IRESS's online comparison quote and transaction portal, The Exchange, recorded 187,933 new protection business applications in the first quarter of 2018 - a 20.5% increase on the 155,946 seen in the same period in 2017.
Measured by click-through rates from The Exchange to provider applications, the data indicates a record-breaking quarter with a monthly average of 62,644 new business protection applications compared to the 51,744 figure for Q3 2017 - the highest monthly average previously - an increase of over 21%. Top three Multi benefit products saw the sharpest increase for Q1 2018 when compared to Q1 2017, with a 40% rise in new business applications. Life term insurance was the second biggest, with 30% upturn in sales for the first quarter of 2018. Income protection (15% increase compared to ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
