Up to a third of financial advisers want significantly changed products in income protection (32%); PMI (22%) and critical illness (21%), according to an Association of Professional Financial Advisers (APFA) survey on behalf of the Protection Review.
Respondents had a range of demands, but suggested insurers need to either look to improve their designs or else better explain why current models are the right way to go.
The protection review book, available online only, attempts to gauge the mood across the adviser community through a series of surveys.
On a more positive note, a survey of the Association of Medical Insurers and Intermediaries (AMII), found 75% expect to sell more group PMI in the next two years; 70% more health cash plans; 59% more PMI; 52% more international PMI and 42% more dental.
However 50% want PMI design to be significantly changed and significantly lower premiums.
The Review concluded that Priorities for the PMI sector going forward are increasing subscriber numbers (75%), securing better tax breaks (72%) and attracting more young people to PMI (70%).
When asked what were the top ways insurers could best help advisers and their clients. The top three from APFA were to apply ratings to far fewer clients, charge lower premiums, and speed up underwriting.
AMII respondents asked for better service standards, charging lower premiums and applying ratings/exclusions to fewer clients.
Discussing the results, Kevin Carr, chief executive of the Protection Review, said: "The mood across the industry is quite positive, with many expecting to see an increase in new business.
"However, advisers across protection and PMI are demanding change and are keen to see new style products, more efficient underwriting, and more competitive premiums."
