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Brokers believe their futures depend on e-commerce according to NU

Brokers who do not embrace the potential of e-commerce will fail according to technically astute intermediaries in a Norwich Union poll of 400 intermediaries.

“Techno savvy” brokers are now the UK broker market&#39s dominant group, making up 31 per cent of intermediaries, according to the research. NU reveals intermediaries feel technology plays an important role, and those who do not harness its potential may encounter problems in the future.

The research also identified three other principal group types in UK broking. Firstly, 26 per cent of the intermediaries polled fell into the “corner shop” category, wanting to maintain a personal touch. Secondly, the “fading families” group makes up 23 per cent and are the most pessimistic, seeing threats from all directions. Lastly, 20 per cent fall into the category “old pros” – those intermediaries who appear to have no fear of the increasing diversity of insurance providers or advances in technology.

NU intermediary business director Ken Wallace says: “It appears most agree that technology will play an important part in the offering to customers and those who refuse to embrace it will struggle.”


Coventry offers mortgage with an unsecured loan

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Sesame deal for directly regulated advisers

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Skandia is top supermarket

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U-turn on cap but Standard says it&#39s still unworkable

The Government has bowed to industry pressure on stakeholder pensions and raised the price cap to 1.5 per cent for the first 10 years and then reverting to 1 per cent. The Treasury claims it has struck a balance between the needs of the industry and consumers but providers say they are still reticent about […]


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