Insurance brokers and life companies will attempt to cross-sell to existing customers in order to compensate for "downbeat" market conditions in 2012, research suggests.
Almost eight in ten (79%) brokers said cross sales would be a growth area in the first quarter of the year, as did 47% of life companies, according to the Confederation of British Industry's (CBI's) latest quarterly survey of the financial services industry. Howard Scott, an insurance partner at PwC, which compiled the paper, blamed a poor end to 2011, with bad results expected to continue into 2012. "Life insurers' predictions for the New Year are downbeat as they struggle to contend with the unhelpful combination of falling consumer confidence, a quiet housing market, tighter househ...
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