View more on these topics

Euro life office chief executives split on internet as business conduit

More than a third of major European life office chief executives believe the internet will not be an efficient way of doing business, according to a survey by Tillinghast-Towers Perrin.

The pan-European survey found that 40 per cent of chief executive officers from Europe&#39s leading life offices believe the internet will only be useful as an information channel. But 60 per cent believe the internet will develop intoa new business channel.

The consultancy says the main challenges facing the industry in the future are distribution effectiveness, the changing market, the need for consumer information and technology management.

Almost all the chief executives say market consolidation will increase but few admit it is one of their main strategies.

Less than a third say increasing competition concerns them.

Other findings in the survey include 77 per cent agreeing brand name will become increasingly important. They say non-traditional competitors such as banks will pose the greatest threat to life offices.

Tillinghast Towers Perrin head of strategy economics and principal Andy Cherkas says: “What we have here is an industry preoccupied with the need to open up more channels to the consumer, and looking to IT as the magic tool to do that.

“Many companies want to be multi-channel, multi-product providers.”

Recommended

Reasons why not letter encroaches on IFA territory

The stakeholder pension may not be compulsory for the public to buy but the FSA is determined to make it as good as compulsory for IFAs to sell.The high-flying directors of the FSA must realise the stakeholder pension is not infallible. But in consultation paper 61, the proposed reasons why not letter looks set to […]

We challenge the FSA to reveal recommendation

Money Marketing&#39s Poles Apart campaign is demanding that the FSA goes public with its recommendation to the Treasury on polarisation, amid fears it will refuse to do so.The regulator has not decided whether to confirm it will go public, provoking a furious reaction from IFA leaders.The row comes as Treasury economic secretary Melanie Johnson has […]

Pension credit plan is boost for stakeholder

The Government has given stakeholder a major boost by allaying fears that savers would be penalised by the minimum income guarantee.The move means the stakeholder target group – those earning between £9,500 to £21,600 – can save without fear of being punished for prudence.On Monday, Social Security Secretary Alistair Darling unveiled plans to reward people […]

Two technology funds will track Euro indices

Close and Themis Fund Management are both to launch new European technology tracker funds next month.The Close fund will track the FTSE eTX euro 50, a new index to be launched by FTSE on October 2. The index, which will only consist of companies from the Eurozone, is part ofa family of new FTSE Euro-pean […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com