Channel Metrics is a series of 25 briefings and an overview report based on original consumer research with a total sample of c. 6,500 respondents investigating trends in current and future distribution channel usage in UK retail financial services. In addition to gathering data for overall take-up rates and annual churn rates across the various financial products and services considered, the research also yields results regarding the distribution interface and specific distribution channel used to purchase or take out the same financial services during the November 2004 to October 2005 period. Moreover, in order to understand the future trend in consumer distribution preferences, the series provides a projection of the same information for the following 12 months again based on the answers provided by the consumer panel. In order to provide clear insights into the subject, this analysis of distribution interfaces and channels incorporates only the responses of consumers making an active choice of distribution channels during the past or future 12-month period in question. Consumers making or intending to make an active choice are defined as those who switch provider for a given financial product or service during the time frame under review or those buying the product or service having not held it during the previous year, thereby excluding respondents who merely remain with the same provider. Overall, the Channel Metrics series offers detailed and unique insights into current and future trends in distribution channel usage across 25 distinct financial products and services - with a dedicated briefing having been produced for each - as follows: car and home (motor insurance, breakdown recovery, extended warranties (for cars), household insurance, home assistance); life and health (life insurance, critical illness insurance, income replacement insurance, private medical insurance, health / hospital cash plans, personal accident insurance); loans and credit (mortgages, personal loans, car finance contracts, credit cards, payment protection insurance); niche insurance (travel insurance, pet insurance, mobile telephone insurance, computer laptop insurance); and savings and investments (personal / stakeholder pensions, cash ISAs, equity ISAs, child trust funds, unit trusts / OEICs). Channel Metrics: Trends in Current and Future Distribution Channel Usage in UK Financial Services is based on the results of an on-line survey of c. 6,500 consumers arranged by IMRS, the market research division of Interactive Prospect Targeting (IPT), during October 2005.
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