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Protection Guru bolsters critical illness product analysis

Jessica Bird

October 9, 2020

Protection Guru, in partnership with iPipeline, has enhanced the analysis provided on critical illness products via its Product Features Report.

The report is accessible via iPipeline’s SolutionBuilder, and the update aims to allow for greater understanding of the features being compared.

The report now provides simple explanations of the types of features that can be compared, by providing clear descriptors and a backlink to Protection Guru where users can access further insight and analysis on each feature.

Launched earlier this year in partnership with iPipeline, the Product Features Report is a whole of adviser market value comparison service, allowing for comparison of products on the basis of quality as well as price, for life, critical illness, income protection and business protection.

Protection Guru’s critical illness analysis includes benchmarking by an independent panel of medical practitioners to compare critical illness products based on which insurers are most likely to pay a claim.

This analysis has now been enhanced to provide the ability for advisers to compare which insurers are likely to pay higher sums based on the sum assured and an individual’s own personal circumstances.

The enhancements have been made in response to the growing demand from the adviser community for greater granularity of information and more detailed analysis on critical illness products that take account of both of these distinct areas.

Protection Guru has enhanced how it currently benchmarks critical illness product features, using a methodology that considers the sum assured, age, gender and smoker status of each client, combined with the medical practitioner’s specialist research and analysis.

This will enable advisers to determine which provider will pay the most, based on the conditions’ clients are most likely to suffer from.

The benchmarking also takes into consideration Vitality’s Serious Illness coverage with and without booster, where the amount paid is based on the severity of the diagnosis.

The Product Features Report is provided free to all current users of iPipeline SolutionBuilder.

Adam Higgs, head of research at Protection Guru, said: “Protection Guru has been conducting analysis on product features in an unparalleled level of granular detail for over five years.

“These enhancements demonstrate how our level of analysis is only becoming more rigorous as we respond to an overwhelming demand to make information on the critical illness market more accessible and transparent.”

Paul Yates, product strategy director at iPipeline, said: “iPipeline is committed to making the protection advice process easier and faster.

“Adding these enhancements to SolutionBuilder ensures the comparison of protection product features is improved, creating a richer experience for advisers and their clients.

“Advisers are now better able to help their clients navigate the increasing choice and complexity in our market, understanding on a like-for-like basis how the quality of products differ with added value benefits.

“Partnering with Protection Guru has enabled the quality conversation to be made easier as a core part of SolutionBuilder, helping advisers to get the best possible outcome for their clients.”

Charly Higman, director at Trusted Financial Advice, said: “Protection Guru is an invaluable resource for any protection adviser.

“Their daily technical summaries are indispensable and they provide easy to read analysis of complex subjects which keep advisers up to speed with who does what in the market.

“Their use of independent medical practitioners to assess critical illness plans puts them in a unique position, as no adviser can expect to have the same knowledge and understanding of the nuances of policy wordings as experienced medical professionals.

“Both features provide our advisers with a one stop shop to research and to assess the quality of our recommendations, which is a huge benefit to our advisers and clients alike.”


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