Distribution strategy in the life and pensions market

Examines changes in the life and pensions industry in the UK with particular regard to distribution. Reviews changes at the industry and product level and the major impacts these have had on customer attitudes and service and the way in which distribution strategies have failed to put the customer first over the past 20 years. Argues that new entrants have changed the benchmarks for distribution in terms of productivity and customer orientation and that existing companies and distribution channels will face an increasingly difficult challenge to remain competitive. Concludes that there will be rationalization of the life and pensions industry and, along with it, a shift towards more acceptable and innovative forms of distribution with traditional direct sales being the major loser and bancassurance and direct writing being the main winners.