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Protection Products Too Hard to Understand

The ABI has done a survey showing that protection products are hard to understand. This is no surprise, fulfilling the rule of thumb on old boss of mine always had "I hate research" he grumbled "it only ever tells you what you knew already".

But it is useful for highlighting a problem, and follow up research can help you see if you've made any headway.

And there is a problem - people don't trust us because they think our policies are deliberately confusing. Our lawyers think they are deliberately precise.

That's a problem.

At the moment the lawyers are winning and the clients, the sales team, and marketing are all losing.

Is New Zealand any different?

Nope. I've been ploughing through documents for the development of our new product research and they are complicated. Most require a reading age well above the average for New Zealand for example. But more on that subject will be in my next column at www.goodreturns.co.nz

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