Demand for health and protection insurance is set to rise in 2025, according to a survey by The Exeter.
Many advisers expect increased interest in income protection, health, and life insurance products.
Among advisers dealing with income protection, 51% predicted a rise in demand, while 44% of those advising on life insurance expected growth.
Demand for private health insurance was also expected to rise, with 40% of advisers predicting an increase.
Advisers attributed the expected increase to economic growth, strained public healthcare services, and more technology use in insurance.
Few advisers believed tax cuts would significantly boost demand.
The survey showed 92% of advisers are confident in meeting higher demand, with regions like the Midlands and Northern Ireland showing full confidence.
Respondents saw opportunities in rising consumer awareness about insurance and the benefits of focusing on specialised advice.
Steve Bryan, director of distribution and marketing at The Exeter, said: “It’s pleasing to see that advisers are confident about an increase in demand for insurance in the next twelve months.
“Just as pleasing is the overwhelming number of advisers who are confident of meeting this demand; something that insurers also need to be prepared for to enable clients to get the valuable cover they need as efficiently as possible.
Bryan added: “As we move through 2025 and beyond, it’s important that our industry continues to collaborate and makes the most of every opportunity that presents itself to increase awareness and uptake of protection and health insurance products.
“The outlook is hugely positive and building on the momentum we have created in recent years is key to protecting more people from the impacts of ill health.”
