Experts in European Financial Services

Experts in European Financial Services

UK BRIEFINGS AND REPORT:

Channel Metrics: Trends in Consumer Distribution Channel Usage in UK Financial Services

Price £395 (single briefing), £2,995 (overview report)

 

Channel Metrics is a series of 25 briefings and an overview report based on original consumer research with a total sample of 3,600 respondents investigating trends in consumer distribution channel usage in UK financial services. In addition to gathering data for overall take-up rates and annual churn rates across the various financial products and services considered, the research also yields results regarding the distribution interface and specific distribution channel used to purchase or take out the same financial services during 2007. Moreover, with a view to understanding how distribution dynamics are changing, this data is compared with the results from the original Channel Metrics survey in 2005 as well as the choices made by customers in all years prior to 2007.

In order to provide clear insights into the subject, this analysis of distribution interfaces and channels incorporates only the responses of consumers making an active choice of distribution channels during the period in question. Consumers making or intending to make an active choice are defined as those who switch provider for a given financial product or service during the time frame under review or those buying the product or service having not held it during the previous year, thereby excluding respondents who merely remain with the same provider. As such, the Channel Metrics series constitutes the most detailed and up-to-date guide to distribution trends in consumer financial services in the UK available on a published basis.

Key questions addressed by the research include the following:

- what is the rate of progress of the Internet as a distribution interface and web-based brokers and intermediaries as a specific distribution channel and how does this vary from product to product?

- for which financial products and services does there appear to be a consistent requirement on the part of consumers for face-to-face interaction?

- to what extent are banks and building societies defending their market share for insurance products that they distribute on an intermediated basis?

- what impact are commercial partners such as loyalty schemes, the Post Office, supermarkets and other retailers having on the distribution systems used for consumer financial services?

- what are the distribution trends for rarely researched niche financial products such as car finance contracts, Child Trust Funds, dental insurance, extended warranties for electronic appliances and home emergency insurance?

Overall, the Channel Metrics series offers detailed and unique insights into current and future trends in distribution channel usage across 25 distinct financial products and services - with a dedicated briefing having been produced for each - as follows:

Car and home

Motor insurance
Breakdown recovery insurance
Extended warranties (for cars)
Household insurance
Home emergency insurance

Life and health

Life insurance
Critical illness insurance
Private medical insurance
Dental insurance
Health / hospital cash plans
Personal accident insurance

Loans and related insurance

Mortgages
Mortgage payment protection insurance
Personal loans
Loan payment protection insurance
Car finance contracts
Credit cards

Niche insurance

Travel insurance
Pet insurance
Mobile telephone insurance
Extended warranties (for electronic appliances)

Savings and investments

Interest-bearing savings deposits
Cash ISAs
Child Trust Funds
Personal / stakeholder pensions

Channel Metrics: Trends in Consumer Distribution Channel Usage in UK Financial Services is based on the results of an on-line survey of c. 3,800 consumers arranged by Tpoll Direct, the market research division of Interactive Prospect Targeting (IPT), during November and December 2007.

Table of Contents (overview report) | Table of Contents (single standardised briefing *) | Report Prospectus (series)

* Please note that the structure of each of the 25 briefings is identical. Hence, the sample table of contents provided on this page (for dental insurance) is virtually identical to that for each of the other 24 financial products and services covered in the Finaccord / TPoll Direct Channel Metrics series.

 

 
Experts in European Financial Services
 
 
Finaccord, Belsize Business Centre, 258 Belsize Road, London, NW6 4BT
Tel: +44 20 7316 1864. Fax +44 20 7624 3629.
E-mail: info@finaccord.com Website: www.finaccord.com
© 2007 Finaccord Ltd.
All rights reserved
 
 
 

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