The FCA’s Pure Protection Market Review confirms that the market remains fundamentally strong, with products generally paying out and customers seeing value. However, it also highlights a persistent challenge: protection remains absent from the daily financial lives of many people.
Ryan Griffin, Protection Director at Beagle Street (part of the OneFamily Group), says the findings underline the need for fresh approaches to make protection simpler, more visible, and naturally embedded in everyday financial decisions.
“The FCA’s interim review is encouraging, as it confirms the pure protection market has strong fundamentals. Products pay out, customers see value and outcomes are generally positive.
But the report also reinforces why new propositions are needed. Protection works well for those who have it, yet it remains absent from everyday life for too many people.
This highlights the need to reconsider how people encounter protection in the first place. Making it simpler, more visible and more naturally embedded in everyday financial decisions is where meaningful progress can be made.
The findings demonstrate that the market works well, but for too few people. As a new entrant, that’s exactly where we see the opportunity – expanding the market by bringing protection to people who have not previously been part of it.”
