According to findings from Paymentshield’s annual Adviser Survey, less than half (49%) of financial advisers are sometimes missing opportunities to sell general insurance. This figure has fallen each year from the 61% reported in 2020 – the first year of the survey. Paymentshield said the ongoing drop reflected the growing importance of general insurance for financial advisers.

Louise Pengelly, proposition director at Paymentshield, said: “We’re definitely seeing a positive upward trend for GI. This is likely down to a combination of push and pull factors. The introduction of the Consumer Duty is perhaps resulting in advisers thinking more about home insurance as part of the services they offer to deliver good outcomes for customers.

“The other thing to consider is technology developments, in particular the recent growth of referral services, which are pulling more advisers in to offering GI and which we expect to become increasingly popular.”