Focus finds brokers coping with high-tech

Amanda Jarvis

January 27, 2006

The survey was undertaken to determine the impact of depolarisation on the UK intermediary community – 12 months on.

According to the survey, it appears that through the increased use and acceptance of technology by both intermediary organisations and the consumer, intermediaries are confident they can face further challenges in the future.

Previous research found that technology was perceived as a barrier between the adviser and the client but it seems intermediaries now have more confidence, both in the performance and their use of technology.

63 per cent of brokers indicated their preferred method of working is to transact electronic new business online, in the presence of their client, whilst working within their office environment. The research also revealed that the majority of intermediaries favoured the IFA portal over the IFA extranet for accessing quotations and vice versa for transacting electronic new business.

Nigel Smith, director of market propositions at Focus, said: “The results from the Focus survey demonstrate both the provider and intermediary sectors have a more positive outlook on what the future holds as we move into the second year operating within a depolarised environment.

“Many of the providers have invested significantly over the past 12 months in the creation of new multi-tie organisations and technology solutions to support their new distribution channels. We look forward to tracking their progress over the next 12 months and the growth in electronic business the new organisations are expected to bring.”

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