PruProtect celebrates 2nd anniversary with Best Service award

PruProtect, the joint venture between Prudential and South African market leader, Discovery, is celebrating its first two years in the UK protection market with the following news:

The first half of the year saw a six-fold increase in new business (sales of APE £6 million for the first 6 months of 2009 compared with APE £1 million in 2008)

More than 6,000 new intermediaries registered to transact business in the first half of the year

All core products, including Income Protection and Serious Illness Cover have received a 5-star rating from the independent product comparison company Defaqto, as well as other independent ‘9/10' ratings

The business has won two awards in 2009 - ‘Best Service' at last night's COVER magazine awards and ‘Best New Initiative' voted by independent advisers

PruProtect has more than 60 face to face IFA broker consultants, plus over 50 telephone account managers, and we are continuing to recruit further distribution resources as part of our commitment to servicing the IFA market

Justin Taurog, Marketing and Distribution Director for PruProtect, said "2009 has seen PruProtect making a real impact on the UK protection market. Our goal is to help close the UK protection gap through providing comprehensive, innovative and appropriate value for money solutions that genuinely meet modern consumer needs. We are fresh, different and innovative - and we are helping to grow our market."

Vivien Hearn of Barfield Financial Advisers, said "The PruProtect policy is the best thing that has come to the market in the last 20 years. As well as covering 154 illnesses severity-based cover means that more claims are paid sooner, and last but not least the vitality points systems can reduce premiums."

Roy McLoughlin, IFA at Master Adviser, said "In a dour and much maligned market PruProtect has achieved a unique double of making both the consumer and the adviser sit up and want to explore a revolutionary new approach."

Peter Chadborn, principle at IFA CBK, said "PruProtect has continued to innovate and challenge old thinking in the protection market. The industry needs such companies who are not afraid of breaking the mould in order to introduce new ideas."