The implementation on 21st December has not been well received, with the vast majority (96%) of advisers surveyed by Avelo, believing gender differences were based on solid principles.
When the technology portal asked how big an impact the Gender Directive would have on the protection industry, less than half (42%) thought it would have a significant impact and a similar amount (48%) said the impact will be minimal or slight.
Dave Miller, head of provider relationships at Avelo, said: “Our research shows that the Gender Directive is a highly contentious issue. An overwhelming majority agree that this directive is not in the best interest of the market, yet are divided with regard to its impact.
“However, given that the directive is going ahead, providers will be working hard on their propositions and product suites. Come early next year, I am confident that what we are left with is not a watered down version of the current market, but in fact a market with more opportunity for both consumers and advisers.”
