News.

• 34% pointed to increased demand for advice and regulatory changes as major challenges.  
• 26% noted that documenting and recording advice conversations significantly impacted their time

• Mortgage market instability (27%) and continued pressure on consumer finances (26%) also rank high as top challenges over the next 12–24 months for advisers
• Male and female advisers highlight differing priorities, with men more concerned about changes to commission structures, while women focus on NHS investment

• Over half of advisers anticipate that demand for income protection will increase in 2025
• The vast majority of advisers across all UK regions were confident that they would be able to meet the increased demand (92%)
• Advisers report the greatest opportunities over the next 12-24 months are around consumer awareness and specialised advice

• Member registrations on the HealthWise app are up from 2,844 in H1 2023 to 5,620 in H1 2024 
• Remote GP appointments are on the rise, standing at 3,479 sessions in H1 2024 compared to 2,378 sessions that took place in the whole of 2023. 

• Warman's appointment became effective from 1st September 
• Warman will report directly to The Exeter’s CEO Isobel Langton, forming part of the mutual's Executive Committee 

• The mutual contributed £51,600 to charitable causes last year, continuing its commitment to social responsibility.

• Nearly 1,000 Health MOTs have been conducted by members to date
• New offering of unlimited remote GP appointments has led to a 142% increase in appointments being booked between November 2023 and March 2024

• The mutual's latest appointment focuses on improving income protection services for both members and intermediaries

• Overall, 93% of all insurance claims across The Exeter’s total offering were paid, totalling £41.2 million in payouts
• The total payout for income protection claims grew from £9.9m in 2022 to £11.3m in 2023, while the total payout for health insurance claims increased from £25.4m in 2022 to £28.4m in 2023
• The most common reasons for an income protection claim were musculoskeletal conditions (42.8%), hip & knee disorders (10.5%) and mental health conditions (7.5%)

• Only 6% of respondents said they did not see the importance of insurance products
• Yet, 13% of respondents are unsure of when to purchase products

UK protection and health insurer The Exeter has announced the appointments of Ali Law as Chief Information Officer and Toby Bainbridge in the newly created role of Head of Insurance Solutions.

• 66% of advisers expect interest in more affordable and guided options to increase
• 30% of advisers reported feeling worried about keeping up with customer demands this year

• Use of the HealthWise member benefits app in 2023 was the highest since the pandemic
• December saw the highest monthly usage with over 440 appointments booked during the month
• 63% of usage in 2023 was to book remote GP appointments

"We are on an exciting journey to leverage our culture and technology to provide even better outcomes for our members and advisers."

• 26% of UK workers who cancelled an insurance policy in the past twelve months chose to do so because they could no longer afford it.
• Less than half (49%) of workers were aware of the additional benefits included with policies.
• Almost a quarter (24%) cancelled as they had not previously made a claim.

• 75% of UK workers express concern over the rising cost of living. 
• More than half (52%) fear they may be unable to afford their mortgage or rental payments. 
• 58% of workers are anxious about their ability to pay for utilities and food bills. 

• Almost four out of five UK workers – equal to more than 26 million people – would prefer to consult an adviser before buying an insurance product.
• The research surveyed 2,000 UK employees, and only 21% reported that they would not wait for financial advice.

• 40% of UK workers report that affordability continues to be the most important consideration when buying insurance
• Yet, 37% of UK workers overestimate the costs of income protection and life cover policies
• 59% overestimate cash plan policy costs, while almost a third (32%) responded with "I don't know" when asked to estimate the cost

• Almost a third of UK workers (32%) overestimate the value of Statutory Sick Pay – which currently stands at £109.40 per week
• According to the Exeter’s Health & Financial Fears 2023 report, women (20%) are more likely than men (18%) to not receive any employer sick pay at all
• Only 6% of all UK workers surveyed say that income protection was unimportant, highlighting the potential for income protection insurance to provide working Britons with a wider financial safety net

• 64% of workers surveyed admitted to using at least one form of private healthcare, up from 53% in 2022
• The proportion of UK workers who found it difficult to access NHS treatments or encountered delays in being given a GP appointment rose by 10% from 2022 (61%) to 2023 (74%)
• Higher living costs leads to concerns about affordability of private medical cover – figures rising from 17% in 2022 to 21% in 2023