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UK Bancassurance: Bank Distribution of Life and General Insurance 2011
Datamonitor, Dec 2011, Pages: 62
Bancassurers are facing major decisions in terms of reacting to an increasingly changing regulatory environment and choosing the best bancassurance model from the extremes of 'pure distribution' to 'manufacture and underwrite.'
Scope:
- Access comprehensive analysis and strategic action points for the UK bancassurance market to drive future innovation.
- Plan your strategy effectively by having primary consumer insight to consumer attitudes towards using banks when seeking financial advice.
- Identify the threats to your bancassurance model from non-traditional channels.
Highlights:
- The Financial Services Consumer Insight (FSCI) Survey 2011 highlights how UK consumers typically ignore bancassurers and instead utilize intermediaries or go direct through a life or general insurance provider when taking out a policy.
- Consumers use their primary bank when seeking financial advice, and intend to utilize this channel for their future financial advice requirements. However, The FSCI 2011 Survey reveals that banks suffer from a distinct lack of cross-selling abilities.
Reasons to buy:
- Will bancassurers take away market share from IFAs in the distribution of protection products over the next five years?
- Which bank is more successful than its peers at cross-selling insurance products to their primary account holders?
- What proportion of UK consumers intend to use their primary bank when seeking financial advice in the future?
- What strategic action can be taken to address the problems posed by capital constraints through regulation for retail banks?
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