Axa pilot project aims to close protection gap

by Gill Montia

Story link: Axa pilot project aims to close protection gap

AXA has launched a new training project aimed at helping independent financial advisers (IFAs) sell protection insurance.

The insurer has joined forces with Chisenhale Consulting, the sales training and development firm, to run a pilot programme that comprises a number of modules promoting the importance of client discussions on protection cover.

Participating IFAs will have the opportunity of developing their technical knowledge of protection products and their understanding of the Financial Services Authority’s Treating Customers Fairly directive.

They will also learn various methods of increasing business by offering protection products.

Jamie McIver, director of protection sales at AXA, points out that there is currently a £2.3 trillion difference between the mortgages that advisors sell and the level of protection sales sold alongside the loans.

He explains that: “The aim of this pilot project is to find out whether this type of training can help close the protection gap and help build stronger relationships between providers and advisers.”

The pilot scheme will be reviewed in early 2008 and if it has proved successful could be offered to more advisers in the near future.