About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, January 21st, 12:03AM
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



Printable version  


Email to a friend
Insurance Briefs

Southern Cross launches advisory group
Southern Cross Health Society has announced the establishment of a Māori governance advisory group in a first for New Zealand’s health insurance sector.

HealthLink and Konnect NET to merge
Healthcare technology companies HealthLink and Konnect NET are merging.

Fidelity scores top award for third consecutive year
Fidelity Life has been named 2019 Life Insurance Company of the Year by ANZIIF for the third consecutive year.

Suncorp invests in wellbeing
Suncorp New Zealand has now invested a total of $20 million into wellbeing bonds as part of its focus on identifying sustainable investment opportunities that can deliver positive community outcomes.

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
Site by Web Developer and eyelovedesign.com