CIExpert, the leading critical illness cover comparison tool, has announced its expansion into the income protection market by featuring Guardian’s recently launched income protection product on its Insight Zone.
This strategic move responds to market demand for a dedicated income protection section within its policy information hub.
The Insight Zone, which already covers critical illness and life policies, will now include a branch specifically focused on income protection.
The digital dashboard design offers a user-friendly ‘birds-eye’ view of all aspects of an income protection proposition.
The platform’s dynamic design and interactive tools enable advisers to delve into detailed policy features and enhance their knowledge.
CIExpert has developed a unique Maximum Benefit Tool to help advisers visually compare coverage levels between plans and better illustrate options for their clients.
Interest and usage of CIExpert’s Insight Zone have grown consistently since its launch in 2021, with recent additions including Zurich and Vitality.
Alan Lakey, director at CIExpert, said: “Income protection products have their own set of challenges and complexities and face a different set of barriers for adviser and client adoption. We have taken this first step to aid advisers in this area by creating a new set of interactive tools and the insights available will serve those advisers already engaged with IP.”
Andrew Wibberley, co-chair of the Income Protection Taskforce, added: “The IPTF are delighted to see CIExpert introduce income protection to their service.
“CIExpert has built a reputation over the last 10 years from making the process of assessing quality and reviewing critical illness policies a simpler one by cutting through the complexity and enabling advisers to clearly articulate the differences between policies.
“Applying this same focus to income protection should give advisers more confidence to understand and explain differences, further accelerating growth in the market and resulting in more people protecting their incomes.”
Roy McLoughlin, director at Cavendish Ware, concluded: “The news that we’ll now be able to select income protection utilising CIExpert’s expertise will be welcomed with open arms by many across the industry.
“If CIExpert apply the same insightful approach they have employed to critical illness it will clearly be a great asset for advisers.
“Not only is it important for advisers but our experience is that clients like to understand the rationale for policy selection and that research tools are an important element in gaining their understanding and engagement.
“There is still a market challenge to get more advisers talking to their clients about income protection and a research tool like this has an incredibly important training aspect for firms getting their advisors and paraplanners to understand and explain the advantages and disadvantages of each company’s plans.
“Sourcing comprehensive research is of paramount importance to advisers so being able to utilise CIExpert’s expertise with the most important protection product of all is fabulous news.”
