Chris U’Dell

The credit crunch has meant that there are fewer cars, fewer houses, fewer loans and a consolidation of the market.  This is terrific because with a market shake-up it gives us the ability to go out there and do better things with better products and better people into markets that have been under served by those that have not invented and looked after their customers over the last few years.

We are certainly going out there to assist these companies that want to be in the financial service markets but unfortunately through FSA or through the market’s depression have seen that it is much more difficult for them.  What we are trying to do is speedboat in that industry and go out and show them that there is a better way.

Technology based solutions actually do do that.  Their inventiveness by having one policy that they would normally have five off. I give the example of our Lifestyle Protect; rather than having payment protection on your mortgage, your loans, your credit cards, your catalogue, why not just take out a Lifestyle Protect programme which is a lot more customer friendly in terms of price. What it does and gives them the choice of the levels of cover they are after that they need.  Whether it be life, accident, sickness, unemployment or all of the above or any combination.

So I think in looking at the credit crunch what it has done, in my opinion, is given the world an education into how banks work, and I think that has been very healthy. I am not sure that people in the industry even knew how banks worked !