Half of British families have been financially impacted by the coronavirus pandemic a Pipslay survey found. That’s nearly 10 million households; and 54 per cent of these families have had someone take a pay cut or lost their income altogether.

In times like these, customers turn to their financial services providers for support, and, judging from what we’ve seen in the market in the months since the pandemic broke, the protection sector has not let them down.

Insurers are typically large, complex organisations. Adapting to homeworking and a huge increase in customer enquiries and claims at speed while supporting customers, remaining compliant and maintaining service standards has been no small feat. Protection insurers have adapted and updated their policies in order to support customers who have been impacted financially by the crisis. Changes have included taking full advantage of virtual GP services, offering rebates to existing customers facing delayed treatment, and bringing in payment and premium holidays to help borrowers through financial difficulty. Many life insurers have also been accepting new applicants for protection, including those on furlough.

This support has provided a vital lifeline to many households during the crisis. PRIMIS has been working closely with our life insurers since the beginning of the pandemic to ensure that as many families as possible have the benefits of protection insurance.

Advisers have – as ever – also played a key role during challenging times. Advisers have been at the forefront of communicating protection policy changes and developments to customers, providing reassurance, additional resources and guidance to customers. Daily changes and updates from the protection insurers have required intermediaries to move at speed to educate and inform customers and manage the consumer demand for protection. Some insurers have helped by launching webpages where information on product changes is centralised and updated daily. This has made it easier for advisers to provide ‘real-time’ updates to their staff and clients.

Support materials such as infographics and information packs have also been appreciated by advisers who are having conversations with their clients about protection. Such tools help brokers educate customers about the importance of cover, as well as the range of extra benefits that can come with various policies – benefits which clients might otherwise be unaware of.

Protection is a tough conversation for any adviser to have with their client – but it’s a necessary one. The coronavirus crisis means that, tragically, many families have had to deal with sickness, loss of income and death. Employees are worrying about their jobs and incomes. Business owners are concerned about their future. The protection message has never been more relevant or more urgent. Advisers will be crucial in providing peace of mind to customers, securing the necessary cover that will give peace of mind for them and their families.

With new issues and obstacles likely to arise for customers as mortgage payment holidays and furloughs come to an end, our industry will need to continue to innovate to support customers through what is likely to be a very challenging period. Advisers will also need continued support, and will be looking to the insurers for the tools and resources they need in order to make their conversations with customers easier. Protecting consumers and businesses has never been more important. Life insurers and intermediaries will continue to be at the forefront of this as the crisis evolves.

With new issues and obstacles likely to arise for customers as mortgage payment holidays and furloughs come to an end, our industry will need to continue to innovate to support customers through what is likely to be a very challenging period. Advisers will also need continued support, and will be looking to the insurers for the tools and resources they need in order to make their conversations with customers easier. Protecting consumers and businesses has never been more important. Life insurers and intermediaries will continue to be at the forefront of this as the crisis evolves.

Toni Smith is chief operating officer of Primis