Premium finance and the Uber model?

cash-in-hand

One look at an insurance industry figures reveals a startling statistic. While insurance brokers sell £28 billion worth of insurance policies each year, only about a fifth of these are sold via financing agreements, which make it convenient for customers to pay via monthly instalments.

Why are only £6 billion of the £28 billion sales of insurance premiums done via financing? After all, financing allows customers to spread the cost across the term of a policy rather than pay all of it upfront. Th