tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, November 1st, 10:39AM

Insurance

rss
Latest Headlines

Trade Me: We still back LifeDirect

Trade Me says it hasn’t given up on LifeDirect, despite a big fall in revenue.

Sunday, August 27th 2017, 7:54PM

The company has reported that, in the 2017 financial year, the direct-to-market life insurance sales platform experienced an 11.3% drop in revenue, to $5.3 million, due to lower traffic volumes.

A drop of revenue that size would require a much larger drop in sales, because insurance businesses’ renewals usually keep going up.

It may be that sales have dropped up to a fifth.

Overall, Trade Me’s revenue grew 7.7% to $235m.

LifeDirect allows consumers to compare quotes from insurers including AIA, AMP, Asteron Life, Cigna, Fidelity Life, OnePath, Partners Life and Sovereign online. It covers life, health, income protection, mortgage and funeral insurance.

It offers a 20% cashback in the first year on new policies taken out.

The online website company acquired LifeDirect in 2013.

Chief executive Jon Macdonald said Trade Me had diverted traffic away from LifeDirect over the last year in favour of giving its core businesses more prominence.

“But in more recent times we’ve worked on LifeDirect with renewed vigour. We certainly haven’t given up on the business and are looking forward to getting it back into growth.”

He said roboadvice would be a natural extension of the platform, to tailor a recommendation to clients' circumstances.

"Similar to successful online comparison models overseas, there is opportunity to expand the comparison platform into a wider range of products, including other financial services and utilities."

Tags: LifeDirect

« AIA expands cancer benefit reachAsteron starts review after fraud »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

nib launches tool to support women through menopause
nib has launched a new health management programme designed to support women as they navigate the stages of perimenopause and menopause.

Employees are wanting health and life insurance
A new survey shows potential employees what life and health insurance benefits, but less than a third of employers plan to offer such benefits.

Chubb Life makes changes to trauma benefit
Chubb Life has made a series of enhancements to its Assurance Extra and Assurance Extra Business policies, including the addition of a new Continuous Trauma Benefit,

Resolution Life gets new president
Global life insurance group Resolution Life has appointed Moses Ojeisekhoba as its new President.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x