Life & Health Insurance MARKET INSIGHT REPORT 2016 Q3




We are delighted to announce that Leighton Phillips is joining us here at Assured Futures on Monday the 28th November 2016.

Leighton joins us from Active Quote, he has extensive general insurance and financial services experience and in addition to his Head of Business Development role at Active Quote he has held several senior positions at Lloyds TSB, Screwfix & Barclays. Leighton will be performing an operational role for an initial period.

Ian Sawyer, Managing Director at Assured Futures shares his thoughts:

"This is a super opportunity for Leighton and a great acquisition for Assured Futures. Together we can deliver even better outcomes for our partners and grow the business, we are delighted to have him on board. Leighton has been a friendly competitor of ours for the last 4 years, so he knows the business model well and it is one that he has appreciated from afar. We both believe that Assured Futures is the best in its field for outsourced life & health comparison services and has the financial, compliance and commercial robustness that is needed for the future and that is why he was keen to join us. We are confident that Leighton will play an important role in our successful future."



MSM Confused Go Compare CTM Assured Futures
Lowest price £24.16 Realm £20.43 Fortify 120 £20.43 Fortify 120 £24.11 Realm £16.50 National Assurance
2nd Lowest price £30.57 Health-on-line £20.70 Aviva £27.07 FirstCall £25.21 Paymentcare £24.11 Realm
3rd Lowest price £27.38 Paymentcare £21.10 Fortify 90 £32.14  Legal & General £26.86 Assurity £25.21 Paymentcare
Number of insurers 7 9 6 10 11

Income protection, covering £1,000 per month, for 12 months, for accident, sickness and unemployment with a 30 day excess for an employed 30 year old male, earning £40k per year living in GL52.

MSM Confused Go Compare CTM Assured Futures
Basic cover £30.57 Health-on-line £32.88 Aviva £16.68 Aviva Speedy D £12.07 WPA £12.07 WPA
Mid-range Cover £40.29 Health-on-line £32.88 Aviva £27.45 Bupa £21.10 General & Medical £21.10 General & Medical
Fully Comprehensive Cover £57.43 Health-on-line £44.37 Health-on-line £60.13 WPA Elite £29.59 General & Medical £29.59 General & Medical
Number of insurers 7 10 11 12 12

PMI prices based on 30 year old male, non-smoker living in GL52, with an excess of £250.

MSM Confused Go Compare CTM Assured Futures
Lowest price £6.92 Beagle Street £7.13 Admiral £8.22 Beagle Street £8.17 Beagle Street £8.77 Royal London
2nd lowest price £8.26 L & G £7.84 Aviva £8.31 L & G £8.79 L & G £8.80 L & G
3rd lowest price £8.40 LV= £8.68 LV= £8.59 Vitality £8.93 LV= £8.83 Scottish Widows
Number of insurers 9 11 8 7 11

Life (Term) prices based on 30 year old male, non-smoker, living in GL52, covering £200,000, over 20 years with a fixed premium.

MSM Confused Go Compare CTM Assured Futures
Lowest price N/A N/A N/A N/A £10.59 AEGON
2nd lowest price N/A N/A N/A N/A £10.82 Old Mutual Wealth
3rd lowest price N/A N/A N/A N/A £12.14 Zurich
Number of insurers N/A N/A N/A N/A 8

Life (WOL) prices based on 45 year old male, non-smoker, living in GL52, covering £10,000.

MSM Confused Go Compare CTM Assured Futures
Highest cover N/A £5,605 One Family £5,217 Shepherds Friendly £5,605 One Family £5,605 One Family
2nd hightest cover N/A £5,502 Shepherds Friendly £5,010 AIG £5,566 Assurity £5,566 Assurity
3rd highest cover N/A £5,277 AIG £4,711 L&G £5,502 Shepherds Friendly £5,502 Shepherds Friendly
Number of insurers 0 4 4 8 8

Over 50s prices based on 60 year old male, non-smoker, living in GL52 choosing a premium of £20 per month with a 24 month wait period.

Providing more choice in the Over 50s market

Assured Futures is delighted to announce the release of two new over 50’s products (Assurity and National Assurance) to the market place, bringing their panel to 8, the widest in the market.

The development of the two products came as a result of listening to customers and matching their needs with the products already available in the market. It was highly noticeable that the products available at the time didn’t fully and effectively service the needs of customers and that someone in the industry needed to do something to fill these gaps.

The Over 50s protection product market has, over recent years been given bad press with some customers paying in more than the benefit paid out but without question, this market will continue to grow due to the ageing population. There can be no argument that there is a place and a real need for over 50’s products and when sold correctly, they offer many benefits to the consumer including guaranteed acceptance (they are not medically underwritten) and a fixed sum pay-out.

We are proud to have created the two products alongside our partners Covea who are the policy provider and Swiss Re, the re-insurer.

National Assurance Assurity One Family AIG Legal & General Shepherds Friendly LV= Aviva
Age 50-80 50-80 50-80 50-75 50-80 50-75 50-80 50-80
Age premiums stop 85 90 90 90 90 90 90 30 years or to age 90
Waiting period 24 months 36 months 12 months 24 months 12 months 24 months 12 months 12 months
Ian Sawyer, Managing Director at Assured Futures gives his view on the new products:

We believe that the launch of the two new products not only strengthens the over 50’s market as a whole, the fact that we now have 8 fantastic products on our panel really cements Assured Futures’ position as a broker and partner of choice. The new products provide differentiation and variety in a market that was calling out for more choice. We still believe that there is more that can be done and so we are now looking to develop a capped product and we are working closer with insurers to bring this to market as quickly as we can.”

Unemployment drives demand for Income Protection

Analysis of sales figures for Q3 2016 by Equifax Touchstone shows an increase in sales of Income protection up by 13.1% to £9.0m. The article cites the sluggish growth of protection sales overall and warns that any growth in pockets of the protection market may be short term especially because of the uncertainty surrounding Brexit.

No matter what conference or summit you’ve attended or whichever publication article on income protection you’ve read over the last few months, you won’t have missed the one overwhelming message; the industry as a whole needs to overcome the challenge of selling income protection.

Analysis of buying behaviours and consumer triggers from our own data here at Assured Futures shows us that unemployment cover is more important to consumers than health. We write several thousand income protection plans a year and without doubt enquiry levels continue to rise so we know that people are looking.

The breakdown of income protection sales at Assured Futures over recent months is outlined in the chart below. 65% of the demand has been for some type of unemployment cover- so the first thing we must acknowledge is that consumer’s main driver is actually unemployment and not sickness.


Statistics released by the Office for National Statistics in September 2016, between February and July 2016, the number of unemployed people fell. Commentators on the economy have said that whilst the figures do cover the period before the Brexit outcome, any positive trends are unlikely to continue.

As Teresa May announced at the Conservative Party Conference earlier this month that Article 50 will be triggered by the end of March 2017 and as the value of the pound continues to weaken off the back of the Brexit decision, we can only assume that uncertainty will continue to grow and with the legacy of the last recession still fresh in many people’s minds, we believe that the fear of losing one’s job will become more prevalent and this is the time when we in the industry should be emphasising to clients the importance of income protection before it’s too late for them.

Recognising the importance of mobile responsive web journeys.

In March 2015, Google released an article reporting that more searches on Google were now coming from mobile and tablets than desktop. When Microsoft’s CEO Satya Nadella made one of his first public appearances in 2014, he recommended that companies should be adopting Microsoft’s “mobile-first” strategy when developing their digital and business strategies. Back in 2008, an analyst that reviews trends in technology predicted that “mobile to overtake fixed internet access by 2014.” We are now well past this point, it is no longer a case of when this will happen but how consumers’ behaviour will differ depending on mobile device.

Research released in late 2015 shows that the majority of people now access the internet on their mobile device, in fact a mobile or tablet is the first place that people now turn to for many aspects of their lives (whether that be to find directions, to order their food or to research products). If companies are still in doubt about the importance of mobile phones, statistics released in March this year surely provide all the evidence needed to prioritise mobile web journeys. These statistics are illustrated in the infographic below:


Statistics from our own web journeys over the last 3 months are also in line with those released nationally:


In the last 3 months, 52.83% of our customers have used either a mobile or tablet to access our web journeys.

Over the last 18 months, the management and digital teams at Assured Futures have spent a lot of time and resources developing an effective mobile strategy. We have invested heavily in monitoring software which has helped us to understand how a client gets to our websites and also how they behave when they are online and we have translated this analysis into creating mobile responsive journeys for all of our products and websites. Statistics such as “40% [of mobile customers] have turned to a competitor’s site after a bad mobile experience” (In a mobile responsive ecommerce survey conducted by Google) show that we can’t afford to become complacent. As a company, we fully embrace the ever evolving digital world and we will continue with the customers’ online experience being at the heart of what we do.



A client was wanting life insurance to cover his funeral costs. He had recently lost his parents and so understood how expensive funerals were. He in turn knew that his children would struggle to meet the rising costs of these as well.



"This particular case highlights that no matter how difficult a person’s circumstances may seem, the experience and relationships that we have developed over the years as a Broker means that we really can explore all avenues to obtain cover for a client and that without this kind of knowledge and expertise, a customer may just give up and fail to get the cover that will help their family out in the long-run.”
Linsey Sutton- Life Insurance Team Manager



Ian Sawyer
Managing Director
Linsey Sutton
Life Insurance Team Manager
Ian Pascall
Medical Insurance Team Manager
Martin Hedicker
Income Protection Team Manager
Rebecca Fludder
Commercial Development Manager


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Please note the above represents the views of the authors only and does not constitute insurance advice. Assured Futures Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Assured Futures, Ellenborough House, Wellington Street, Cheltenham, GL50 1AP, 01242 537 082. Registration number: 3040737. Infographic Icons made by Freepik from is licensed under CC BY 3.0