A total of 15 protection providers took part in the ratings this year, where each provider is independently benchmarked for their propositions across eight different protection product categories.
Protection Guru has unveiled its Protection Product Provider Ratings for 2020, designed to lend clarity on providers' protection propositionsand to help advisers identify the strengths of each providers’ propositions.
A total of 16 protection providers took part in the ratings this year, where each provider is independently benchmarked for their propositions across eight different protection product categories.
Categories included are life protection, mortgage protection (life only) and mortgage protection with critical illness.
The features included are the most frequently selected from over the last 12 months by advisers usingFTRC’s Quality Analyser, its online protection cover comparison tool, and iPipeline’s SolutionBuilder Product Features Report.
The key features reflect the areas that advisers consider most relevant when selecting the most appropriate cover for their clients.
Each participating provider and product received a Gold, Silver, or Bronze rating for their overall proposition, as well as for each underlying feature which make up the proposition, in recognition of individual areas of excellence.
Adam Higgs, head of research at Protection Guru, said: “With so many products on the market, advisers and consumers are confronted with an overwhelming amount of choice.
“Through our independent analysis of the products available, combined with our unique and comprehensive analysis of critical illness propositions, advisers can feel confident that they are choosing a product that truly takes account of their clients’ individual circumstances.
“The product ratings are just one way that Protection Guru seeks to improve consumer confidence in the protection cover offered across the industry.
"This, alongside Quality Analyser and iPipeline’s Product Features Report, enables advisers to compare products based on an unparalleled level of analysis.”
Ian McKenna, director and founder of FTRC, added: “In 18 months Protection Guru has become the go to destination for detailed technical analysis and research for advisers, providers and reinsurers in the protection market.
“By analysing and weighting provider propositions against features that advisers deem most important for their client, the ratings ensure that providers are developing and improving products which truly reflect the needs of the consumer, and helps advisers in finding the right product for the client.”
