So, how are your New Year’s resolutions going? By this stage of the calendar, many people’s best intentions have already fallen by the wayside as the realities of a busy workload, depressing weather and ever climbing outgoings set in.
This failure to change is probably inextricably linked to the type of resolutions folk tend to make; it’s almost always cutting something enjoyable out of their life. Whether it’s finally putting out the cigarettes, banning excess booze or slashing sugar intake, there’s long term gain but short term pain involved.
It’s a hard truth for us, as an industry, to accept, but Life Cover is another of those good intentions which, grudgingly, are carried into a fresh year and are often swiftly forgotten as other, more exciting and interesting, drains on the family purse arise.
Protection insurance just isn’t a subject, worthwhile and potentially crucial though it might be, which gets people excited and (intermittent) attempts by the industry to raise it up the national to-do list have tended to focus on the negative aspects associated with the cover; grieving widows, cancer sufferers and fear.
This approach only serves to exacerbate the problem of our products falling into the same camp as the other annual promises; grim, depressing but necessary.
PruProtect is in the unique position of having something different to offer potential protection customers. Our healthy living programme, Vitality means that cover doesn’t only protect when a claim is made - clients can get something back everyday.
We don’t just want to provide our clients with a protection policy - we want to help them get more out of life. That’s why we’re passionate about telling everyone about Vitality and so our New Year’s resolution is to start shouting a little louder. We’ve committed to a consumer awareness campaign which will see the positive message of Vitality and PruProtect promoted across the UK.
It’s time we got people talking about protection and not simply as an abstract concept, which may provide a payout years from now, but something as a part of their everyday life which gives them tangible benefits and improves their life day-to-day. Something they’re keen to talk about with friends and family.
This is how we will grow the market and, ultimately, change the perception of the proposition in the eyes of our customers.