UK multi-tie channel leads on e-business according to survey.

(From InsuranceNewslink.com)

The multi-tie distribution channel is leading the way for electronic trading, according to the Focus Quotient Review of 2005, a report by Focus Business Solutions that measures the industry's progress in terms of eCommerce. In 2005, the multi-tie distribution channel processed the largest proportion (45%) of electronic new business. The number of electronic new business transactions processed by The Focus Quotient sample reached over million, representing a 38% growth on the previous year's figures.

The Focus Quotient has now grown to 1091 in 2005 from 967 in 2004 (2001 benchmark:100). According to Focus Business Solutions, the Focus Quotient, now in its fifth year, is well established as the industry benchmark for the growth of electronic trading and represents over 75% of the leading UK insurers. The new results for the year-end December 2005 were launched this week.

The key theme throughout the findings of the research was that depolarisation has clearly had a positive impact on e-commerce within the life and pensions community, with 82% of the insurers in the sample establishing links with multi-tie organisations within the 12 month period. The majority of insurers have ...