Continued on next page... 5 Every time you select a Provider for a client, you are potentially giving the gift of access to Mental Health Support via the additional benefits programmes offered by Insurers. I know there is a lot to think about when making your recommendations, but these shouldn’t be forgotten given the pressure on the NHS and wait times for counselling. The Market: Swiss Re Report 2023 2024 2025 100 new firms added Consistent with a ‘Whole of Market’ stance Human Care Focus: Major Charity Mind used the week to highlight the importance of active listening, person-centered care, and reducing the stigma in local communities. Themes emerge from the 2025 data and analysis Selective, advice-led growth: Volumes declined modestly, but advised channels proved more resilient, with income protection driving activity. More tailored demand: Customers are increasingly structuring protection around specific budgets and priorities, supported by more flexible product design. Shifting product landscape: Income protection is becoming more central, alongside increased use of multibenefit solutions. More segmented market: Customer needs are diverging, placing greater emphasis on targeted propositions and adviser support. Annual Premium +15% growth this year +23% previous year taking action for yourself, for someone else, and for all of us. HEADLINE HEADLINE Take measurable steps to protect your wellbeing and challenge systemic mental health issues Wear it Green Day (14th May) Providing fundraising opportunities Distribution comments in the Report Non-advised sales accounted for 24.2% of new term assurance business in 2025, representing a decline from the previous year despite only a modest reduction in overall volumes. This continues a broader downward trend from the higher levels seen in recent years, when non-advised sales approached 50% of new business. This shift towards advised distribution is particularly evident for products including critical illness, where sales fell more sharply, reinforcing the role of advice in supporting customers to navigate comprehensive Protection. Income protection remains strongly adviserled, reflecting the complexity of the product and the importance of guidance in helping customers understand and structure appropriate cover. This is particularly relevant given how benefit payments can interact with eligibility for State Benefits Conclusion of the Report The 2025 results reflect a market that remains resilient but increasingly shaped by changing customer behaviour and structural evolution. Customer selectivity continues to influence both demand and product design, contributing to more targeted purchasing and divergence between product lines. At the same time, underlying protection needs remain strong. The challenge for the industry will be to convert this need into sustainable demand through clear value propositions, flexible product design and adviser-led solutions aligned to customer budgets while continuing to adapt to a more segmented and demanding workforce environment with increased numbers of self-employed and GIG economy workers Product Entrants and Enhancements Beagle Street have been working with some intermediaries to “test” their proposition in the Intermediary space. Initially they were a Direct to Consumer Business but are in the process of launching fully in to the adviser market. Initially, the offering will be Life and/or CI, but they do have somewhat unique approaches to loading for non-standard lives. You will be seeing them appearing on the portals soon so you will need to refer back to the Paradigm information as to how you access the Product and the commission terms available. It is positive to see new entrants in to the Intermediary space given the recent loss of HSBC. National Friendly have announced that they will add Life Cover to their offering of Income Protection. These will be available across a range of Joint Life and Single Policies.
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