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Navigating the ocean of Value-Added Services - Beneath the surface report 2022
schedule
7 mins
Richard Purcell | April 2022
schedule 7 mins
Introduction
The UK & Irish protection markets continue to innovate, and while a lot of this has centred on the core products and their distribution, more recently we’ve seen a greater focus on Value-Added Services (VAS). This is particularly due to their increased usage during the Covid-19 pandemic.
These services can take many forms, and provide a way for insurers to give more value to customers, and engage with them in a way not previously possible. VAS can also provide a way for the protection industry to transform itself from a market focused on commoditised products that historically are infrequently used, to one that’s characterised by highly beneficial services that are regularly used by customers.
In this report, we’ll:
- Analyse the current VAS landscape in the UK & Irish protection markets.
- Look to understand the views and experiences of customers, with the aim of assessing how much value these services are really adding today.
- Look at what insurers say, and consider what the future might hold for the development of VAS.
