Biba Signposting Agreement

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Published on: December 4, 2020

“The fact that we were able to bring this signalling system to market today will make a difference to thousands of people who may have thought that coverage was out of reach.” Caroline Barr added: “We have a great opportunity to represent insurance as a force for good, working together to help consumers. Signage means that companies can support a customer, even if they can`t find coverage themselves. What we need is greater awareness of flight time and greater cooperation. It can be a change of game for a lot of people who are struggling, and that is why I was delighted that I was asked to chair the commission.┬áThe agreement, renewed today, came into force in 2012. It was then revised in 2015 and last in October 2019. The agreement helps seniors find the coverage they need when they have had difficulty finding appropriate insurance. THE BIBA triage process connects insurance applicants to a BIBA broker who can assess its insurance needs and obtain an appropriate policy. In addition to the launch of the 2020 Manifesto, THE BIBA announced that 26 regulated insurance providers, professional associations and charities have signed an agreement to alert job seekers to a specialist broker if they cannot obtain a regular policy due to an existing illness. The signalling agreement is voluntary and was the culmination of discussions within the Insurance Access Group, which began in September 2018. Based on BIBA`s experience with the successful pension and insurance agreement and the desire of specialist claimants to help people obtain life-saving coverage such as life insurance, income protection and health insurance, a voluntary signage agreement was put in place on 21 January 2020. Treasury Economy Minister John Glen said: “Consumers of all ages should have access to the right insurance for them. That is why I am pleased that the government and industry have been able to come together again to help.

It`s great to see hundreds of thousands of people using the signage service to inquire about auto and travel insurance products, and I hope we`ll see even more benefits in the future. Alan Knowles, Managing Director of Cura Financial Services and President of the Distributors Protection Group, concluded that specialized companies have the experience and know-how, as well as an appetite to find solutions for people who, due to illness or disability, may perceive appropriate protection insurance as a challenge. The implementation of this agreement is excellent for both customers and the insurance industry. Last week, we reported that the protection industry has joined in creating signage for specialists to improve access to insurance for people with pre-existing illnesses and disabilities.

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