The Income Protection Task Force (IPTF) has welcomed seven new members for this year. They include Shepherds Friendly, HSBC Life UK, RedArc, Best Insurance, Realm, MMS and CIExpert.
Vicky Churcher, executive director at the IPTF, (pictured) said: “We have received widespread support for our ambitious plans for 2025 and as we rely on member funding as a not-for-profit organisation, we are extremely grateful to all of our members, including those joining this year, for the support they have shown the IPTF in helping us to achieve our plans this year.
“Our expanded membership reflects our desire to broaden the conversation around protecting income this year and also our commitment to consider income protection as a holistic proposition.
“Additionally, some of our work this year will go beyond income protection and make a contribution to the wider industry.”
Phil Nash, chief sales officer at Shepherds Friendly, said “Shepherds Friendly is delighted to join the IPTF for 2025 and contribute toward the goal of creating a greater awareness around all things Income Protection.
“Our own recent study highlighted that only 14% of Brits have IP, so there’s a real need to continue to educate the public on the financial safety net it can provide.
“We’re also looking forward to further helping advisers understand the importance of friendly societies and mutuals, and the benefits that they provide to their members.”.
Richard Waters, head of protection distribution, HSBC Life UK, said: “We are proud to be members of the Income Protection Task Force, raising awareness and fostering an environment where income protection can be better understood.
“HSBC Life (UK) is curious about innovation in the income protection market to deliver positive outcomes for customers.”
IPTF said that during 2025 it will be considering the role of ASU and accident-only cover as part of a protection offering for customers.
Kesh Thukaram, co-founder at Best Insurance, said: “Best Insurance is one of the UK’s largest distributors of ASU insurance and believe strongly that it is one of the most important insurance policies any working individual should have.
“The main reason for low adoption is a lack of awareness, and a lot more has to be done in this area. IPTF, over the years, have done excellent work in increasing the awareness of income protection insurance, and with this initiative, I believe the same can be achieved in ASU, too.”
During 2025, IPTF added it will be working with members on a range of projects including IPAW2025, a new cohort of 7Advisers, further episodes of the #LetsTalkIP podcast launched last year and several new initiatives to be announced in due course.
Churcher said: “We have an ambitious agenda for 2025 which looks to continue much of the good work started in 2024 while introducing some new initiatives all aimed at starting important and interesting conversations around income protection and driving growth in the market.”
