This is backed up by IP sales which are starting to rise. The Association of British Insurers (ABI) reported that IP policies hit 247,000 last year, a 16% increase compared to 2022. When we look at our own Protection Platform data, we’ve seen a steady and impressive uptick in the number of IP policies sold. There was a notable growth of 28% from half one in 2023 to half one in 2024. At UnderwriteMe, we’re continuing to lead and promote the importance of IP, giving advisers access to as many IP providers as we can. We’ve recently introduced Vitality IP and Holloway IP onto our platform, with plans for additional providers in the pipeline. We remain committed to providing advisers and customers with an array of insurers to compare prices and underwriting from. It's important the industry continues to work together to promote the benefits of IP, whilst building consumer trust and making sure IP products are easily understood, whilst giving customers the best possible outcomes. When it comes to Straight Through Processing (STP) we see that through the Protection Platform 75% of customers are given a point-of-sale decision. By giving customers immediate up-front point of sale decisions, it takes away the waiting time of having the case assessed manually and potentially the need for medical evidence, which adds further delays to the process. Start getting familiar with the IP cover our insurers have to offer on the Protection Platform: • Log in • Register 11 AUTUMN PROTECT NEWSLETTER
RkJQdWJsaXNoZXIy MjI4MjU4NQ==