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How customers purchase products

The relative simplicity of some household insurance products means that consumers are more likely to purchase them directly, than long term savings products.

Over half of motor insurance (52%), and a fifth of property insurance (24%) is purchased directly by consumers, including sales via a price comparison website.


Distribution channel of personal lines general insurance, 2014

Long term savings & retirement products tend to be taken out with advice. Three-quarters (75%) of customers who purchased a pension, protection or other long-term insurance product had some form of advice.

Whether advice is taken depends on the product being purchased. Independent advice was taken by 66% of consumers in selecting a pension product. For protection products it was 61%.

Distribution channel of long-term savings, pensions, annuities and protection new business, 2014