The Financial Conduct Authority (FCA) is considering using the submission of tax returns and other major life events such as births to promote awareness of protection insurance.
The regulator highlighted the possibilities as part of its pure protection market study final report.
It has already begun working on several approaches with public sector and industry partners, but also said there were areas it wanted to explore with the public sector and the government.
“We will continue to explore with public sector, government and charity partners how protection prompts could be delivered at key life events and financial touchpoints,” the regulator said.
“This may include opportunities to reach consumers when they become a parent or guardian, become self-employed, submit tax returns, experience a change in their health or family situation, or face other significant life or financial events.”
Using these events would likely need far greater integration with central government and public sector bodies.
The FCA has made raising take-up of protection, particularly among those disproportionately unprotected the key plank of its pure protection market study.
