Protection sector needs to move on: Aviva
The insurance industry should concentrate less on the costs arising from the EU gender directive and more on making consumers understand why they should buy these products, Louise Colley has said.
The head of protection, sales and marketing for Aviva, said it was time the industry stopped talking about costs and redirected its focus on improving consumer perception of affordability and understanding of the products.
She argued that most products are still good value and that the retail product investor actually has very little understanding of the costs associated with them.
Ms Colley said: “The perception of affordability is always an issue, but life insurance is good value, and will continue to be even after the gender directive comes into force.
“Someone may think they can’t afford it, but for what you get when things go wrong, it is really good value.”