Article date: 4 June 2003
Norwich Union Healthcare announced it is one of three mainsponsors for the next three years of The Protection Review,a new publication from Bank House Communications. The first issuereveals the results of what will be an annual survey of markettrends comprising the opinions of key market players on a number ofissues.
Although respondents were optimistic about growth prospects forthe protection insurance sector in 2003, the survey highlighted thefour most important issues facing the industry today:
- Concerns over regulation and compliance
- Reduction of capacity and the approach to pricing inreinsurance
- Critical illness design and stability
- The need to improve the industry image and customerconfidence.
Of the four issues, regulation received more votes than theother three issues combined and was raised by almost half of allrespondents.
The Protection Review, which is co-edited by AndyCouchman and Peter Le Beau, also provides an overview of theprotection market and looks at past, present and likely futuretrends. It has evolved in response to demand from industrycommentators and providers. Commenting on the launch Andy Couchmansaid: “The annual survey of market trends was undertaken toascertain the views of key market people. An important element ofany market is what those who operate in the market think about it.Clearly, concern over the impact of regulation is enormous anddominates other issues.”
Tim Baker, Director of Business Development at Norwich UnionHealthcare, commenting on the sponsorship said: “I believeThe Protection Review fills a gap in the market. I hope itspublication will open up the debate on the strategic approach toprotection and it is the ideal forum for us to get our messageacross to decision makers.”
The Protection Review is published on Thursday May 222003. To order contact Andy Couchman at Bank House Communications,tel: 01451 821982 or e-mail email@example.com.
Press office contacts:
James Evans, Norwich Union Life 08703 66 68 78
Out of hours 07790 487105
Lorna Wiltshire, Norwich Union Life 08703 66 68 78
Out of hours 07788 471849
Ian Beggs, Norwich Union Life 08703 66 68 71
Out of hours 07790 487533
Louise Goffee, Norwich Union Life 08703 66 68 70
Out of hours 07810 057362
Notes to editors
1. The Protection Review was launched on Thursday May 22 2003.It costs £250 for single copies (discounts apply to bulk orders).To order copies contact Andy Couchman at Bank House Communications,tel: 01451 821982 or firstname.lastname@example.org.
2. The survey involved a postal questionnaire to leadingindividuals in the protection insurance markets, theseincluded;
- hospital and care homes groups
- specialist service providers
3. Andy Couchman is a leading commentator on the healthcaremarket and is widely known and respected in the healthcareindustry. Andy edits a regular newsletter, HealthCare InsuranceReport. Peter Le Beau runs a consultancy specialising indifferentiation, Le Beau Visage, and has an extensive network ofsenior contacts in the protection industry.
- Norwich Union Healthcare recruited a panel of 150 GPs inJanuary 2003 to take part in a comprehensive online survey carriedout by health research experts at Dr Foster.
- Norwich Union Healthcare was founded in 1990 as the healthcarearm of Norwich Union and now provides a range of income protectionand private medical insurance products to around 750,000customers. It is one of the largest providers of income protectionand private medical insurance in the UK.
- Norwich Union’s news releases are available on the Avivaplc website at www.aviva.com/media.
- Norwich Union Healthcare is a member if the General InsuranceStandards Council and the Association of British Insurers.