Dual pricing
Review of the Year 2020 – Brokers and MGAs
Post spoke to brokers and MGAs to get their thoughts on the highs and lows of 2020
Trade Voice: ABI’s James Dalton on the opportunities to reset the GI dial in 2021
James Dalton, director of general insurance policy at the Association of British Insurers, previews a packed 2021 agenda that could shape the future of the industry for years to come as it emerges from Covid-19’s long shadow.
Editor's comment: 2020 a year of uncertainty
Humans are not designed to cope well with uncertainty.
FCA's product governance proposals could have longer term impact than price walking ban
Proposed changes to the Financial Conduct Authority’s product governance rules could prove to have a greater long-term impact than the regulator’s prospective price walking ban, consumer research and compliance experts have said.
Briefing: Media owner could signal bright Future for Go Compare
This week media group Future had offer terms accepted to buy Go Compare parent Goco. Post content director Jonathan Swift looks at how the deal could help reposition the aggregator away from expensive advertising, to a more customer-centric approach…
Q&A: Louise O'Shea, Confused
Louise O'Shea, CEO of Confused, spoke to Post about the comparison site's recent profits, its growth ambitions and what the FCA's pricing proposals will mean for consumers.
Insurers told soul-searching, not superficial projects, will improve industry's reputation
Insurance companies must ensure they are “purpose-led” in order to restore the sector’s reputation, Blueprint for Better Business CEO Chris Wookey told members of the Worshipful Company of Insurers last week.
Fully Comp episode 8: The pros and cons of crowdfunding for insurtechs
Welcome to episode eight of Fully Comp, Post’s video series tackling some of the biggest issues in insurance.
Trade Voice: Biba’s Steve White on walking the reputational tightrope
British Insurance Brokers' Association CEO Steve White reflects on the reputational tightrope the insurance sector has found itself atop and the need to assuage consumers' mistrust.
Analysis: FCA takes the ‘nuclear option’ on dual pricing
In September, the Financial Conduct Authority published its long-awaited final report on pricing practices in the home and motor insurance markets, putting forward a package of measures that its interim CEO described as “probably the most radical shake…
Mike Keating keen to grow insurer member levels at MGAA
Recently appointed managing director of the Managing General Agents’ Association Mike Keating has set out his vision for the association with growth of insurer partners high on the agenda.
Brightside’s Brendan McCafferty on why the insurance industry needs to get real on its social contract
The insurance industry needs to find the right answers quickly if it is going to rebuild its reputation with the public, particularly after the recent business interruption court case and dual pricing headlines, says Brightside CEO Brendan McCafferty.
Editor's comment: What a difference a year makes
I’m a firm believer that even when you are facing your darkest days things will be better on the other side and good things will always follow.
Interview: Penny James, Direct Line Group
Direct Line Group CEO Penny James spoke to Jen Frost about overseeing the business’s transformation programme under coronavirus, the group’s acquisitive appetite and having a healthy curiosity
FCA defends predicted £1.06bn dual pricing compliance cost
The Financial Conduct Authority has estimated it will cost the insurance sector £1.06bn over 10 years to comply with its package of measures designed to tackle dual pricing in the general insurance market.
Analysis: Price comparison websites warned of shrinking demand after dual pricing ban
Next year’s dual pricing ban will force price comparison websites to adapt if they are to stay relevant, experts have warned.
Dual pricing ban 'probably most radical shake-up of GI industry in years': FCA's Woolard
The Financial Conduct Authority has proposed banning retail motor and home insurance dual pricing in a package of measures designed to enhance competition, give fair value to customers and increase trust.
FCA to issue insurance value data measures policy statement this autumn
The Financial Conduct Authority expects to publish a policy statement this autumn following its consultation on compelling firms to report value measures data on most general insurance products.
Insurtech Rnwl aimed at reducing dual pricing 'pain point' announces pre-seed raise
The founder of equity crowd-funding platform Syndicate Room is looking for individual investors on Seedrs for his latest venture, insurtech start-up Rnwl, that is targeting the 'pain point' of dual pricing.
Interview: Craig Thornton, Lloyds Banking Group and ABI
In June, Craig Thornton, general insurance and protection director at Lloyds Banking Group, was announced as the chair of the Association of British Insurers’ General Insurance Council, replacing Andy Watson as he stood down as CEO of Ageas UK.
Cost of motor insurance at four year low due to lockdown
The cost of motor insurance fell to the lowest quarterly level since 2016, according to statistics from the Association of British Insurers.
ABI and Biba tout 'postive impact' of voluntary action on dual pricing
Voluntary initiatives launched in 2018 to address dual pricing are “having a positive impact”, the Association of British Insurers has claimed amid suggestions that the industry needs to go further and do so quickly.
CMA keeps up dual pricing pressure on insurers and regulators
Effective remedies are still needed to address the scale of the dual pricing problem in insurance, according to the latest update from the Competition and Markets Authority.
Briefing: The FCA is sending the wrong message on dual pricing
June 2020 was to be the month insurers got their comeuppance on the saga that is dual pricing, but the Financial Conduct Authority has once again dropped the ball.