Channel Metrics: Consumer Distribution Trends in UK Financial Services - Overview Report

Channel Metrics: Consumer Distribution Trends in UK Financial Services - Overview Report published by Finaccord Ltd. in February, 2010. This report consists of 350 Pages and the price starts from US $ 5767.

Introduction

Abstract

What is the research?

The Channel Metrics series is the most detailed and up-to-date guide to distribution trends in consumer financial services in the UK available on a published basis. It covers 28 separate retail financial products and services, giving it a unique level of detail and information on products that are ignored elsewhere.

It analyses:

• how consumers acquire these products and services - e.g. online, telephone, post or in person;
• from whom they acquire them - e.g. direct from the provider, through brokers or affinity schemes;
• how often they acquire them - i.e. how many consumers acquired a product in the last year, either for the first time or by switching provider instead of renewing or carrying on with an existing product.

Findings from this survey are compared with those from 2005 and 2007 to show trends over time. Each of the 28 products is covered by its own briefing, while an overview report features them all plus additional, comparative analysis of distribution trends. The associated data is also provided in an Excel MetricsBASE for both the overview report and briefings.

How can the research be used?

The research can be used in one or more of the following ways:

• understand in depth the distribution dynamics in retail financial services product by product;
• understand how these dynamics are changing over time, and which channels and interfaces are winning or losing for each of the 28 products and services in the study;
• quantify the approximate number of consumers likely to be open for capture by alternative distribution channels for any given year;
• assess customer loyalty by product, to be compared with your acquisition costs;
• gauge the potential of under-researched and often product-specific distribution channels such as airlines, car dealers, dentists, estate agents, loyalty schemes, social lending networks and vets;
• plan which distribution interfaces should be used for which products in the future;
• export data from the Excel MetricsBASE for your own analyses of distribution trends.

Which key questions does the research address?

Key questions addressed by the research include the following:

• how has the credit crisis affected sales and switching? Has it hurt some channels more than others?
• what is the ‘brand stretch' of commercial partners? Which products can a supermarket sell? Can automotive associations such as the AA and RAC stretch from breakdown recovery to home emergency insurance? Does the Post Office brand and branch ‘footprint' work for all products?
• is the advance of online aggregators from general insurance into banking succeeding?
• is customer loyalty increasing or decreasing? Is there a ‘ceiling' to switching rates?
• what financial products are still sold face-to-face, and is this on the decline across the board?
• what is the impact of packaged bank accounts on the distribution of products bundled with them?
• what are the distribution trends for rarely researched products such as car finance contracts, Child Trust Funds, dental insurance, extended warranties, home emergency insurance and prepaid cards?

What are some of the key findings?

1. Across all products investigated, financial advisers, brokers and aggregators plus commercial partners have increased their share of sales, at the expense of direct sales and financial partners

2. Switching rates have declined for many lending products and related insurance policies

3. Proximity to the customer gives commercial partners an advantage for selling extended warranties and various lower price, niche forms of insurance

Key findings from the Channel Metrics series in its entirety include:

• Internet sales continue to rise for motor and home insurance, and have probably not yet peaked;
• however, aggregators are not taking over the world: their share of sales for many other products has not risen since 2007;
• aggregators aside, the distribution landscape is becoming increasingly fractured:
  • many traditional distribution channels - direct providers, banks and building societies and financial advisers - have lost share of sales;
  • specialists such as automobile associations for breakdown recovery, dentists for dental insurance and vets for pet insurance have also lost share of sales in their areas of expertise;
• no single channel is replacing traditional distribution patterns;
  • instead, specific actors are prospering for specific products, such as supermarkets and retailers for cards and the worksite for health / hospital cash plans other prepaid plans.

What methodology has been used?

The Channel Metrics series is based on the results of an online survey of 2,500 consumers arranged by Tpoll Market Intelligence during November and December 2009. 1,250 respondents provided answers for each of the 28 distinct financial products and services reviewed, the breakdown of the total sample being as shown on the following page.

Table of Contents

0.0 EXECUTIVE SUMMARY

• Research background and structure
• Four of the financial products investigated are held by a majority of respondents
• High volumes of sales each year are driven by high levels of switching...
• ... although switching rates have fallen for lending products amid the credit crisis
• Face-to-face distribution remains important for banking products and related insurance...
• ... while the Internet is still increasing its share of motor and household insurance
• Though inbound telephone sales are in decline, outbound telephone sales are increasing their share
• Postal sales have dropped substantially - have they reached the bottom?
• Aggregators continue to grow general insurance sales, but have not broken through for banking
• Non-financial commercial partners have grown their share of sales, driven by specific products...
• ... but not-for-profit affinity partners have had little impact outside trade associations and unions
• Worksite distribution is strong for pensions and health-related insurance
• Banks and building societies have lost a significant share of sales both as direct providers...
• ... and as distributors of other products, outside packaged accounts

1.0 INTRODUCTION

• Research rationale
• A number of motivating factors underpin the Channel Metrics report and series of briefings
• Updating the results from the 2005 and 2007 surveys
• Analysis of consumers making an active distribution choice
• Analysis of consumers purchasing or taking out financial services in prior years
• Analysis of distribution interfaces
• Analysis of specific distribution channels
• Expanding upon the results from the 2005 and 2007 surveys
• Finaccord
• Channel Metrics briefings
• Other UK consumer research publications
• UK affinity and partnership marketing research publications
• UK small business financial services research publications

2.0 CHANNEL COMPARISONS

• Introduction
• Overall customer take-up rates, 2009
• Four products are held by more than half of all respondents
• Available customer base, 2009
• The largest markets are driven by high levels of switching, not by new customers...
• ... except for products with specific characteristics or high growth rates
• Trends in switching behaviour, 2005, 2007 and 2009
• Switching rates have fallen for lending products when compared to insurance and savings
• The credit crisis has reduced switching because lenders have ceased to chase new business...
• ... but given the chance, consumers are still becoming less loyal
• Distribution interfaces - 2009, 2007, 2005 and all previous years compared
• Overview
• Internet and outbound telephone sales are the two growing distribution interfaces
• Face-to-face environment
• Six products are taken out face-to-face by more than half of all customers
• Face-to-face distribution is becoming irrelevant for core general insurance products
• Internet
• Major insurance products and cards are taken out online by most consumers
• Personal accident and private medical insurance distribution go against this trend
• Inbound telephone
• Inbound telephone sales have a growing role in specific niches
• Outbound telephone
• Personal accident insurance is distributed by outbound calling ahead of other interfaces
• Outbound telephones sales are increasing their share of sales for 19 out of 28 products
• Post
• Will postal sales grow their share of sales in the future?
• Distribution channels - 2009, 2007, 2005 and all previous years compared
• Overview
• Distribution has shifted to online aggregators and non-financial commercial partners...
• ... squeezing commission income for banks and building societies amid the credit crisis
• Direct sales
• Savings products are dominated by the direct channel, but this has weakened a little...
• ... while direct providers are successfully fighting back for cards and travel products
• Advisers, brokers and aggregators
• Financial advisers, and loan, mortgage and insurance brokers
• Loan and mortgage brokers have increased their share of a shrinking market...
• ... while financial advisers have lost ground for core life and pensions products...
• ... and general insurance brokers' share of sales may have bottomed out
• Online aggregators
• Aggregators' strength in core general insurance products has not extended to banking
• Not-for-profit affinity groups
• Automotive clubs
• Car clubs play a limited role even in automotive-related financial services
• Charities
• Credit card sales by charities lag behind the frequency with which they offer them
• Educational institutions
• Growth in this channel comes from a very low point, and needs time to consolidate a customer base
• Professional and trade associations
• Pensions and health-related insurance are the leading products for this channel
• Trade unions
• Although active as affinity partners in many areas, the influence of trade unions is limited
• Financial partners
• Banks and building societies (acting as intermediaries)
• The credit crisis has reduced the share of business held by banks and building societies
• Packaged accounts are responsible for their high share of sales in mobile telephone insurance
• Credit card companies (acting as intermediaries)
• Niche insurance products may offer a better opportunity than mainstream but commoditized lines
• Insurance companies (acting as intermediaries)
• Insurers up-sell from their core policies rather than cross-sell unrelated financial products
• Non-financial commercial partners
• Automotive associations
• The brand strength of automotive associations has not extended to other financial services
• Car dealers and manufacturers
• Car finance contracts have been popular through this channel as other lenders have weakened...
• ... but three major car manufacturers have discontinued their co-branded credit cards
• Catalogue and other retailers
• The share of new customers of catalogue and other retailers is higher for prepaid cards than for credit cards
• Estate agents
• Mortgages are the key product for estate agents, supplemented by home insurance
• Football and other sports clubs
• A wide range of financial products are offered by clubs, but uptake of them is low
• Loyalty schemes
• Pet, accident and health insurance are the strongest areas for loyalty schemes
• Magazine, newspaper and other media entities
• A wide range of products are on offer, although only two have a significant share of sales
• The Post Office
• Travel-related products are the main areas of distribution strength of the Post Office
• Supermarkets
• An increased emphasis on financial services has not led to a greater share of sales overall...
• ... but prepaid cards and travel money are promising areas for development
• Utility (electricity, gas and water) companies
• Utilities are losing share of sales for home emergency insurance, their only significant product
• Sector-specific distribution channels
• As distribution spreads across a multitude of channels, specialists are losing their share of sales
• Travel agents and tour operators have made progress in selling annual travel insurance
• The worksite
• The worksite channel has increased its share of sales for core products since 2007
• Employer funding is more common for pensions than for protection policies

3.0 PRODUCT ANALYSIS

• Introduction
• Motor insurance
• Switching rates and brand new sales - 2009
• Switching rates are stable but high for motor insurance
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Growth in online sales is slowing, as this interface reaches saturation point
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Direct sales by insurance companies held their ground between 2007 and 2009
• Detailed analysis
• Online aggregators have taken market share at the expense of all other major channels
• Data tables
• Breakdown recovery insurance
• Switching rates and brand new sales - 2009
• The annual switching rate appears to be increasing for this form of insurance
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• The Internet is continuing to gain ground as a distribution interface
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Direct sales by automotive associations constitute a shrinking market
• Detailed analysis
• Policies packaged or bundled on a wholesale basis account for a high proportion of this market Data tables
• Extended warranties for cars
• Switching rates and brand new sales - 2009
• The switching market is nearing the same size as the new extended warranty market
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Face-to-face sales remain the most important interface for extended warranties
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Aggregators and brokers are winning market share from non-for-profit affinity groups
• Detailed analysis
• Car makers and online aggregators are the rising channels for extended warranties for cars
• Data tables
• Household insurance
• Switching rates and brand new sales - 2009
• An increase in switching has more than compensated for a drop in sales to new buyers
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• The Internet and outbound telephone sales are in the ascendant
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Financial partners' gains in household insurance were reversed between 2007 and 2009
• Detailed analysis
• Online aggregators now hold over a third of sales to switchers and new buyers
• Data tables
• Home emergency insurance
• Switching rates and brand new sales - 2009
• The annual switching rate recorded for 2009 is almost identical to that for 2005
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Patterns in interface usage are driven by different home emergency insurance formulae
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Most sales of home emergency insurance occur on an intermediated basis
• Detailed analysis
• The share of sales of electricity, gas and water companies is clearly under intense pressure
• Data tables
• Annual travel insurance
• Switching rates and brand new sales - 2009
• Annual travel insurance is characterized by a high switching rate
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Online customers are more likely to switch policy than those using other interfaces
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Packaging with added value bank accounts is a very significant feature of this market
• Detailed analysis
• The Post Office is one of the largest specific distributors of annual travel insurance
• Data tables
• Single trip travel insurance
• Switching rates and brand new sales - 2009
• Single trip travel insurance is characterized by an extremely high switching rate
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Close to three quarters of single trip travel policies are bought via the Internet...
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• ... with online insurance aggregators and brokers accounting for a significant proportion of this Detailed analysis
• Traditional affinity and corporate partners find the going tough in a fragmented market
• Data tables
• Pet insurance
• Switching rates and brand new sales - 2009
• The annual switching rate in 2009 remained little changed from 2007
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• The distribution share of postal sales has shrunk consistently over time
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• The distribution share of insurance aggregators and brokers appears to have reached a plateau
• Detailed analysis
• Distribution systems for pet insurance are becoming increasingly fragmented
• Data tables
• Mobile telephone insurance
• Switching rates and brand new sales - 2009
• The annual switching rate recorded for 2009 is similar to that for both 2005 and 2007
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Patterns in interface usage are driven in part by a shift towards wholesale distribution
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Banks, through packaged accounts, and mobile retailers and operators dominate this market
• Detailed analysis
• Packaged policies are accounting for a progressively higher market share overall
• Data tables
• Extended warranties for electrical and electronic appliances
• Switching rates and brand new sales - 2009
• Once bought, very few customers switch their warranty to an alternative provider
• Distribution interfaces - 2009, 2007 and all previous buyers compared
• Face-to-face sales remain the most important distribution interface in this market
• Distribution channels - 2009, 2007 and all previous buyers compared
• Overview
• Channels other than manufacturers and retailers command only a limited share of this sector
• Detailed analysis
• Retailers appear to be outperforming manufacturers in this market
• Data tables
• Life insurance
• Switching rates and brand new sales - 2009
• Fewer customers switch provider than take out a new life insurance policy
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Face-to-face and inbound telephone sales have declined since 2007
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Distribution has moved from direct sales to a multitude of partners, especially commercial ones
• Detailed analysis
• Life insurance distribution has fragmented, with no single channel in the ascendant
• Data tables
• Critical illness insurance
• Switching rates and brand new sales - 2009
• One consumer in seven holds critical illness insurance
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Distribution has migrated from face-to-face sales to outbound telephone sales
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Affinity and partnership channels have gained share substantially since 2007
• Detailed analysis
• The complexity of critical illness insurance has limited the growth of aggregation
• Data tables
• Private medical insurance
• Switching rates and brand new sales - 2009
• A small increase in the annual switching rate was registered for 2009
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• There is strong evidence for growth in inbound telephone sales of private medical insurance
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• The results suggest that a higher share of sales than ever is being realised through the
• worksite...
• Detailed analysis
• ... with other specific distribution channels related to employment also apparently faring well
• Funding methods for policies acquired through the worksite
• In around a half of cases, employers fund the entire cost of private medical cover themselves
• Data tables
• Dental insurance
• Switching rates and brand new sales - 2009
• New or switching customers made up over one in five of all customers in 2009
• Distribution interfaces - 2009 and all previous buyers compared
• Inbound and outbound telephone sales are moving up at the expense of face-to-face transactions
• Distribution channels - 2009 and all previous buyers compared
• Overview
• Sales of dental insurance are split among a fairly broad range of partner types
• Detailed analysis
• The distribution share of dentists appears to be under pressure from competing channels
• Funding methods for policies acquired through the worksite
• For worksite-distributed dental insurance, funding is mostly by the employees themselves
• Data tables
• Health and hospital cash plans
• Switching rates and brand new sales - 2009
• Annual switching rates are comparatively low for customers with health or hospital cash plans
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Sales split on a comparatively even basis between the five competing distribution interfaces
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Worksite marketing and other partner channels squeeze the distribution share of direct sales
• Detailed analysis
• Various types of affinity and corporate partner are active as distributors in this market
• Funding methods for policies acquired through the worksite
• Almost half of customers acquiring these policies through the worksite pay the full cost
• themselves
• Data tables
• Personal accident insurance
• Switching rates and brand new sales - 2009
• The annual switching rate recorded a minor increase in 2009
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Outbound telephone sales of personal accident insurance are growing strongly
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Excluding the worksite, sales are split quite evenly across the other five generic channels
• Detailed analysis
• Banks and building societies achieved a significant distribution share across all years surveyed
• Data tables
• Mortgages
• Switching rates and brand new sales - 2009
• Both new mortgage lending and remortgaging have fallen sharply relative to 2005 and 2007
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• The use of distribution interfaces by mortgage borrowers shows relatively little variation over time
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Prior to 2009, most mortgages were taken out directly from the ultimate lenders...
• Detailed analysis
• ... although the evidence of more recent years shows a clear shift towards mortgage brokers
• Data tables
• Mortgage payment protection insurance
• Switching rates and brand new sales - 2009
• Both switching rates and sales to new customers were lower in 2009 than in 2007
• Distribution interfaces - 2009, 2007 and all previous buyers compared
• Face-to-face sales maintain their share, while remote sales slowly migrate to the Internet
• Distribution channels - 2009, 2007 and all previous buyers compared
• Overview
• Distribution has become less concentrated, with traditional channels losing market share
• Detailed analysis
• Direct sales by insurers and online aggregators have made substantial gains in market share
• Data tables
• Personal loans
• Switching rates and brand new sales - 2009
• The general availability of personal loans has fallen sharply relative to 2005 and 2007
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Online loan sales lost ground to face-to-face distribution during 2009
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• The distribution of personal loans is largely dominated by two generic channel categories...
• Detailed analysis
• ... albeit a range of affinity and corporate partner channels also have some presence in this
• market
• Data tables
• Loan payment protection insurance
• Switching rates and brand new sales - 2009
• New sales of loan payment protection insurance have fallen dramatically
• Distribution interfaces - 2009, 2007 and all previous buyers compared
• The upselling rate for loans to loan payment protection insurance is only slightly higher face-to-face
• Distribution channels - 2009, 2007 and all previous buyers compared
• Overview
• Banks and building societies have lost market share to all other channels
• Detailed analysis
• Online aggregators now hold over a third of sales to switchers and new buyers
• Data tables
• Car finance contracts
• Switching rates and brand new sales - 2009
• New car finance contracts have fallen with the recession
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Though face-to-face sales predominate, a substantial proportion of sales are made remotely
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Traditional distribution channels have increased their share of sales
• Detailed analysis
• Car dealerships held a majority of this market in 2009
• Data tables
• Credit cards
• Switching rates and brand new sales - 2009
• Switching rates have fallen as lenders changed strategy in the recession
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Internet sales have levelled off, while the post is now the least important interface
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Non-financial commercial partners are neck-and-neck with financial partners, for the first time
• Detailed analysis
• Catalogue and other retailers distributed as many new cards as supermarkets in 2009
• Data tables
• Prepaid cards
• Switching rates and brand new sales - 2009
• New customers in 2009 outnumbered those holding a prepaid card taken out before that year
• Distribution interfaces - 2009 and all previous years compared
• The Internet accounts for a majority of sales, and has grown at the expense of inbound telesales
• Distribution channels - 2009 and all previous years compared
• Overview
• Direct sales accounted for nearly a half of cards acquired by switchers and new buyers in 2009
• Detailed analysis
• Non-financial commercial partners are much more important distributors than online
• aggregators
• Data tables
• Travel money
• Switching rates and brand new sales - 2009
• Consumers display limited loyalty to travel money providers
• Distribution interfaces in 2009
• Face-to-face transactions dominate the distribution of travel money
• Distribution channels in 2009
• Overview
• Switchers and new buyers prefer foreign exchange companies to banks and building societies
• Detailed analysis
• The Post Office is the single most important specific channel for travel money
• Data tables
• Interest-bearing savings deposits
• Switching rates and brand new sales - 2009
• Nearly a third of consumers with this product opened a savings account in 2009
• Distribution interfaces - 2009, 2007 and all previous buyers compared
• Banks and building societies have successfully pushed savings accounts away from the branch
• Distribution channels - 2009, 2007 and all previous buyers compared
• Overview
• Direct sales continue to be the most important channel for savings accounts
• Detailed analysis
• Financial advisers are holding their own against online aggregators
• Data tables
• Cash ISAs
• Switching rates and brand new sales - 2009
• Six out of ten customers who took out a new cash ISA in 2009 already held another cash ISA
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Online cash ISA sales are growing, but face-to-face distribution remains dominant
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Direct sales held their market share in 2009, after losing ground between 2005 and 2007
• Detailed analysis
• Financial advisers directed customers to cash ISAs in 2009
• Data tables
• Child Trust Funds
• Switching rates and brand new sales - 2009
• Six out of ten customers who took out a new fund in 2009 already held another Child Trust
• Fund
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Child Trust Fund sales shifted from the post to face-to-face distribution between 2007 and 2009
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Two thirds of Child Trust Funds are sold directly by a variety of financial companies
• Detailed analysis
• The Post Office has a larger market share for Child Trust Funds than for simpler savings
• products
• Data tables
• Personal and stakeholder pensions
• Switching rates and brand new sales - 2009
• More than a quarter of respondents have a personal or stakeholder pension
• Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared
• Face-to-face distribution no longer accounts for the majority of pension sales
• Distribution channels - 2009, 2007, 2005 and all previous buyers compared
• Overview
• Not-for-profit affinity groups recorded the largest gain in distribution share in 2009
• Detailed analysis
• Aggregators are gaining share from financial advisers by policies, but perhaps not by premiums
• Funding methods for pensions acquired through the worksite
• The vast majority of pensions sold via the worksite are funded jointly by employer and employee
• Data tables

4.0 APPENDIX

• Research sample and mechanics
• Research methodology and structure

GRAPHICS / TABLES

• The financial services distribution channel universe - specific distribution channels and distribution interfaces
• Overall take-up rates for 28 financial products and services, 2009
• Available customer base for 28 financial products and services, 2009
• Available customer base for 28 financial products and services (data)
• Switching rates for eight banking and related insurance products and services, 2005, 2007 and 2009
• Switching rates for 21 insurance, savings and investment products and services, 2005, 2007 and 2009
• Switching rates for 28 financial products and services, 2005, 2007 and 2009 (data)
• Analysis of distribution interfaces used for acquiring 28 financial products and services, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring 28 financial products and services, 2009 and all previous years (data)
• % of customers acquiring financial products and services face-to-face, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services by the Internet, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services by inbound telephone, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services by outbound telephone, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services by post, 2009, 2007, 2005 and all previous years compared (data)
• Analysis of generic distribution channels used for acquiring 28 financial products and services, 2009 and all previous years
• Analysis of generic distribution channels used for acquiring 28 financial products and services, 2009 and all previous years (data)
• % of customers acquiring financial products and services through direct contact with the ultimate provider, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through Financial advisers, and loan, mortgage and insurance brokers, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through online aggregators, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through automotive clubs, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through charities, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through educational institutions, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through professional and trade associations, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through trade unions, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through banks or building societies (acting as intermediaries), 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through credit card companies (acting as intermediaries), 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through insurance companies (acting as intermediaries), 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through automotive associations, 2009, 2007, 2005 and
• % of customers acquiring financial products and services through car dealers and manufacturers, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through catalogue and other retailers, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through estate agents, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through football and other sports clubs, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through loyalty schemes, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through magazine, newspaper and other media entities, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through the Post Office, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through supermarkets, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through utility (electricity, gas and water) companies, 2009, 2007, 2005 and all previous years compared (data)
• % of customers acquiring financial products and services through sector-specific distribution channels, 2009, 2007, 2005 and all previous years compared (data)
• Funding methods for worksite distribution for life, accident and health insurance and pensions, for all policies held 2009
• % of customers acquiring financial products and services through the worksite, 2009, 2007, 2005 and all previous years compared (data)
• % of consumers switching provider or acquiring motor insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring motor insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring motor insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring motor insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring motor insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring motor insurance, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring motor insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring breakdown recovery insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring breakdown recovery insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring breakdown recovery insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring breakdown recovery insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring breakdown recovery insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring breakdown recovery insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring breakdown recovery insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring an extended warranty for a car for the first time, 2009
• Analysis of distribution interfaces used for acquiring extended warranties for cars, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring extended warranties for cars, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring extended warranties for cars, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring extended warranties for cars, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring extended warranties for cars, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring extended warranty, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring household insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring household insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring household insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring household insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring household insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring household insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring household insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring home emergency insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring home emergency insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring home emergency insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring home emergency insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring home emergency insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring home emergency insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring home emergency insurance, 2009, 2007, 2005 and previous years (data)
• % of consumers switching provider or acquiring annual travel insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring annual travel insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring annual travel insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring annual travel insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring annual travel insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring annual travel insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring annual travel insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring single trip travel insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring single trip travel insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring single trip travel insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring single trip travel insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring single trip travel insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring single trip travel insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring single trip travel insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring pet insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring pet insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring pet insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring pet insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring pet insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring pet insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring pet insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring mobile telephone insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring mobile telephone insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring mobile telephone insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring mobile telephone insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring mobile telephone insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring mobile telephone insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring mobile telephone insurance, 2009, 2007, 2005 and previous years (data)
• % of consumers switching provider or acquiring an extended warranty for an electronic appliance for the first time, 2009
• Analysis of distribution interfaces used for acquiring extended warranties for electronic appliances, 2009, 2007 and all previous years
• Overview of distribution channels used for acquiring extended warranties for electronic appliances, 2009, 2007 all previous years
• Comparison of main distribution channels used for acquiring extended warranties for electronic appliances, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring extended warranties for electronic appliances, 2009, 2007, and all previous years (data)
• Overview of distribution channels used for acquiring extended warranties for electronic appliances, 2009, 2007 all previous years (data)
• Detailed analysis of distribution channels used for acquiring extended warranties for electronic appliances, 2009, 2007 and all previous years (data)
• % of consumers switching provider or acquiring life insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring life insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring life insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring life insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring life insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring life insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring life insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring critical illness insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring critical illness insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring critical illness insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring critical illness insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring critical illness insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring critical illness insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring critical illness insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring private medical insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring private medical insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring private medical insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring private medical insurance, 2009 and all previous years
• % split of funding methods for private medical insurance acquired through the worksite in any year
• Analysis of distribution interfaces used for acquiring private medical insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring private medical insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring private medical insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring dental insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring dental insurance, 2009 and all previous years
• Overview of distribution channels used for acquiring dental insurance, 2009 and all previous years
• Comparison of main distribution channels used for acquiring dental insurance, 2009 and all previous years
• % split of funding methods for dental insurance acquired through the worksite in any year
• Analysis of distribution interfaces used for acquiring dental insurance, 2009 and all previous years (data)
• Overview of distribution channels used for acquiring dental insurance, 2009 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring dental insurance, 2009 and all previous years (data)
• % of consumers switching provider or acquiring a health or hospital cash plan for the first time, 2009
• Analysis of distribution interfaces used for acquiring health or hospital cash plans, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring health and hospital cash plans, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring health and hospital cash plans, 2009 and all previous years
• % split of funding methods for health or hospital cash plans acquired through the worksite in any year
• Analysis of distribution interfaces used for acquiring health and hospital cash plans, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring health and hospital cash plans, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring health and hospital cash plans, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring personal accident insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring personal accident insurance, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring personal accident insurance, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring personal accident insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring personal accident insurance, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring personal accident insurance, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring personal accident insurance, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring a mortgage for the first time, 2009
• Analysis of distribution interfaces used for acquiring mortgages, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring mortgages, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring mortgages, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring mortgages, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring mortgages, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring mortgages, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring mortgage payment protection insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring mortgage payment protection insurance, 2009, 2007 and all previous years
• Overview of distribution channels used for acquiring mortgage payment protection insurance, 2009, 2007 and all previous years
• Comparison of main distribution channels used for acquiring mortgage payment protection insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring mortgage payment protection insurance, 2009, 2007 and all previous years (data)
• Overview of distribution channels used for acquiring mortgage payment protection insurance, 2009, 2007 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring mortgage payment protection insurance, 2009, 2007 and all previous years (data)
• % of consumers switching provider or acquiring a personal loan for the first time, 2009
• Analysis of distribution interfaces used for acquiring personal loans, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring personal loans, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring personal loans, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring personal loans, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring personal loans, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring personal loans, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring loan payment protection insurance for the first time, 2009
• Analysis of distribution interfaces used for acquiring loan payment protection insurance, 2009, 2007 and all previous years
• Overview of distribution channels used for acquiring loan payment protection insurance, 2009, 2007 and all previous years
• Comparison of main distribution channels used for acquiring loan payment protection insurance, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring loan payment protection insurance, 2009, 2007 and all previous years (data)
• Overview of distribution channels used for acquiring loan payment protection insurance, 2009, 2007 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring loan payment protection insurance, 2009, 2007 and all previous years (data)
• % of consumers switching provider or acquiring car finance contracts for the first time, 2009
• Analysis of distribution interfaces used for acquiring car finance contracts, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring car finance contracts, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring car finance contracts, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring car finance contracts, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring car finance contracts, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring car finance contracts, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring credit cards for the first time, 2009
• Analysis of distribution interfaces used for acquiring credit cards, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring credit cards, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring credit cards, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring credit cards, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring credit cards, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring credit cards, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring prepaid cards for the first time, 2009
• Analysis of distribution interfaces used for acquiring prepaid cards, 2009 and all previous years
• Overview of distribution channels used for acquiring prepaid cards, 2009 and all previous years
• Comparison of main distribution channels used for acquiring prepaid cards, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring prepaid cards, 2009 and all previous years (data)
• Overview of distribution channels used for acquiring prepaid cards, 2009 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring prepaid cards, 2009 (data)
• % of consumers switching provider or acquiring travel money for the first time, 2009
• Analysis of distribution interfaces used for acquiring travel money, 2009
• Overview of distribution channels used for acquiring travel money, 2009
• Comparison of main distribution channels used for acquiring travel money, 2009
• Analysis of distribution interfaces used for acquiring travel money, 2009 (data)
• Overview of distribution channels used for acquiring travel money, 2009 (data)
• Detailed analysis of distribution channels used for acquiring travel money, 2009 (data)
• % of consumers switching provider or acquiring interest-bearing savings deposits for the first time, 2009
• Analysis of distribution interfaces used for acquiring interest-bearing savings deposits, 2009, 2007 and all previous years
• Overview of distribution channels used for acquiring interest-bearing savings deposits, 2009, 2007 and all previous years
• Comparison of main distribution channels used for acquiring interest-bearing savings deposits, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring interest-bearing savings deposits, 2009, 2007 and all previous years (data)
• Overview of distribution channels used for acquiring interest-bearing savings deposits, 2009, 2007 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring interest-bearing savings deposits, 2009, 2007 and all previous years (data)
• % of consumers switching provider or acquiring cash ISAs for the first time, 2009
• Analysis of distribution interfaces used for acquiring cash ISAs, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring cash ISAs, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring cash ISAs, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring cash ISAs, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring cash ISAs, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring cash ISAs, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring Child Trust Funds for the first time, 2009
• Analysis of distribution interfaces used for acquiring Child Trust Funds, 2009, 2007, 2005 and all previous years
• Overview of distribution channels used for acquiring Child Trust Funds, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring Child Trust Funds, 2009 and all previous years
• Analysis of distribution interfaces used for acquiring Child Trust Funds, 2009, 2007, 2005 and all previous years (data)
• Overview of distribution channels used for acquiring Child Trust Funds, 2009, 2007, 2005 and all previous years (data)
• Detailed analysis of distribution channels used for acquiring Child Trust Funds, 2009, 2007, 2005 and all previous years (data)
• % of consumers switching provider or acquiring personal and stakeholder pensions for the first time, 2009
• Analysis of distribution interfaces used for acquiring personal and stakeholder pensions, 2009, 2007, 2005 andall previous years
• Overview of distribution channels used for acquiring personal and stakeholder pensions, 2009, 2007, 2005 and all previous years
• Comparison of main distribution channels used for acquiring personal and stakeholder pensions, 2009 and all previous years
• % split of funding methods for personal and stakeholder pensions acquired through the worksite in any year
• Analysis of distribution interfaces used for acquiring personal and stakeholder pensions, 2009, 2007, 2005 and previous years (data)
• Overview of distribution channels used for acquiring personal and stakeholder pensions, 2009, 2007, 2005 and previous years (data)
• Detailed analysis of distribution channels used for acquiring personal and stakeholder pensions, 2009, 2007, 2005 and all previous years (data)
• Sample breakdown by age group, household income band and geographical location

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