Practical Protection Podcast: AMI Protection Viewpoint

Stacy Penn, senior policy adviser at AMI, has joined me for this episode. We discuss the AMI Viewpoint, which is consumer and adviser research involving 3,000 UK adults and 254 IFAs and mortgage advisers. We also talk about the FCA Consumer Duty Principle and the need for educating more people on protection insurance.

The FCA Consumer Duty Principle is a topic of many conversations recently. With this in place, we should all be working hard to truly do best by our customers. That could mean altering the ways in which we communicate, to recommending more protection insurance policies and much more.

We should be empowering our customers to make the right decisions, and that should be expanded to potential customers too. The AMI Viewpoint showed several interesting things. One of which being that a third of people aged 18-34 thought they were too young to have protection insurance in place. This is definitely something we want to change.

It really is in the best interest of all parties to educate more people, particularly the younger generation on protection insurance. Whilst there’s been a great improvement in recent years, I still think there's a long way to go and a lot that we can be doing to spread the importance of protection insurance.

You can listen to the episode here: www.practical-protection.co.uk/ami-protection-viewpoint.

I have Matt Rann back with me for the next episode, and we will be talking about high net worth protection insurance.

Don’t forget to claim your CPD certificate once you have listened to the episode at https://practical-protection.co.uk/claim-your-cpd/.

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Please don’t worry if your work systems are not keen on the CPD form (it’s a Google form). Contact me on social media or through the website and I will be able to issue the certificate directly to you.