Traditionally, the advice market has relied on face-to-face relationships between advisers and customers. However, in our current climate, that hasn’t been possible.

Andy Paterson, Distribution Manager says: “From speaking to advisers everyday, it’s clear that whilst there has been a need for advice to move online, it hasn’t detracted from the value and integrity of that of advice. If anything, advisers tell me it’s heightened the importance of protection and increased its accessibility”.

Advisers are being forced to think more creatively and digitally to service clients and generate leads. However, where do we start?

Challenging old perceptions

Previous MetLife UK research amongst advisers identified concerns about affordability and relevance of products to everyday lives, one third saying clients are put off buying protection products because they do not believe they will need them¹.

However, in 2020, the protection market faces very different challenges and opportunities. With consumer awareness heightened, and digital interactive channels being used more than ever; it seems that protection for the everyday has never felt more relevant.

Understanding the risks in numbers

• Every year across the UK, there are approximately 6,000 deaths as a result of home accidents².

• Children under the age of five and those over the age of 65 are most likely to have an accident at home².

• 66% of boys and 40% of girls will sustain a fracture before their 15th birthday³.

• Circa 20 million people in England own a bike, cycling an average of 57miles every year.⁴

Demonstrating the true value of protection

MultiProtect provides financial support 24/7 worldwide, covering a range of everyday injuries from broken bones to those that have a significant impact on life. From £8 per month, policyholders are covered if they have to spend time in a UK hospital from day 1 for accidents and after 12 months for sickness. With affordable extended cover options available, customers can protect their active lifestyle and their children too. Policyholders also have complementary access 24/7 to the Wellbeing Support Centre, providing emotional and practical support.

In 2019, MetLife UK paid 14,730 protection claims totalling £11.1 million and averaging 56 claims paid every working day. 44% of broken bone claims were for children and 88% of hospital claims were for sickness⁵.

Partnering for success

Demonstrating their commitment to customers and claims, MetLife UK have recently signed up to the Protection Distributor Group’s Claims Charter.

The Charter aims to ensure the protection industry provides customers with an efficient and hassle-free claims experience.

Richard Horner, Head of Individual Protection, MetLife UK said: “Not only does it show our commitment to improving claims standards, but it also demonstrates the great support we continue to provide to our customers. Protection claims hit a record high in 2019, with 28% more claims being paid than the previous year. This shows that MultiProtect continues to cover customers for everyday risks and we keep our promises when it comes to paying claims.”

Breaking habits and maximising digital opportunities              

Engaging with and supporting customers digitally is a different way of working, however MetLife already supplies all the tools needed online: metlife.co.uk/multiprotect.

Many advisers in the UK have been embracing the use of online video conferencing to engage with new and existing customers. It’s certainly a different way of working, but an effective way which allows advisers to continue to connect with clients when they need it most.

Simplified one-page brochures, claims testimonials and much more can be downloaded and emailed to clients, or screen-shared during video appointments.

Next steps 

To find out more about how to include MultiProtect in your protection portfolio, speak to the protection sales team.