Scottish Provident has addressed concerns over the future of the protection insurance market in its latest advertising campaign.
Recent changes in the insurance market have resulted in much speculation about the future and general condition of the protection insurance market. The 'Turbulent market' advertising campaign aims to reassure intermediaries about the future of the protection insurance market, and to allay any fears they may have about the cost and continued benefit of selling protection.
Nick Kirwan, head of marketing and product development at Scottish Provident, says: “The protection insurance market is in a state of change and as one of the market leaders we need to put the issues into perspective and tackle the changes head on.
“The cost of protection insurance may be rising but the risk of critical illness is as real as ever, which means the demand for protection insurance should not be affected by changes to premiums. In reality, the changes mean that prices are likely to simply return to the level they were at a few years ago.”
The campaign supports the industry's drive for clear and open communication by financial services by delivering “strong, yet effective messages” designed along a question and answer theme.