Protection Review Conference Innovation – what innovation?. Roger Edwards , Product Director, Bright Grey. So how innovative are we at the moment?. So how innovative are we at the moment?. Spiral of price competition. Industry infra-structure geared to price only.
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Roger Edwards , Product Director, Bright Grey
we at the
are we at the
Industry infra-structure geared to price only
Ambitious plans to grow market share
Short term need to meet targets beats long term desire to
innovate and be different
Prices fall further
When it comes to protection are retailers behaving like retailers?
Psuedo - preferred lives
ProfitWill price continue to fall?
Given regulation, advice justification, reasons why, threat of legal action
are we at the
We couldn’t do that because……
That’s a daft idea…..
The Reassurers won’t let us do that….
My only concern is that…..
a piece of paper to file away and forget about?
a promise to pay money when something horrible happens?
peace of mind?
compensation for life changing events?
claimWhere to innovate
Innovation needn’t be confined to the product – think about all the proposition touch points
“Buy one get one free”
“In the event that you procure one item, as defined by the appropriate boxed quantity and confirmed by the electronic point of sale supervisor, we will assist you in the procurement of a second item, as defined by the appropriate boxed quantity, for no charge, that is, no monetary transaction, as defined by an exchange of currency, would be needed”
bottle to replace
the GP report?
Is the industry
obsessed by removing
risk from writing
Income replacementConsumer needs
Family income benefit on death
Income protection for occupational disability
Is the answer MPPI+ or IP-