Europe Research

Upcoming Report: Life on the Line
Contact: Chris Heath
With the costs of selling financial services through face-to-face methods becoming prohibitive, the Internet appears to hold one of the keys to the future.

Japan has the second highest number of Internet users after the US and is already experiencing a dramatic change in purchasing behaviour, particularly amongst under 30’s. Elsewhere the Internet has become a research tool for consumers trying to gauge their needs or the companies and offerings that might satisfy those needs. But research suggests that already, half of those who use the Net to carry out their research, eventually buy on-line.

LIMRA’s report will investigate this fast changing trend and explore current developments and possible future directions for financial services sales channels that will be created in Cyberspace.
(upcoming in 2009)

Springboard to the Future
Contact: Brian Eves, Chris Heath
This study looks at the future state of UK financial services and tries to predict where it will be in 2012. Four major issues have been identified that LIMRA thinks will shape UK financial services over the next five years. These are the UK economy, saving and spending, retirement, and health care. From this we posit four scenarios for 2012: The Technology Dividend, A Nation Relying on Property, The New Consumer, and Green is the New Black.
(2008)

Agent Productivity and Retention
Contact: Nicola Moss
This study will allow companies to benchmark their performance against that of their peers. It will also create a model agency, enabling companies to see the impact of changes in the profile of the sales force.
(2008)

Upcoming Report: Broker Opinion Survey (Ireland)
Contact: Nicola Moss
This annual survey will look at how Irish brokers view the financial services companies with which they work, giving those companies valuable insight into how they can optimize their relationship with brokers.
(2009)

The Success of Bancassurance Across Europe
Contact: Nicola Moss
There is great diversity in the success of bancassurance in Europe. In some markets, such as France and Spain, it dominates; whereas in others such as the UK, strict regulations against mis-selling on long-term products work to the advantage of brokers that can provide the necessary advice. A broad range of different business models fall under the 'bancassurance' banner. However, no model has proved universally successful and there are examples of success among all models highlighted. For the purposes of this report bancassurance is defined as any level of co-operation between banks and life insurance companies in selling their products to their target customers.
(2007)

Distribution Trends Across Europe, Africa, and the Middle East
Contact: Nicola Moss
As recently as 10 years ago, insurance channels could be classified as either "direct" or "intermediary"; but this has changed with the emergence of the Internet, the bancassurance model, and alternative mediums of reaching customers, such as retail stores. LIMRA Europe surveyed its members to find out the distribution challenges for their markets. This report gives some background information on 15 markets and summarises the responses received from members.
(2007)

The Problem of Persistency – New Business Lapses in UK Insurance
Contact: Brian Eves
Churning has become topical as the industry has become increasingly aware of the un-sustainability of the practice. This is in no small measure due to industry analyst Ned Cazalet, who has been warning for some time of the unreality of much of the UK life and pension companies’ new business figures. This report considers the industry’s response to this warning and looks at how companies are dealing with the problem.
(2007)

Safeguarding Life and Income: Consumers, Protection Products and the Future
Contact: Brian Eves
Protection products are a difficult sell. It is bought and not sold for many good reasons. Consumers are prepared to bet on immortality rather than face up to their insurance needs. As an example, Co-operative Insurance Services recently calculated that nearly half of the UK population lack any form of protection insurance. This isn’t a protection gap — it is more of a chasm. This report looks at consumer attitudes to buying life insurance and the role of technology in the future.
(2007)

Is the UK a Predictor For the Future Elsewhere?
Contact: Nicola Moss
This report provides an industry overview of the UK during the past 20 years and addresses issues such as regulation, strategy, and consumers.
(2006)

The Trillion Pound Market — Opportunities in UK Bulk Annuities
Contact: Brian Eves
Bulk purchase annuities occur when the pension liabilities of a company are bought out completely and replaced by annuities issued by a life office. They are designed to switch all of the risks from an employer’s pension scheme to their chosen life office.

This report looks at the size of the market, what is driving the market and the current and future players.
(2006)

Flight to the Future
Contact: Chris Heath
This study looks at the issue of change management and best practices in change management.
(2005)

Wrap Platforms — How Should You Respond?
Contact: Chris Heath
This report highlights LIMRA Europe’s main recommendations for the four key stakeholders involved in wrap offerings. The focus is on the most developed wrap markets: Germany, France, and the United Kingdom.
(2005)

10 Reasons for the Growth of Independent Financial Advice in Europe
Contact: Chris Heath
This comprehensive report looks at the success of broker distribution throughout Europe and Africa. It analyzes what determines the success or lack of success of this channel and provides best practices in relationships between financial services companies and brokers.
(2005)