Abstract:

The paper describes one approach used by several banking and insurance companies in the launching of profitable new financial products. Despite extensive research over the past decade, a number of unresolved questions in the banking and insurance fields are now demanding answers. Is behaviour in the banking and insurance markets dependent upon consumers life cycle or are permanent social changes taking place? How does one overcome the apathy which appears to exist in banking and insurance where once a year or once a life time decisions are made? The authors argue for an integrated research programme including: - Assessment of current changes in attitudes to savings and borrowing - The development of concepts within major platforms; concept research which provides financial products which are perceived as new by consumers.