Running alongside that , providers will be continuing to improve service standards for customers and advisers to ensure the industry continues to grow and deliver best outcomes .
Another major trend for 2025 will be the continued focus on value-added benefits ( VABs ). The top protection trends in the past year have been about adding value and enhancing cover , providing better outcomes for customers whether they ’ re claiming on their protection insurance or not , and this will continue into 2025 .
At HSBC Life UK , our cover now includes the customer ’ s partner and children up to age 23 , with a free annual health check and mental health services available for children aged 16 to 23 . We ’ ve broadened definitions within mental health and thoughts of suicide and included new conditions , such as type 2 diabetes , to reflect changing customer needs . In 2025 , we predict more customers will start to recognise the value of and make use of their VABs . We encourage this with 6-monthly reminders about VABs , and again within the annual statement .
2 . Be prepared for big changes
The life insurance market is going to see some big changes in 2025 , says Britney Trussler , Protection Manager at Dynamo and winner of Rising Star , Intermediary in the 2024 COVER Women and Protection and Health Awards .
“ I think we ’ ll see a greater focus on underwriting this year ,” she says . “ The way evidence is currently collected is outdated and a huge pain point . The NHS is obviously overstretched and completing a medical report for an insurer is understandably low on a GP ’ s list of priorities . Clients are stuck waiting months on end for GP reports to be returned .
“ By the time the GP report is back , clients are often completing on their homes , or they haven ' t been able to . There may also be health changes in the meantime which can leave customers vulnerable .
“ The industry needs to address these concerns and find better ways to get the medical information they need without making it painful for clients . I think we ' ll see a movement towards leveraging technology , such as data from NHS apps , and even providers accepting specialist letters directly from clients . There ’ s an urgent need for systemic change and for providers to be more forward thinking .”
3 . Boost your education and awareness
The needs and circumstances of the average family are changing rapidly , and understanding where your clients are at can be key to forging and maintaining mutually beneficial relationships . Paul Roberts of CIExpert , authors of the Critical Thinking Report on the UK critical illness market , is a great believer in education and awareness . What do consumers really need and want ? You can only truly know if you commit to educating yourself , says Roberts . He cites the movement away from joint critical illness policies to single policies as an example of a changing landscape . A rise in interest in single policies , as recommended by CIExpert in its ‘ Single is Best ’ campaign , can be understood in the context of greater awareness of financial independence , coercive relationships , economic abuse and related issues . While products themselves cannot be quickly or easily changed , the way we talk about them with customers can . Which is why awareness and understanding of the needs of vulnerable customers and the changing social and economic context is invaluable .
HSBC Life UK ’ s adviser toolkit is packed with information for advisers and clients . Customers might not know , for example , that with HSBC Life UK they get access to VABs such as a second medical opinion , unlimited 24 / 7 digital GP consultations , mental health services , remote physiotherapy , and an annual health check .
Simplybiz also has an insights section to keep on top of trends , including regulatory changes , as well as a CPD programme .
And for more self-education that counts towards your CPD targets , The Protection Coach , Matthew Chapman , has released his free Blueprint to Protection Success course . “ The Protection
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