A 14% increase in premiums is projected this year from insurance policies sold via direct marketing, according JCG Group Ltd., an insurance and financial services consulting group.
“We’re estimating that for 2007 we’ll end up with in force premiums attributable to direct marketing (will be) $371 billion,” said in a statement Donald R Jackson, chairman of JCG Group.
Roughly $325 billion in insurance premiums were generated through direct marketing in 2006, based on JCG’s research. This includes direct mail, Web pages, telemarketing, television, radio and other direct response media.
In 2006, Geico alone mailed 860 million pieces, which resulted in $11 billion worth of premiums for the company, according to JCG Group.
