COULD BEFORE-THE-EVENT INSURANCE BENEFIT FROM THE JACKSON REPORT?

With the future of After-the-Event (ATE) under scrutiny, Arc Legal sees a bright future for Before-the-Event. In a recent article exploring the industry’s view on the ATE in a post-Jackson world, Richard Finan highlighted how increased consumer awareness of BTE products could be more effective in filling the ATE gap.

Awareness, rather than cost, is a major factor in the sale of BTE policies. On aggregator sites, inertia methods of sale often see conversion rates of 80-90%, compared to conversions of 15-40% for on an opt-in basis. In addition to greater consumer awareness, new market opportunities such as divorce and maintenance markets and the removal of public funding for criminal cases could also see an increase in BTE policy sales.

Richard Finan was speaking to Post Magazine. The full article can be found at www.postonline.co.uk.