Personal lines brokers in resurgence: Defaqto

Defaqto predicts rise in personal lines brokers

Advertising

Personal lines brokers are set for a comeback thanks to aggregators, says financial research company Defaqto.

Despite much being written about their demise over the past ten years, the report says savvy brokers can ensure a significant amount of car insurance business through aggregator's sites.

Brokers with online capabilities to provide car insurance quotations were starting to appear on aggregator sites in October 2007, according to Defaqto research.

It added that this had significantly increased, with new sites launching and a number of broker quotations appearing on the majority of aggregator sites.

Mike Powell, consultant at Defaqto, said: "The broker is still a major player in the insurance industry, with resurgence in the car insurance market through aggregators becoming more prominent."

He added: "Although commercial insurance is still regarded as an intermediated form of insurance, competition in the form of direct writers is now here and likely to intensify."



Income Release From Scottish Life

Our fully integrated income drawdown facility lets your clients take income or a lump sum how and when they want, without retiring.

To read more click here


FTAdviser  Jobs  RSS