Companies able to think outside the usual 'insurance box' and develop web-based non-insurance business will prosper in the new internet age, predicts stockbroker Goldman Sachs.
In its latest analysis, Goldman Sachs says there is no disputing the potential of the internet as a very powerful distribution medium for insurance products throughout Europe.
But it adds: "However, we remain unconvinced that it will be the European insurers themselves that develop this business on a direct basis."
Rather, it expects a new generation of broker-based businesses to drive forward the distribution of insurance products on the internet.
The stockbroker said that the main winners among insurers will be those offering pricing advantages, strong branding, a multi-distribution strategy and the ability to develop non-core activities on the net.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
