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Just 3% of life and pensions sold online

Less than 3 per cent of life and pension transactions are conducted online, even though providers are predicting rapid take-up of online services by IFAs.

Research from Focus Solutions, covering 60 per cent of the life and pension sector, shows that online transactions now account for only 2.8 per cent of business, yet providers&#39 targets across the sector average take-up of 80 per cent by 2007.

To monitor progress of e-commerce take-up, Focus is establishing a benchmark – Focus Quotient – that will measure growth in electronic transactions.

The Focus research also shows that IFAs prefer transacting business over life companies&#39 extranets, with 78 per cent of e-business currently going direct to extranets. Focus predicts that portals will reg-ain ground and expects that they will account for 26 per cent of e-trading by 2006.

Director of marketing Claire Forrest says: “The industry as a whole needs to promote electronic trading. Life and pension companies, IFAs, portals and technology providers all need to actively address the issues surrounding electronic transactions. The increased use of electronic trading in a wider range of channels to market, such as extranets and call centres, will also help serve the consumer.”

Syndaxi partner Robert Reid says: “Electronic trading must increase until it becomes the norm.”


Keydata Investment Services – Extra Income Plan

Tuesday, 10 September 2002 Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £7,000-no maximum Term: Five years Guarantee: Capital returned in full at end of term provided the index does not fall by more than 40%, or if the index does fall by more than 40% […]

Ninth life for Irish bond

Irish Life International has introduced the secured growth bond 9, a guaranteed equity bond that is linked to the performance of the FTSE Eurotop index over a five-year term. The FTSE Eurotop Index consists of 100 of the largest companies in Europe, including Abbey National, Volkswagen and Swedish clothing retailer Hennes &Mauritz. Investors can choose […]

Closing bonus as online bank becomes a casualty

Zurich Bank, the online service set up by Zurich Financial Services in January, closed to new business last week and will shut down completely in spring 2003.It claims the launch into internet banking in a joint venture with HBoS was “highly successful” but ZFS has decided to focus on its core insurance business after the […]

Pegrum leaves M&G

M&G has lost its British Opportunities fund manager Neil Pegrum, who is understood to be moving to Insight Investment.Pegrum will be replaced by Tom Dobell, currently manager of M&G&#39s recovery fund.

Leading Edge June – Investment panel debate

RLAM’s asset class specialists discuss some of the findings from the panel session at our recent Investment Conference. By Rob Williams, Head of Distribution Welcome to the latest edition of Leading Edge. It has been an eventful six months since the last e-zine. The European Central Bank announced ongoing stimulus measures, while the immigration crisis in Europe threw the […]


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