In collaboration with Iress, we analysed over 23,000 customer applications from 2023. This examination enabled us to construct an updated profile of today’s income protection customer. Comparing this with five years ago revealed shifting needs and emerging trends, prompting an evaluation of whether products and markets have kept pace. Building on those findings, our 2024 report goes deeper, drawing on more than 50,000 applications to explore demographic shifts, new trends, and the growing role of multi-benefit solutions. Together, these insights provide a clearer picture of who is buying IP, why, and how the industry must adapt.
Profile of an IP customer - Evolving the profile
Building on last year’s insights, this report delves deeper into the evolving dynamics of Income Protection sales, incorporating fresh data from 2024 and broadening the scope to include policies sold as part of multi-benefit solutions.
This year, our analysis is more comprehensive than ever, drawing on over 50,000 applications to uncover emerging trends, demographic shifts and the growing importance of financial resilience.
Profile of an IP customer report - Spotlight on business IP
Business Income Protection is one of the most undersold yet critically important areas in the protection market today. While personal IP has seen encouraging growth, business IP remains a largely untapped opportunity. This report highlights the rising demand, the evolving profile of those purchasing Business IP, and the strategic role it plays in ensuring business continuity, employee wellbeing, and long-term financial resilience.
Profile of an IP customer report - Preferences and Needs
In recent years, the landscape of income protection insurance has undergone a significant transformation, marked by a noticeable increase in sales and a shift in demographic interest towards younger generations. In this report we will look at how the profile of an IP customer has changed over the years (from 2017 to 2023).
This comprehensive examination has enabled us to construct an updated profile of the IP customer today resulting in rich insight into where the growth is coming from and what type of people are buying what types of policies against changing economic and demographic factors.
”The latest Profile of an IP Customer Report reveals fascinating insights into the shifting landscape of Income Protection. With IP sales reaching record highs, it's clear that more people are prioritising financial resilience. But who is buying, and why?
Carly GibbSesame Bankhall Group
