Industry News - January, 2008

Financial services marketing for women could be key to coping with "financially overweight" consumers.

Research by ICM for Abbey reveals that the financially fittest region in the UK is Wales and the South West, where a meagre 42 per cent are overweight.

The research also shows that one third of women do not have a mortgage at a competitive rate and 70 per cent have either no savings or only enough to maintain their living standard for three months.

According... more...

It is "vital" to ensure a good brand presence on the internet for insurers, one industry expert has revealed.

According to motorbike insurer Bennetts' associate director of marketing, Mark Fells, it is just as important to complement branding with appealing embedded offerings.

He told Precision Marketing: "The internet is often the first port of call for those seeking to renew their insurance, so it's vital to ensure a strong brand presence."

One wa... more...

The importance of selling Mortgage Payment Protection Insurance (MPPI) to the right consumers has been underlined by Belgravia Insurance Consultants.

Research by the Association of British Insurers in 2006 revealed that around 20 per cent of households had MPPI.

However, Paul White of Belgravia Insurance Consultants explained that while it is "very important", in many cases it was being marketed and sold to the wrong people.

"It's very important for the ... more...

Sending "relevant emails" is the key to direct marketing for businesses such as legal service marketers, one industry expert has suggested.

For firms to send out emails to companies or individuals who have "not opted in" to receive them is spam and is both "foolhardy" and "illegal", according to head of research at E-consultancy, Linus Gregoriadis.

Business Link states that regulations require marketers to ensure sole trader and recipient... more...

Lenders could be encouraged to increase their loans marketing, with research revealing that consumers can save up to £830 in interest by opting for a best buy loan deal.

According to uSwitch.com, switching to a best buy deal halfway through a loan period could save around £185 over five years on a £8,000 loan.

Mike Naylor, personal finance expert at the price comparison site explains that five years is a long time to spend with one lender in such a "volatile... more...

Financial services providers will now be able to widen their marketing scope, following the launch of the new Single Euro Payments Area (SEPA) scheme today (January 28th 2008).

The SEPA Credit transfer (SCT) scheme enables customers to send and receive automated payments across EU borders, making cross border trade easier and more efficient.

However, UK lenders have been slow to sign up to the scheme, according to KPMG priniciple adviser, Sam Subesinghe.

He told Manage... more...

A new legal expenses product for small to medium-sized enterprises (SMEs) looks set for success.

Under the new scheme, provided by Composite Legal Expenses and Insured Risks, premiums are offered as a percentage of the commercial insurance premiums to make them more affordable, reports the Insurance Times.

Insured Risk's managing director, Paul Brock told the newspaper that the product provides SME's with a necessary product that is not "unaffordable".

He sai... more...

Nine out of ten financial advisers are expecting the financial market to remain turbulent over the next few months, research has revealed.

Marketing for financial advisers could therefore be the difference between success and survival over the coming months as consumers begin to select the financial medicine to cure monetary ills.

According to a survey by LV=, 79 per cent of advisers expect investments to grow in importance in their business over the next five years.

M... more...