MetLife is seeing the first signs of a return to normality due to an increase in claims for sports related activity in recent months.
Rich Horner, head of individual protection at the insurer, also praised the protection industry for its progress in diversity and inclusion compared to other financial services sectors.
Horner (pictured) told Health & Protection while some of the 14,000 claims the insurer paid under its accident and protection product last year were Covid-related, it did not receive as many for reasons such as fractures due to people being in lockdown.
However, he added that there were signs claims were starting to return to normal following the pandemic – revealing that in the last couple of months the insurer has seen fracture cover claims increase.
“The hospitalisation for illness which came with Covid-19 has started to tail off a little bit, but the good news is we’re seeing the world start to return to normal,” he said.
“We’re seeing those fracture cover claims come back in because people are able to play football, rugby, go out on bike rides like they were before, so we don’t seen any slowdown in our claims.
“In fact we’re probably expecting them to be increasing and go towards a record year.”
Horner also elaborated on the group’s mortgage protect product which was launched as a phased rollout, starting with a pilot in January.
Ahead of launch MetLife worked with advisers, customers and compliance departments and Horner noted the group had worked with advisers and distributors to get their feedback on the product.
In the last two months it has brought on new networks and distribution partners and is now seeking to grow wider awareness and expand the marketing of the product.
Diversity progress
He also touched on the significant progress the protection sector has made in becoming a more diverse place to work in over the last decade.
“What I can say is that, the access I’ve had over the last 14 years to see advisers face-to-face, going to networking events and distribution partner meetings and particularly in the protection industry, you can see the demographics changing,” he continued.
“There is a younger, much more diverse, far more female representation than there was, and I’ve seen big differences in the mortgage and protection market versus pensions and investments.
“From what I’ve seen with my own eyes, if I go to a protection or mortgage event, it feels like it is a much more diverse range of advisers than I’ve seen previously.”
