News Article Published:
Friday, 14 December 2007
Category:
Insurance
The market for life insurance is "very competitive", according to financial adviser Libra Financial Planning.
That said, telemarketing can be a "very effective" way to target the correct customers, a spokesperson for the Chartered Institute of Marketing (CIM) explained.
According to Prudential, the UK life insurance market was the largest in Europe and is the third largest in the world in 2004.
There have been approximately £105 billion net premiums written and, although Libra described the market as "quite strong", insurers tend to offer a sophisticated range of products that make penetration a challenge.
A spokesperson for CIM, explained: "Telesales are still very, very effective, providing you're focused and you've got good information, and you're not wasting people's time.
"Every company needs to examine its own situation and its own product. If you're going to undertake a large [telemarketing] exercise, it's always good to seek professional advice."
<< back to latest industry news