The Intermediary – October 2025 - Flipbook - Page 75
or variable income assessments make a huge
LifeSearch to help meet their protection
difference for this group.”
responsibilities.
The cost-of-living crisis, though a challenging
hurdle, can also catalyse protection conversations.
Lakey explains: “As with the Covid-19
Traditional products and distribution methods
need to adapt to move on.
“Our partnership model and opportunities to
experience, the cost-of-living crisis has created
embed protection into wider brand experiences
opportunities to initiate conversations about
and conversations offers new ways to engage with
protection and has generated heightened
consumers at the right time, through the right
awareness of potential financial loss.
channel, with a product that's right for them.
“However, it seems that it needs an event, such
“With sustained commitment, there is plenty
as sickness or death in the family or within a
more opportunity to deliver our purpose – to
friendship group, to galvanise some people
protect more people properly.”
into action.”
Harper says: “Tighter budgets mean people are
more cautious – but also more conscious of risk.”
He outlines the LifeSearch approach,
highlighting its focus as a protection specialist
The opportunity
For brokers, this presents both a business and
ethical opportunity.
Vaughan recommends changing the approach
for over 25 years, with a sole commitment to
to client conversations by starting with empathy
protecting people properly.
and understanding the their lifestyle, income
Harper explains that the company sees itself
as an advocate for customers, always aiming to
act in their best interests. He believes that having
patterns, and vulnerabilities before suggesting
any products.
She advises using tools that make
access to the whole market allows LifeSearch
complex decisions easier to understand, and
to find suitable protection for clients from all
always recording the reasons behind any
backgrounds, rejecting the use of panels or
recommendations.
inflated premiums.
The hybrid model combines technology with
This approach helps to build trust,
demonstrates compliance with Consumer
expert advisers, making comprehensive, fee-
Duty, and ensures the client feels listened to
free protection advice more accessible to those
and protected, rather than simply being sold
with complex financial situations, while still
a product.
providing full adviser support when detailed
For Lakey, it’s about making the case for
guidance is needed.
protection central.
Technology and the future
explain why critical illness cover is an essential
Vaughan is optimistic about recent developments,
protection product.
He says: “The key thing for advisers is to
noting that technology is now handling much
“Working with a comparison system will allow
of the workload by automating pre-assessments,
them to understand and explain the differences
streamlining suitability documentation, and
between basic and comprehensive cover.
enabling real-time affordability checks.
She adds: “This allows advisers to focus on what
they do best: building trust, understanding client
needs, and delivering tailored advice.
“Platforms like the ones previously mentioned
are already helping brokers compare products
“If cost is an issue, then covering 50% of the
mortgage is a valid means of ensuring that some
protection is available.”
The risks faced by non-vanilla borrowers are
real and immediate. The cost-of-living crisis
hasn’t made protection less urgent; in many ways,
not just on price, but on quality and fit, which is
it has made it more important than ever, even as
essential for non-standard clients.”
people look for places to cut their spending.
Harper believes digitisation will underpin
the next leap forward for protection, saying:
“The protection market has remained static
in terms of policy sales for the last two decades.
“Market concentration and an over-focus
on price stifles innovation and limits access
for consumers, particularly those that are
underserved or considered as ‘non-standard’.
“The demands of Consumer Duty will no
Every conversation between adviser and
client is a chance to bridge the gap between
vulnerability and security, and to provide advice
that will continue to be relevant and supportive
for clients well into the future, no matter how
their circumstances change.
In this new era, the challenge for the sector
is clear: to meet the needs of today’s clients,
and to ensure that protection is not viewed as
doubt command distributors to be more
an optional extra for those who land outside
specialist, and we are seeing more mortgage
the traditional mainstream, but rather as the
and wealth management firms approach
foundation of responsible, holistic advice.
October 2025 | The Intermediary
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