Life Insurance  

G-Day prompts surge in quotes

According to iPipeline, the firm’s intermediary quote portal, adviser quote volumes in the build up to G-day, on 21 December, jumped markedly.

Comparing comparison quote requests and the number of advisers using the system for November 2011 and November 2012, annuities and whole of life saw the biggest increase.

 

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Service

Year-on-year growth (November 2011/2012)

Comparison Requests

Users

Annuities

+68%

+29%

Whole of life

+72%

+41%

Term and CI

+17%

+7%

 

Mark Wilson, director of sales and marketing for Assureweb, said the company received 786 new business applications on 20 December – more than any other day since Assureweb launched in 1995.

Mr Wilson added: “We believe the increases were largely down to the EU gender directive but may have also been affected by the RDR regulations.”

Adviser comment:

Roy McLoughlin, principal for London-based Master Adviser, said: “I’m not surprised. Everyone wanted to be ahead of G-Day. Maybe people were curious whether the rumours of price increases were correct. Maybe there will be a lull over the next three months after people rushed to buy last year.”