The Untapped Power of Mutual and Friendly Societies in Income Protection
Description
In this month's episode, Matt and Stevie explore the unique role of mutual societies and friendly societies in the income protection market, examining their history, customer benefits, and future growth potential under the new Labour government by speaking to Andrew Morris, CEO of Cirencester Friendly and Nicola Huxley of Sphere Financial Services
Listen now to learn more about:
• How Mutuals and friendlies are owned by members (policyholders) rather than shareholders
• How these societies often excel at providing cover for clients with niche occupations or pre-existing conditions
• The Labour government's commitment to doubling the size of the mutual finance sector as part of its manifesto
• How Nicola Huxley's insights into focusing on multi-policy rather than multi-benefit sourcing to help identify mutual options
• How mutuals reinvest profits to benefit members
• Mutuals often provide more personalised underwriting and claims experiences
• The legislative challenges the sector faces, but the significant growth opportunities
• How experienced advisers can leverage mutual partnerships for enhanced client retention and business growth
Links from the episode:
- IPTF's 7 Claims Stories - Story 1 with Cirencester Friendly
- Nicola Huxley on Instagram
- Nicola Huxley's "Survive & Thrive" Podcast
- Cirencester Friendly
📣 Send the podcast your questions, thoughts or advice to feature on a future episode via:
Voice notes via SpeakPipe
Or email Info@IPTF.co.uk
📣 For More Education, Collaboration and Insight:
IPTF Website
IPTF on LinkedIn
IPTF on YouTube
IP Task Force on Instagram
Produced and edited by SEA Studios
United States
