Nearly all (98%) of intermediaries are undertaking business online
Nearly half (46%) stated that their on-line business had more than doubled
over the last year
A quarter (26%) of intermediaries believe that ALL their business being conducted online within a year
Nearly half of those questioned stated that they had seen their on-line activities more than doubled.
The research also shows that, not only has online business increased massively in the last year, from the intermediaries’ point of view conducting business on-line is the future. For example, over a quarter stated that they expect that all their business will be conducted online within a year. When this question was asked twelve months ago, only 16% made this claim.
A summary of the findings are as follows:
- 94% of intermediaries reported their online business increasing in the last year, with half of those (46%) stating it had more than doubled
- In addition to the 26% of intermediaries who can see all their business being conducted online within a year, a further 70% expect to see the amount of on-line business increase
- 85% of intermediaries submit at least a quarter of their business online, 60% submit over half
Jeff Knight, Head of Marketing Services said: “I am not that surprised by these findings. At GMAC-RFC we were ahead of the game and have had an on-line system for some time that has been extremely popular. In fact, nearly 80% of our applications received have ha had an on-line accept decision.”
Knight continues: “We actually expect that we will actually see a much bigger increase in on-line activity next year than is being predicted, with regulation actually acting as a catalyst for a surge in this area. “
GMAC-RFC’s research complements the positive reaction to their automated decisioning feature for intermediaries which clearly reflects the massive demand for a fast and accurate process which benefits both brokers and consumers.
