According to the latest Protection Viewpoint report from the Association of Mortgage Intermediaries (AMI), which surveyed around 3,000 people, 25% of under-35s started looking at protection but then didn’t complete it.
The AMI said the “drop-off points” pre-application were “stark”, showing that 47% abandon the protection process after receiving a quote. This rises to 56% in older consumers aged 55-plus and 52% for men.
Around a quarter said they ended the process after the initial application stage and a fifth dropped out at the very beginning after they had researched their options.
The AMI noted that the online channel was the dominant entry point for starting the protection journey, with 31% looking at a specific website, 31% going via a price comparison site and 26% going through an online search engine.
This compares to 24% who started the process by speaking to someone in person.
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The AMI said this reveals that “digital accessibility has not always translated into completion”, which shows that “multiple touchpoints” are “essential”.
The human touch is also crucial, with around 70% of consumers saying it was important at each stage, even the youngest respondents.
Stephanie Charman, chief executive of the AMI, said: “Too many consumers are dropping out of the protection buying process. As an industry, it’s important we take the time to review the customer journey more closely. By identifying where pinch points occur and considering where we can signpost to advice, we can help more people get the cover they want and need.
“Viewpoint is designed to be the start of an ongoing dialogue. This year’s report places an emphasis on clear calls to action, which AMI will be actively driving forward throughout 2026. We encourage industry to reflect on the part each of us plays – it’s vital we continue to work together to meet the needs of consumers and advisers alike.”
