Strengthening protection advice with clearer target market guidance

Carolyn Bullimore, Retail Go To Market Product Consultant, Protection at Aviva, explains how clearer target market guidance and product performance insights are helping advisers deliver more precise, client-focused protection advice.

The Financial Conduct Authority’s (FCA) Thematic Review (TR24/2) into Product Oversight and Governance (PROD 4) has prompted important changes across the protection insurance landscape. At Aviva, we’ve taken this opportunity not only to respond to the FCA’s feedback but to go further, enhancing the clarity, accessibility, and usefulness of our target market statements for advisers.

What’s changed and why it matters

Following the FCA’s review, we’ve refreshed our target market statements to fully align with regulatory expectations. These updates are more than just compliance, they’re designed to support advisers in delivering better outcomes for clients.

As I’ve worked through the guidance points, one thing became clear: this was a chance to make our documentation genuinely more helpful. The new versions are easier to read, more transparent, and offer a clearer flow of information. Most importantly, we’ve expanded the product suitability sections to specify which types of customers are and aren’t appropriate for each product.

This level of detail empowers you as an adviser to confidently match products to client needs, ensuring recommendations fall within the intended target market. It’s about making advice more precise, more defensible, and ultimately more valuable.

Supporting advice with performance insights

We’ve also introduced a new feature: annual product performance summaries. These provide insights into how each product has performed over the past year, and what that means in terms of value and suitability. This information will be updated annually and can play a key role in shaping your advice conversations and reviews.

Knowing how a product performs in practice, whether through persistency, claims experience, or customer satisfaction, help you make informed recommendations and track outcomes over time.

What you should do now…

To stay ahead of the curve and meet both PROD 4 and Consumer Duty requirements, here are some practical steps you can take:

• Review your advice process: Make sure it aligns with updated target market definitions and fair value principles.
• Use Aviva’s refreshed materials: Our new documentation is designed to support your conversations and compliance.
• Track client outcomes: Persistency, claims, affordability, and satisfaction are key indicators of success.
• Document thoroughly: Use templates and CRM tools to record advice, rationale, and ongoing reviews.
• Engage with training: Look out for updated guidance and webinars from Aviva to support your understanding.
  
  

Final thoughts

These updates are part of a broader shift towards more transparent, accountable, and client-focused protection advice. At Aviva, we’re committed to supporting advisers with the tools and insights they need to deliver great outcomes, now and in the future.

If you have questions or feedback, we’re here to help. Let’s continue working together to raise standards and build trust in protection advice.


 

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