Consumers should receive annual statements reminding them of their insurance cover, similar to those received for pensions and investments, according to the Protection Distributors Group.
The group, which represents 10 IFA firms, has joined forces with the Finance & Technology Research Centre Protection Forum to call for change and decide what information should be contained in such statements.
The intention is that policyholders will be regularly reminded of the policies they hold, what they can claim on and what ancillary benefits they can make use of such as medical and legal helplines plus discounts.
The statements will also contain a prompt to review cover as circumstances change and, if bought through an intermediary, the firm's contact details if the policyholder has any queries.
Emma Thomson, chair of the Protection Distributors Group and life office relationship director at LifeSearch, said a protection statement would help policyholders feel more valued, improve consumer engagement and lead to more people being able to claim.
She said: "For years, many intermediaries and the F&TRC Protection Forum have been asking insurers to improve information on existing clients but unfortunately not enough has been done hence the need for this renewed campaign."
The campaign has taken inspiration from the government's request for pension providers to provide consumers with an online dashboard where they can see all their pensions pots in one place.
Roy McLoughlin, partner at Master Adviser, said annual statements for investments and pensions were already key in his role advising clients and should be repeated.
He said: "I can inform a client about their pension, which will often end in an increase in premium and quite frequently the same result with their Isas.
"Protection should underpin their savings and investments but the lack of statements from most protection providers is both unsatisfactory and makes it difficult and more expensive to give clients the advice they need."
The first step of the initiative between the two groups is to ask insurers to commit to at least a basic level of communication as a first step.
For the future they would like insurers to develop interactive systems that enable clients and intermediaries to get real time information on policies, with access to information on claims, premium collections, policy values, ancillary benefits available, guaranteed insurability and other similar options.
