Tag Archives: protection

Fiona Murphy on Editing Cover Magazine and Pushing Positive Protection Stories – MPAF60

MPAF Podcast, , , , , ,

In this week’s episode I talk to Fiona Murphy who is Editor of Cover Magazine.

It’s an interesting look behind the scenes.

How they collect news stories. Commission articles and analysis. And divide content between the print and online versions, and the soon to be launched mobile app.

Listen to Fiona’s views on how we can push positive protection stories and how you can get involved.

That’s all right here in Episode 60 of the Marketing Protection and Finance Podcast.

Fiona Murphy on Editing Cover Magazine and Pushing Positive Protection Stories

Who is Fiona Murphy

Fiona is a journalist and Editor of Cover Magazine, the specialist protection publication from Incisive Media.

Fiona’s Links:

  • Freakonomics by Steven D Levit and Stephen J Dubner

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Tony Horn: Should Distributors Lead Protection Proposition Development? – MPAF59

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This week I talk to Tony Horn who has some interesting views on the future of the UK Protection market.

Price cuts, additional illness conditions and underwriting changes seem to be the only tools in the protection providers box.

The result is a stagnant market.

Tony’s view is that distributors should drive future protection growth by building their own propositions. And cutting out the main stream providers where necessary.

Do you agree that the future of the protection market lies with distributors?

That’s all right here in Episode 59 of the Marketing Protection and Finance Podcast.

Tony Horn: Should Distributors Lead Protection Proposition Development? - MPAF59

Who is Tony Horn

Tony has 26 years experience in the Life Insurance Industry, qualifying as an actuary in 1996, specialising in Investment.

Since then he’s worked for Friends Life and Aviva and now runs Positive EV helping companies develop their own propositions.

Tony’s Links:

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Protection Providers: Please Stop Passing The Buck

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Good PR raises brand awareness and is a cost-effective way of getting stories out there.

But have you noticed a recent trend for a style of news story template that effectively passes the buck?

Buck

Protection providers particularly seem to favour this approach.Here’s an example from a recent news story in the financial trade press.

Providers urge advisers to help close protection gap – FTAdviser.com

Head of marketing at Cirencester Friendly, commented that the findings should serve as a warning to the adviser community and UK population as a whole.

“Protecting earnings is an important aspect of sound financial planning; those who are unable to work due to illness or injury face a dramatic reduction in their income which in turn, results in difficulty making mortgage repayments or paying rent, buying food and paying bills.

“Responsible advisers have a duty to ensure that their clients have put adequate safeguards in place should the worst happen.”

Read full article on www.ftadviser.com

Check out any trade publication and you’ll see similar news stories. In every case the company followed a typical three stage template. They:
  • Did some research that confirms consumers don’t have (or want) a product or service.
  • Craft a story around the consequences the consumers face by not having the product or service
  • Urge the industry, or segments of the industry to take action to solve the problem – in this case, “responsible advisers have a duty to ensure……”

It’s obviously a successful template because it generates column inches. A neat little press release structure that almost guarantees take up.

But isn’t there a bit missing?

What is the company telling the story doing to help solve the problem? Where is their advertising campaign? What about a series of case studies showcasing the experiences of people affected? Where are their tools for helping “responsible” advisers to make good on their “duty”.

The three stage template passes the buck to someone else.

We need a part 4 to this often used news piece template.

Instead of passing the buck, the company promoting the story needs to say:

  • This is what we are doing to solve the problem

Or.

  • This is what we are doing to help you to solve the problem

That’s not passing the buck. That’s saying were all in this together. It’s only together that we’ll kick-start the stagnant protection market.

Now it’s Your Turn:

Do you think Protection Providers are passing the buck? Please leave a comment or share your thoughts on this article because I’d genuinely like to hear your views.