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Guardian: COVID-19 part of every protection conversation

Jake Carter

November 11, 2020

protection policies

Over four fifths, 82%, of advisers say COVID-19 is part of every protection conversation, according to Guardian.

Moreover, of the 316 advisers surveyed, 76% outlined that their clients are more willing to discuss protection since the pandemic.

In addition, 56% of advisers noted that they had seen an increase in protection enquiries from new clients, up from 39% over the summer.

Advisers also noted a rise from existing clients, with 49% of advisers recording an increase in inbound queries from their existing customer base, up from 40% in the summer.

Furthermore, 53% of advisers reported an increase in protection sales.

Looking to revenue, 57% of adviser firms surveyed outlined that income steams had not been affected as a result of COVID-19, while 38% reported losses.

Earlier in the summer, 54% of advisers said they would expect to resort to new ways to make income due to the impact of coronavirus. However, within the firm’s latest research, only 29% now believe they will have to do so.

Jacqui Gillies, marketing and proposition director at Guardian, said: “Half a year on from the initial shock, 76% of advisers report clients are still showing increased willingness to discuss protection.

“This is the single most important change we have seen in client behaviour for years and it is persisting. The experience of 2020 means protection is what people want to talk about.

“Almost everyone has a protection need. COVID-19 has put this front of mind for clients and many have been making proactive inbound calls seeking financial advice. Advisers have such an important role to play in helping people identify their needs and find the right product and we have a role to play in supporting them.”


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