Protection Guru has released data showing that UK advisers using its Protection Guru Pro (PGP) service in the first half of 2024 increasingly recommended protection products based on value rather than price alone.
The data compared recommendations made in January to March and April to June and revealed a shift in adviser behaviour in line with Consumer Duty Regulations, highlighting the potential for behaviour change among the adviser community.
When considering quality and price, Royal London and Guardian received a significant share of recommendations, while advisers showed an increasing preference for recommending Vitality products.
Overall, advisers using PGP tended to recommend the fourth or fifth best product based on quality, which ranked 9th or 10th by price alone.
Ian McKenna, founder of Protection Guru, said: “By taking price and quality into account across the full range of protection products, we give advisers the tools to do their job in the best possible way, and follow the FCA’s guidance under the Consumer Duty Regulations.
“The data demonstrates our service is driving real changes in adviser behaviour – leading to better consumer outcomes.”
