What does the dual-pricing ban mean for the future of insurance?

The Financial Conduct Authority’s January crackdown on the practice of price walking has lead to the biggest shake up the home and motor insurance market has faced in years — a reform leading to the ban of overcharging on renewal prices compared to already loyal customers. 

Insurance Post, together with PayPal conducted research surveying the market on the end of dual pricing and what it means. Based on the survey, the following trends emerged:

• Price isn’t everything
• Trust and loyalty will increase
• The digital journey is key
• Comparison sites will evolve
• Insurtechs to increase influence
• Customer needs come first

Download a PDF of our infographic here. 

To view the full report, click here.

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