How much should you spend on advertising if you are going to be a direct underwriter? The latest spending figures of Direct Line and rival Esure suggest the newcomer has a long way to go.
It seems Peter Wood's new venture Esure (backed by Halifax Bank of Scotland) spent about £3m on television, radio and national press advertising since its summer launch. Seem a lot? Not by a long chalk. Peter Wood's old company Direct Line spent £30m in a year on television, radio and national press advertising.