Research and Markets announced the addition of an UK “Direct Insurance Market Report 2007” to their offering.
The research firm’s bulletin noted that direct insurance has increasingly become the “preferred method used by large financial services companies to deliver personal-lines general insurance.
“Before the arrival of direct-distribution models, insurance brokers and other intermediaries formed the main distribution channels for personal-lines insurance. This still applies to commercial lines, but personal-lines direct insurance is rapidly taking market share.
“Direct Line set up the first dedicated direct insurance operation in the UK in 1985. The market share taken by direct players has increased steadily ever since, partly at the expense of companies’ own sales staff and agents, and partly at the expense of intermediaries. This trend has intensified since 1999, when retailers also entered the market.
“The obvious success of direct insurance companies prompted traditional insurance players to set up their own distinct direct insurance brands. New entrants have also been attracted to the direct insurance market, as a result of the lower operating costs made possible by call-center and Internet-based operations. The new entrants include utilities, retailers and affinity groups.”
For more information go to: http://www.researchandmarkets.com/reports/c59311; or contact: Research and Markets, Laura Wood Senior Manager Fax: +353 1 4100 980, or via e-mail at: press@researchandmarkets.com.
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