Aegon reports 20% protection growth

clock • 1 min read

Aegon UK saw 20% growth across its protection business in 2014, the insurer has reported.

It expects 2015 to be "equally as exciting" with product enhancements across its protection products.

Aegon provided protection policies to 36,000 families, individuals and businesses in 2014, with 1000 business proposals for its Whole of Life policy in its first ten weeks.

The insurer plans to digitise and streamline its protection service in 2015, alongside its exiting telephone consultants and underwriters.

Dougy Grant, protection director at Aegon UK, said:"This programme is designed to support and excite the adviser community that Aegon sees as vital to its continuing growth strategy for protection.

"We've looked across our global business to see what knowledge, skills and experience we can leverage here in the UK and this will undoubtedly influence many of our UK strategies moving forward."

Grant added: "Last year we took great strides to achieving our mission of protecting more families and businesses in the UK. In total Aegon protected 36,000 new families, individuals and businesses in 2014.

"We hope to double this in the next three years. 2015 will be pivotal in terms of financial engagement levels.

"As people start to get more involved with their financial planning as a result of auto-enrolment and the introduction of the pension changes in April, we might start to see a knock on effect in the protection market and a renewed interest from people wanting to protect their retirement pots for example."

More on Insurer

New non-exec director for ABI

New non-exec director for ABI

Sacha Romanovitch takes the role

Cameron Roberts
clock 04 November 2024 • 1 min read
Iress adds Zurich to The Exchange platform

Iress adds Zurich to The Exchange platform

Adopts ex-smoker questions

Jaskeet Briah
clock 24 October 2024 • 1 min read
IFoA names new CEO

IFoA names new CEO

Paul Lewis to take position

Jaskeet Briah
clock 18 October 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read