There’s a strong argument to say there’s a growing protection need for renters or the so called 'Generation Rent' - especially as while a bank or building society might give a borrower a payment holiday on a mortgage in certain circumstances, a landlord is less likely to be generous.

Living longer

And then there’s the fact that we’re living longer and more people are working past the traditional retirement age.

This means their protection needs are extended and with the population ageing, this need is set to grow.

Support from providers

In order to help advisers meet these needs, providers need to continue working in partnership with them, through product development and initiatives, such as the protection ambassadors network.

To help advisers, providers must invest in their own brands, products and services and harness the latest technology to make applying for cover and claiming as simple and straightforward as possible. 

As well as being fully committed to paying all valid protection claims for example, insurers should also aim to pay our customers as quickly as possible.

Initiatives that can help do this include using texts and emails to communicate quickly with customers, dedicated claims specialists and enable direct credits to customers' bank accounts.

It is also worth seeing which insurer has introduced e-signatures when it comes to requesting medical records - long a bone of contention with advisers and providers alike, as GPs can sit on requests for a long time.

But when Zurich introduced e-signatures, we saw a 73 per cent return rate and 68 per cent of documents are being returned within 24 hours.

Addressing the protection needs of the nation is a growing challenge, for individuals and their families and society as a whole.

For a family, we know that the impact of the main breadwinner not being able to work through illness or disability can be devastating with financial hardship resulting in the loss of the family home for those worst hit.

As we witness a shift in the burden of responsibility from the state to individuals, people need to take more responsibility to protect themselves and those they love.

We have a duty to work together and continue raising awareness to make sure customers can access good advice and cover themselves and their loved ones at an affordable price.

Gary Shaughnessy is chief executive, Europe, Middle East & Africa, for Zurich Insurance