Critical illness firms urged to gain more trust

Critical illness providers are being called on to make a greater effort to build trust among consumers.

The industry has suffered from bad publicity surrounding claims in recent times and as such efforts need to be made to build relationships with consumers once again, according to financial research firm, Defaqto.

According to research from Defaqto, the industry has not capitalised on the implementation of the Association of British Insurers' (ABI) statement of best practice, meaning that many clients feel inadequately informed about critical illness cover.

"The future for critical illness hinges on rebuilding customer trust and developing products to meet the modern consumer's needs," insisted Nick Telfer, principal consultant for protection at Defaqto.

He added: "The evidence from providers' published statistics is that the vast majority of claims are paid and this is the message the industry needs to get across. We believe that rather than providers doing this individually, they need to work together through an industry sponsored campaign to promote the proposition to the consumer."


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