UK men and women are equal on financial product decisions in the UK, but there are stark regional differences, a new research partnership has found.
The Syndicate, a collaboration between the Protection Review and Hannover Life Re (UK), found, when considering financial matters, men and women an equal 48% in the decision making process.
The research, looking at differences in the way the sexes view finances, security and protection, found equal number of men and women (41%) also consider themselves active contributors to financial product decisions.
The Syndicate found a significant difference within regions though. Over half (52%) of women living in the North East were the main decision maker as opposed to 37% of men.
The dominance of women followed in London with 50% women against 43% men. However, in the North West the opposite emerged with 66% of men being the decision maker compared to 50% of women.
The Syndicate said its aim was to "place a magnifying glass against British consumers and attempts to help the industry to serve them better."
As well as the two partners the Syndicate has also announced a membership of Zurich, Friends Life, Exeter Family Friendly and The Finance IT Net-Work. All will have input into the subject of future research.
Ronnie Bowes, Head of Marketing, Hannover Life Re (UK) said: "In today's challenging economic climate, we believe that innovative associations and consumer insight will play an increasingly significant role in ensuring we deliver products and services that consumers expect."
Further findings will be issued throughout the year with a full analysis presented at The Syndicate Forum in January 2012.
Get that Friday feeling!
The news that the ABI and British Medical Association (BMA) agreement on GP report (GPR) fees has broken down will usher in a period of uncertainty.
Lack of innovation investment in the UK insurance market has been highlighted by recognition of RGA's work in the US.
Protection business in 2012 and 2013 will be affected by events this year and some fundamental changes to the way customers policies are priced into the next. Richard Verdin explains.
Employee assistance programmes are in the spotlight due to a schizophrenic approach by government. But as Sue Weir points out, they are backed by solid research.