Firms' future service is key
Sandy Dunn, Chairman and Chief Executive of BDML Connect, raised the issue of online distribution and the need to add value to insurance products, especially as consumers are increasingly expecting high-quality products with the minimum of purchasing effort. He predicted that advances in technology, such as face-to-face contact over the web, will further increase the emphasis on service standards.
Lee Gladwell, Group Sales and Marketing Director at the Chartered Insurance Institute, suggested the market would divide into commodity products. He said "product champions" would serve the direct-sales market while advisers would pursue greater professionalism, with qualifications playing an increasingly significant role.
Source: Post Magazine
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