 21-30% 31-40% 41-50% 51-60% 61-70% 71-80% 81-90% 91-100% What proportion of your business is commission based? What proportion of your business is commission based? • Under 10% • 10-20% • 21-30% • 31-40% • 41-50% • 51-60% • 61-70% • 71-80% • 81-90% • 91-100% 16% 17 votes 8% 8 votes 1% 1 vote 2% 2 votes 3% 3 votes 9% 9 votes 4% 4 votes 17% 18 votes 2% 2 votes 38% 39 votes 10 You have seconds

  6. What proportion of your business is group? What proportion of your business is group? • 25% • 26% – 50% • 51% - 75% • 76% - 100% • 25% • 26% – 50% • 51% - 75% • 76% - 100% 84% 90 votes 3% 3 votes 5% 5 votes 8% 8 votes 10 You have seconds

  7. A General Election could be round the corner. What is your money on? A General Election could be round the corner. What is your money on? • Labour back in by a mile • Brown hangs on by a whisker • Hung Parliament • Tories creep back in • Cameron sweeps the board • Labour back in by a mile • Brown hangs on by a whisker • Hung Parliament • Tories creep back in • Cameron sweeps the board 26% 38 votes 48% 68 votes 6% 8 votes 19% 27 votes 1% 1 vote 10 You have seconds

  8. Sporting failures. On the whole, England have had an autumn of glorious failure on the world sporting stage. How do you view this? Sporting failures. On the whole, England have had an autumn of glorious failure on the world sporting stage. How do you view this? • Beyond caring • Crying in my beer • I’ve become a Scottish curling fan • I spy a glimmer of hope • Can’t see what all the fuss is about • We’re not as bad as we think • Beyond caring • Crying in my beer • I’ve become a Scottish curling fan • I spy a glimmer of hope • Can’t see what all the fuss is about • We’re not as bad as we think 12% 20 votes 5% 7 votes 7% 10 votes 13% 19 votes 22% 33 votes 41% 61 votes 10 You have seconds

  9. How does the future for intermediated/advice based health and protection business look to you? How does the future for intermediated/advice based health and protection business look to you? • Bleak • Squeezed but surviving • About the same • Improving • Booming • Bleak • Squeezed but surviving • About the same • Improving • Booming 6% 8 votes 29% 40 votes 30% 42 votes 29% 40 votes 6% 9 votes 10 You have seconds

  10. Which three of the five topics that came top of the web poll of delegates would you like the panel to tackle later this morning? (Please vote up to 3 options) Which three of the five topics that came top of the web poll of delegates would you like the panel to tackle later this morning? (Please vote up to 3 options) • Declined claims • Retail Distribution Review • Revolution or Evolution? • Raise awareness and grow the industry • Value Vs Price • Declined claims • Retail Distribution Review • Revolution or Evolution? • Raise awareness and grow the industry • Value Vs Price 228 171 124 190 128 10 You have seconds

  11. How aware are you of Cover’s Promoting Protection campaign? On a scale of 1-5 where 1 is Never heard of it, to 5 Fully aware How aware are you of Cover’s Promoting Protection campaign? On a scale of 1-5 where 1 is Never heard of it, to 5 Fully aware • Never heard of it • Fully aware • Never heard of it • Fully aware 50% 78 votes 24% 38 votes 9% 15 votes 9% 15 votes 8% 13 votes 10 You have seconds

  12. Do we need the Government to step in and highlight the need for protection? Do we need the Government to step in and highlight the need for protection? • Yes • No • Don’t know • Yes • No • Don’t know 55% 86 votes 41% 64 votes 4% 7 votes 10 You have seconds

  13. Do you think that all product providers and IFAs should adopt common messages and marketing themes? Do you think that all product providers and IFAs should adopt common messages and marketing themes? • Definitely • Nice idea but you won’t get agreement • The trade associations should run a separate campaign • Any generic campaign or campaign theme is a non-starter • Definitely • Nice idea but you won’t get agreement • The trade associations should run a separate campaign • Any generic campaign or campaign theme is a non-starter 23% 35 votes 43% 64 votes 17% 26 votes 17% 25 votes 10 You have seconds

  14. Are protection products too complicated for the public to understand? Are protection products too complicated for the public to understand? • Not at all complicated • Far too complicated • Not at all complicated • Far too complicated 5% 7 votes 18% 28 votes 22% 34 votes 43% 67 votes 12% 19 votes 10 You have seconds

  15. Should modules on financial protection feature in the new school citizenship curriculum? Should modules on financial protection feature in the new school citizenship curriculum? • Yes, definitely • Nice idea but it won’t happen • 16 year olds are too young to take in the message • Schools have enough to teach already • Yes, definitely • Nice idea but it won’t happen • 16 year olds are too young to take in the message • Schools have enough to teach already 41% 65 votes 12% 19 votes 24% 38 votes 23% 36 votes 10 You have seconds

  16. Hold a conference Agree the marketing themes/slogans Raise money from the industry for a generic campaign Produce educational material for schools Devise a brief for a simple generic protection products Lobby government ministers Campaign for tax relief Publish case studies of how other countries tackle this problem What should be the next steps for the Promoting Protection Campaign? (vote for up to 3 options.) What should be the next steps for the Promoting Protection Campaign? (vote for up to 3 options.) • Devise a brief for a simple generic protection products • Lobby government ministers • Campaign for tax relief • Publish case studies of how other countries tackle this problem • Hold a conference • Agree the marketing themes/slogans • Raise money from the industry for a generic campaign • Produce educational material for schools 40 169 99 133 2 107 139 3 59 103 10 You have seconds

  17. Panel Discussion

  18. Declined claims

  19. Has the number of declined claims increased or decreased over the past 12 months? Has the number of declined claims increased or decreased over the past 12 months? • Increased • Decreased • Stayed about the same • Increased • Decreased • Stayed about the same 22% 26 votes 23% 28 votes 55% 66 votes 10 You have seconds

  20. Who should be responsible for making sure a claim is not declined? • The insurer • The advisor • The customer 10 You have seconds

  21. Will tele-underwriting help combat this? Will tele-underwriting help combat this? • Won’t make any difference • Will make the problem worse • Should improve things abit • It will ensure that nothing slips through the net • Won’t make any difference • Will make the problem worse • Should improve things abit • It will ensure that nothing slips through the net 10% 16 votes 5% 7 votes 73% 113 votes 12% 18 votes 10 You have seconds

  22. Raise awareness and grow the industry

  23. Who should be responsible for it? Who should be responsible for it? • The ABI • Product providers • Other trade bodies • The media • The Government • Advisers • The ABI • Product providers • Other trade bodies • The media • The Government • Advisers 28% 43% 3% 6% 14% 6% 10 You have seconds

  24. Will protection ever become as important as pensions or mortgages? • Never • Definitely 10 You have seconds

  25. Retail Distribution Review

  26. Is the RDR likely to have a major impact on the industry?Answer on a scale of 1-5 • Is no impact • Is a major impact 10 You have seconds

  27. Will it change the industry landscape for forever or is it just another bout of regulation? • It is a total revolution • It is a step in the right direction • Neither one or the other • It could make things worse for the protection market • Don’t know 10 You have seconds

  28. Revolution or evolution

  29. Do we need more product development or should we try to work on the products already existing in the market? • The current product set is too limited • Products do not meet consumer needs • They are too complex • It is about right • We need fewer products • The product range needs to be expanded • A major overhaul is required 10 You have seconds

  30. What is best evolution or revolution?(Answer on a scale of 1 – 5) • Gentle Evolution • Total revolution 10 You have seconds

  31. Value Vs Price

  32. Is it possible to combine good value with competitive pricing? • Yes • No • Don’t know 10 You have seconds

  33. Are we likely to see a rise in premiums over the next few years? • A big price hike is due • They will creep up • Steady as she goes • They have a bit further to go down • Price war: you haven’t seen anything yet 10 You have seconds

  34. Closing remarks

  35. How does the future for intermediated/advice based health and protection business look to you? How does the future for intermediated/advice based health and protection business look to you? • Bleak • Squeezed but surviving • About the same • Improving • Booming • Bleak • Squeezed but surviving • About the same • Improving • Booming 25% 21% 22% 17% 18% 25% 19% 19% 16% 18% Before After 10 You have seconds

  36. How does the future for intermediated/advice based health and protection business look to you? How does the future for intermediated/advice based health and protection business look to you? • Bleak • Squeezed but surviving • About the same • Improving • Booming • Bleak • Squeezed but surviving • About the same • Improving • Booming 5% 6% 31% 29% 28% 30% 31% 29% 5% 6% 2006 Result 2007 Morning 10 You have seconds

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