ClearChoice have been delivering Protection workshops nationwide.
Our workshops are designed to offer independent commentary and analysis of the Protection market as well as what we see working well in the advice industry.
The top 10 key findings from our Protection Workshops so far are the below;
- 3 Protection sales a week equals €131,040 income for a Brokerage based on a survey carried out by ClearChoice!
- Pensions and Investment business is consistently taking priority over Protection, despite Protection being more financially lucrative for a Brokerage
- Specified Illness Cover definitions have increased by 25% in the space of 2 years to 100 illness definitions across the marketplace
- Advisers are grappling with the differentiations between Full and Partial payments on various Specified Illness Cover policies
- There are fantastic Childrens benefits on most Life policies that are under-promoted by us as an industry
- There is a difference in the market by underwriters in Life Companies with regard to E-Cigarettes/Vaping
- Price, although important for both client’s and Financial Brokers, is not the only consideration when recommending a product or Life Company
- Financial Brokers are not selling multiple Protection products, despite a client having the need at the outset, ClearChoice is prioritising this in our workshops
- The Bank channel is aggressively back in the Protection space with campaigns and product offerings
- Income Protection and Business Protection are the key growth areas for the Financial Broker industry within Protection