Word of mouth is most effective in securing new Private Medical Insurance (PMI) business for IFAs, according to National Friendly.
A consumer survey conducted by the health insurer found 55% of people looking at buying PMI, choose their IFA based on the recommendations of a friend, colleague or legal professional. In comparison, only 8% of people select an IFA after seeing an advertisement, and just 2% of people are influenced by a marketing promotion. In addition, 78% would prefer to receive guidance from an IFA in person, as opposed to over the phone or by post or email. The statistics show that, when purchasing PMI, customers are looking for trustworthy advice from a person who they can speak to directly and disc...
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