Sesame Bankhall Group (SBG) has launched a range of practical support guides to help advisers boost their protection business.
The guides have been developed in response to research conducted for SBG’s Protection Pledge campaign, which aimed to highlight some of the key issues and challenges that prevented advisers from writing more protection business.
They focus on three of the key challenges advisers face:
- Customer communication: A white labelled consumer guide to protection which advisers can use to present and outline the options to customers in plain and easy-to-understand language
- Making a recommendation: An overview for advisers of the four key factors that are central to making a protection recommendation – product, price, underwriting and service
- Underwriting: A step-by-step guide to help advisers navigate the protection underwriting process, including useful tips to help speed up the process
Emma Thomson, head of protection and GI propositions at Sesame Bankhall Group, (pictured) said: “At a time when volatile economic conditions are increasing the pressure on consumers, protection can provide financial resilience and peace of mind.
“The onus on advisers to have these conversations will increase further through the implementation of Consumer Duty, as the FCA looks to ensure businesses are helping provide better outcomes to customers and safeguard them against foreseeable harm.
“Over 750 advisers signed-up to our campaign and pledged to have a protection conversation with every customer, so we know the appetite is there. Now that our campaign has identified the key protection challenges advisers are facing, boosting their knowledge, skills and confidence is the natural next step.
“SBG’s guides will make it easier for advisers to make a recommendation and navigate the underwriting process, while also empowering their customers to make better-informed decisions when it comes to protection.”
New Leaf Distribution is one of the financial advisory firms that signed up to the Protection Pledge campaign.
Daniel Hobbs, managing director of New Leaf Distribution, added: “As a forward-thinking firm we are always looking for ways to improve our customer communications and streamline adviser processes.
“All these new guides are a welcome addition, helping us to engage our customers by presenting the options clearly and simply. The consumer guide to protection is one of the best I’ve seen as a summary for customers, and it can be white labelled too, which is a real bonus.
“Once a customer truly understands the reassurance that can be gained from protecting themselves and their family’s future then the benefits to all become abundantly clear.”
