| Journal: TWUK | Section: |
| Title: | Issue Date: 21/08/00 |
| Author: | Page Number: 5 |
| Copyright: Other |
Club Direct highlights new insurance fall
TRAVEL agents’ share of the insurance market has fallen below 45%, according to direct-sell company Club Direct.The insurance provider said Mintel figures, which give agents a 64% share of schemes sold, are based on selling price, not the number of policies sold, and that if commission is taken out, agents actually only account for 45% of these sales.
A Club Direct spokesman said: “People are now more aware that they don’t have to buy insurance from an agent. We believe sales will continue to shift away from the trade.”
AonSuretravel managing director James Beagrie said if Mintel’s figures are based on selling price, the agents share would be higher, as so many are giving away insurance.
“My estimate based on our experience is that agents have a 70%-75% share of the market,” he added.
ABC Holiday Extras managing director Stephen Lawrence said the firm has seen a 10% drop in the number of policies sold this year against last but this is due to agents selling more annual multi-trip schemes.
Ketteridge general manager sales Doug Weston said agents are doing well to keep 64% of the market with so many retail outlets selling travel insurance.