The Association of Mortgage Intermediaries’ (AMI’s) latest Protection Viewpoint report, which surveyed around 3,000 people, shows that this goes up to 54% and 57% respectively among those under 35.
However, the report noted that only 27% of consumers trust AI to help them make final decisions, which the AMI said showed there were “limits to algorithmic influence”.
Adviser feelings around AI ‘mixed’
The AMI said adviser feelings around AI were “mixed”, with a fifth of advisers saying they feel confident in using AI in their day-to-day business.
Around a quarter said they view automation and the rise of AI as a threat to the advice sector.
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Specifically looking at the protection process, 49% were positive regarding using AI to produce client documents and 39% were positive about using it to manage application pipelines.
However, there were still “reservations” around product recommendations, with only 25% citing AI as a positive for that use and 30% saying it would be negative.
This was also similar for initial customer interactions, with 25% saying using AI would be positive and 29% saying it would be negative.
Jamie Page, head of protection distribution at The Exeter, commented: “This year’s Viewpoint research reinforces what we see every day: that human connection is still at the heart of protection.
“Even the most digitally savvy consumers want empathy, reassurance and real conversations when making decisions about their future. As proud sponsors, we believe the future lies in blending smart technology with trusted advice – not replacing it.”
Vikki Jeffries, market development director at Legal & General’s (L&G’s) Retail business, added: “The Viewpoint research highlights a clear opportunity for the industry to evolve how we engage with customers. It’s not just about products; it’s about fostering connection, meaningful touchpoints, and trust to ensure people feel confident in their choices.
“Whether customers start their protection journey online or in person, advisers play a vital role in guiding them through life’s uncertainties and addressing their individual needs. Providers must also step up by offering advanced tools, proactive support, and helping firms develop impactful engagement strategies that truly resonate with customers. As an industry, we can make significant progress by listening to customers and adapting to their evolving needs.”
Jon Fuller, protection distribution director at Royal London, commented: “AMI’s latest Viewpoint report highlights a critical challenge: too many people begin the protection journey but don’t complete it. While the growing influence of AI, especially among younger consumers, offers convenience, it’s clear that AI is yet to win over the majority at the final hurdle, as just 27% of consumers trust it to help them make final decisions about their protection needs.
“We must ensure that consumers, especially younger ones, feel confident, informed and supported, whether they’re researching online or speaking to an adviser. By working together, we can close the gap between intention and action, helping more people secure the cover they need.”
