2.03 USAGE

All of the platform providers in this space have increased their user base over the past 12 months. For example, in 2020 Paymentshield had 30,776 registered users and so has more than doubled its user base in 12 months.

Meanwhile, Source Insurance added 50% more users over the period..

Figure 2.03: Number of registered users

[wpdatatable id=39]

While all providers have increased registered users, only Source Insurance has indicated a clear increase in the number of people actually using the system over the past 12 months (2019: 6,421).

The differences in number of registered users and users who actually used a particular system over the past year can be explained in part by the fact that there are no monthly costs and therefore no financial incentive to use the system. iPipeline is integrated with CRMs, so its usage may be driven by the users’ activity of the CRMs they use.

Figure 2.04: Number of registered users who used the system in the 12 months ending 30/09/20

[wpdatatable id=40]

There is a large disparity in the number of searches performed over the last year. iPipeline’s large number can be explained in part by its widespread use in the IFA market, as well as its dominance in the protection sourcing field.

Figure 2.05: Number of searches performed in the 12 months ending 30/09/20

[wpdatatable id=41]

Three systems have specific relationships with networks and mortgage clubs. iPipeline and Paymentshield both have arrangements with 22, closely followed by Source with 19.
Uinsure has a different policy, offering access to all clubs and networks.

Figure 2.06: Networks and mortgage clubs with a distribution arrangement

[wpdatatable id=42]

This data was collated in January 2021. Trek Publishing Limited accepts no liability for loss or damage to material submitted for publication.
© 2021 Trek Publishing Limited. All rights reserved.
No part of this report may be reproduced in any form without written permission of the publisher.