Annual Statements – December Forum Recap Part 1
This session explores the growing importance of Annual Statements in protection advice and how they can strengthen long-term client relationships. In the first half of the discussion, the panel focuses on the practical role Annual Statements play in client engagement, retention and ensuring protection remains aligned with changing life circumstances. The conversation highlights the gap between what insurers currently provide and what advisers and clients actually need to make Annual Statements useful, meaningful and easy to understand.
The panel also examines how advisers are using Annual Statements as a proactive review tool rather than an administrative exercise, sharing real-world experiences of how effective communication can prompt valuable client conversations and uncover changing needs.
Chaired by Ian McKenna, the panel featured:
Scott Taylor-Barr, Principal Adviser – Barnsdale Financial Management
Emma Astley, Founder & Adviser – Cover My Bubble
Adam Kaplan, Founder & Adviser – Pendragon Protect
In this session we will be discussing “Annual Statements” with our panel, focusing on:
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Why do we send Annual Statements?
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What information do insurers need to include in Annual Statements?
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What can insurers do better when it comes to Annual Statements?
Listeners can expect insight into how Annual Statements can drive better client outcomes, improve retention and help advisers deliver more personalised, timely support. The full audio of the session is available below.
“When we get notified that an insurer has sent out an annual review to the client, we have a standard letter that goes out to the client.”
“We do that by post because people get so much email traffic now whereas something landing on your door mat makes you think I’ve got an actual letter.”
“We’ve got that standard five year statement which says if we’ve not reviewed your plan in the last five years, it is probably worth a look.”
Click the audio playback below to listen to the full session.
Full session audio
Part 1:
Part 2:
Part 2:
“We do our own bubble certificate that we send out every 12 months to clients anyway.”
“They are quite in depth and jargony and a lot of waffle and information. So we send them to clients, but we simply do our own annual statement.”
“We email that over to the clients and ask has anything changed and remind them of the added value benefits.”
“You’d be surprised how many times clients reply and say they’ve separated from a partner or they want to look at income protection when they didn’t before.”
“It’s so important to do reviews and it helps the retention of the business as well because clients stay with you.”
“We’ve simplified the process to literally attaching the anniversary statement from the insurer.”
“We sent out 18 last night and we’ve already had three responses.”
“It’s not even a two-minute form. I’ve now got three opportunities to go back and review my clients.”
“It’s a very simple but effective process.”
