Abstract
Overview
Introduction
An examination of the UK life and pensions distribution landscape. The report
looks at what products are sold, through which distribution channels, who the
largest players are, and the factors that are shaping the market.
Scope
- Historic data from the ABI and IMA is given to size the UK market and its
key distribution channels, focusing on financial advisors and bancassurers
- Five product categories are examined: single and regular premium life,
single and regular premium pensions and retail sales of unit trusts and OEICs
- The analysis is underpinned by in-depth interviews with a number of senior
executives from both the distribution and provider sides of the market
- forecasts for the future of distribution channels are given, with
predictions for the multi-tie share of the market across product areas
Report Highlights
Despite fears about the potential rise of bancassurers, IFAs remain by far the
most important distribution channel for life and pensions products in the UK.
However, bancassurers have gained some market share in recent years.
Depolarization has not had the effect predicted by the FSA at its inception.
Instead of a radical shift, post-depolarization developments indicate a rather
gradual transition to a new market segmentation.
Although multi-tie advisors are predicted to a rise in their market share from
4% in 2006 to 8.5% in 2010, only 2% of this will be at the expense of the IFA
channel, whose market share will remain relatively constant at around 66.5%.
Reasons to Purchase
- Use competitor opinion to gain an insight into the key areas and trends in
the UK life and pensions market
- Identify the market opportunities and pressures that are currently
impacting the different distribution channels
- Understand how the various distribution channels and multi-tie
propositions will develop over the next five years
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