The TCF initiative, depolarization and changing consumer preferences are having a major impact on the bancassurance channel. Datamonitor has conducted in-depth interviews with leading figures in the industry to gather unique insight into the strategies of the key players and the probable future shape of the market.
Scope of this report
- Interviews with senior individuals within the distribution and provider sides of the market underpin in-depth analysis of the effect of TCF
- Five product categories are examined: single and annual premium life, single and annual premium pensions and retail sales of unit trusts and OEICs
- Provides forecasts for distribution, focusing on the proportion of new business that will come through the new multi-tied channels.
- Historic data from the ABI and IMA is used to size the market and the main distribution channels in the UK.
Research and analysis highlights
Datamonitor forecasts that the market share held by bancassurance will not increase significantly enough to challenge that of IFAs between 2005 and 2009f, however after IFAs bancassurance will remain the largest distribution channel.
TCF will require banks to re-evaluate every area of business, although Datamonitor believes that many can become compliant without making major system changes
Regulatory change is having a large effect on life and pensions distribution. In particular depolarization is changing the traditional business model of at least one major distributor
Key reasons to read this report
- Offers unique insight from experts in all areas of the market at this critical period of change and strategy development
- Reveals key factors for success that banks must fulfil in order to deal efficiently and effectively with the TCF initiative
- Estimates how the multi-tie market will potentially grow over the next four years
An examination of the UK Bancassurance market. The report looks at what products are sold through this distribution channel, who the largest players are, the factors that are shaping the market.