Most consumers who abandon the protection buying process could still be persuaded to take out cover, according to early findings from the Association of Mortgage Intermediaries’ 2026 Protection Viewpoint study.

Research among 3,000 UK consumers found that, depending on the reason given for dropping out, between 79% and 95% said something could have changed their decision and made them more likely to proceed.

AMI said the findings suggest obstacles such as price, confidence, product understanding and timing are not necessarily permanent barriers to consumers taking out protection.

The figures will form part of AMI’s Protection Viewpoint Report 2026, which is due to be launched at a virtual industry event on 5 November at 9am.

FCA FOCUS ON PROTECTION GAP

The research comes after the Financial Conduct Authority published the final report from its Pure Protection Market Study. The regulator found that 58% of UK adults had no protection, with 59% of those consumers having never considered taking it out.

AMI has been given a lead role by the FCA in work to improve adviser engagement with protection. The trade body said its annual Viewpoint research would be used to help co-ordinate practical support for advisers across different intermediary business models.

The 2026 report, produced in partnership with L&G, The Exeter and Vitality, will consider the market through three areas: changing consumer behaviour, the development of protection propositions and marketing, and the future of advice.

Stephanie Charman, chief executive of AMI, said: “The FCA’s final report has put a clear marker down: now is the time for the industry to move from talking about the protection gap to actively working to close it. The Viewpoint study gives us the evidence and insights, and now AMI has the mandate to put it to work with advisers.

“What our research tells us, is that the protection journey is not linear. Consumers are not closing the door on it, but the industry isn’t always finding the moment to open it. Cost, confidence, understanding, and timing are all barriers that can be addressed, not fixed points that rule people out for good.

“This year’s report will focus the insights through three pillars: consumer, proposition and the advice model – offering practical, evidence-led support that help the industry understand the moments, conversations and approaches that can turn interest in protection into action. We hope the industry leans in to join us to take action to close the protection gap.”

The virtual launch is aimed at advisers, firm leaders, networks, insurers and technology providers and will examine the consumer findings alongside industry and adviser perspectives.