Life insurance being sold online

Tue, 09 Oct 2007

According to a recent report by a financial services council, the internet is swiftly becoming the most popular place for UK consumers to purchase insurance products. Some 50 per cent are now using the internet to find policies such as life insurance and health insurance .

The report also found out the reasons why. Consumers view buying online to be cheaper than purchasing from a bank, building society, or financial adviser . The conclusions were drawn from research conducted by the DMA Financial Services Council.

The chair of the council, Eric Austin, reportedly commented: "Use of the internet as a tool for both researching and buying products is predictably high. Price is a key trigger in the purchase pattern. Although understandable, it is clearly important that consumers are also aware of their cover included and any exclusions. Overall, this research provides great insight into consumer behaviour and show that targeting and relevance of offer will continue to be key drivers."
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