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MIp6-7_0110:MI 2008 15/12/2009 13:27 Page 2
Protection news
MPPI sales
double for
ABI proposes changes to CI
Select &
The ABI is planning to rebrand and Following a stakeholder work- Practice for Critical Illness
Select & Protect has seen its
standardise definitions of the Total shop to take this important work Cover that will include the new
Mortgage Payment Protection
Permanent Disability (TPD) benefit forward, the ABI has agreed to: set of definitions.
Insurance (MPPI) sales
in Critical Illness (CI) insurance lPropose a set of clear and easy Nick Kirwan, the ABI's assistant
figures double since its new
policies, to improve clarity for con- to understand standard defini- director, health and protection,
product launched in July this
sumers. tions that build on the concept said: "It is vital that customers
Following an extensive consulta- of TPD (for example, removing understand what their Critical
The product, provided by
tion, it is proposed that a new set of use of the words ‘total perma- Illness policy does and doesn't
FirstAssist Insurance
standardised definitions will go nent disability' that cause so cover. The approach we are adopt-
Services, was launched to
hand-in-hand with improved edu- much confusion for con- ing builds on our previous work
address a number of broker
cation for consumers, financial sumers). to create more descriptive head-
demands to protect their
advisers and sales forces. lProduce a standard set of edu- ings and clearer definitions.
customers comprehensively
The ABI consultation was cational materials for insurance "We were very pleased with the
at a competitive price.
focused on measures to improve companies and advisers to use, level of response to our consulta-
Paul Firkins, sales director
customer understanding of TPD, explaining clearly the changes tion. We heard that people want
for Select & Protect said: “Our
and therefore to reduce the number and what customers can expect standard definitions, and that
of declined claims. The vast majori- education and clarity are key
MPPI product boasts a
from their policies.
ty of consultation respondents, con- to improving understanding.
number of selling points
lTest the proposed definitions
sisting of insurance companies and We have more work to do, but
including the option to sell
with consumers.
other key stakeholders, agreed that we now have a clear view of how
Unemployment only cover and
lConsult all stakeholders on the
the work the ABI was doing to
new definitions.
to go forward and achieve these
the option to sell the product
improve TPD was worthwhile.
lIssue a new Statement of Best
as standalone – features
which are strongly sought
after in the current climate.
Bupa enhances group income protection
Within just two weeks of the
launch, we saw MPPI sales
Bupa has enhanced its group return-to-work interventions and appropriate and early intervention
increase by over 90% so there
income protection claims proposi- guidance according to individual and return-to-work solutions.
is clearly a high consumer
tion following customer and needs and where it really matters. "Having a nurse involved at the
demand and we’re pleased
intermediary feedback. Employees do not need to com- start creates a triple win. It means
that we can fill this gap in the
From January 2010, Bupa will plete lengthy claim forms. Instead, that the employee has support
provide appropriate early inter- a trained nurse will call or visit from the very start of the claim
The MPPI product is
vention and return-to-work sup- employees at home to gather from a dedicated team of medical
available to registered brokers
port on all group <http://home- claim details and provide full sup- professionals, helps reduce work- port from an early stage of place absence and reduced claims
via S&P’s fully compliant
tion_form.html> income protec- absence. cost and premiums which benefits
online trading platform, S2,
tion schemes with no increase to Steve Payne, director of Bupa the employer and ensures accurate
and full product details, sales
premiums. Health Assurance said: "Our cus- information is passed to Bupa
tips and comparisons for the
Dedicated claims assessors and tomers tell us that when an quickly so that the claim can be
product can be found at
nurses will be allocated to each employee cannot work due to processed speedily and efficiently,"
case to enable Bupa to target long-term sickness, they want he said.
Select & Protect are now
preparing to roll out a follow- Fortis announces partnership with Sesame
up e-campaign to its brokers
communicating the
Fortis Life UK has continued its in the protection market, the new Kelly, said: "Greater competition
phased distribution roll-out with distribution deal provides further and innovation in the protection
importance of MPPI in the
the launch of a new partnership evidence of Fortis' strategy of market is always good news for
current climate and how to
with Sesame. expanding its IFA network in a advisers and their clients, which is
successfully market the
The deal gives all Sesame controlled way to ensure market- why we welcome the addition of
product to new and existing
appointed representatives and leading standards of service are Fortis onto our panel of product
customers. As part of the
directly authorised firms access to maintained to advisers. With providers. We have been
campaign, three lucky brokers
Fortis' protection products and other major distribution deals impressed by the way in which
will win a marketing
application systems and extends in the pipeline, the life insurer Fortis has embraced technology as
consultant for the day to
Fortis' overall coverage in the expects to be available to part of their proposition, which
enable them to market this
market to over 15,000 advisers. the whole of the IFA market in enables the majority of clients to
important cover to their
Building on Fortis' significant 2010. receive instant decisions through
growth in its first year of trading Sesame managing director Nick their intuitive online system."
January 2010 Mortgage Introducer
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