Advisers have called for more detail and clarity around claims statistics, following the publication of income protection (IP) figures from Friends Life earlier today.
Advisers have welcomed the move from Friends Life which now means a full house of major providers publishing claims statistics - complete with IP figures - but said further transparency was needed.
Michael Aldridge, sales director at mortgage and protection advice firm London and Country, said: "Friends Life publishing statistics is definitely a good thing and the figures we have available now definitely helps. But the differences in how these statistics have been put together means they can be slightly misleading.
"There needs to be clear criteria set out for what providers are and are not including in claims statistics."
He said the responsibility in making set criteria needed to be taken on by a body outside the providers, such as the Association of British Insurers (ABI).
Alan Lakey, partner principal at advice firm Highclere Financial Services, said the move from Friends Life was "very welcome" but that there was still not enough information.
"The ABI needs to come out with a set agreement between all the providers that outlines how they are formatting this claims statistics information," he said.
"We are probably across the halfway line in terms of the industry moving away from having no statistics at all to an industry with claims statistics and fully transparent criteria for publishing them."
Lakey added the friendly societies stood out as the providers that offered the most transparency and detail with the publication of claims statistics.
The Income Protection Task Force (IPTF) said the publication of IP statistics from Friends Life was "brilliant".
Cliver Waller, co-chairman of the IPTF, said: "There are two issues that we can discuss now. The first is providers putting information out there for public understanding. The second is that advisers have to take responsibility to look further inside what the headline statistics say and find out what the numbers mean.
"If advisers feel they have enough information to fully inform clients then that is all we need."
Nick Jones, brand and marketing manager at Exeter Family Friendly, said providing the information was half the battle but the industry needed to present statistics in an engaging way to avoid confusion.
He said: "The ABI definitely has a role in getting insurers around a table to discuss a common format for IP claims stats.
"But rather than do this in isolation, there is a real need for insurers to engage directly with advisers and consumers to get their thoughts. What are they looking for from us and how can we best deliver it?"
Friends Life was the last major provider to publish IP claims statistics. It published this morning after significant industry pressure to do so.
