FCA Reaction to Loyalty Penalty Super Complaint
Christopher Woolard, Executive Director of Strategy and Competition at the FCA, commented: “Before the CMA published its supercomplaint response last year, we had already [...]
pricing
Coffee Time: 10 Mins With Ben Potts From Novidea
You can learn a great deal over a brew and a chocolate digestive, as Insurance Edge Editor Alastair found out when meeting Ben Potts, MD of Novidea at the BIBA show recently; [...]
Opinion: FCA Business Plan Will Prompt Big Changes in GI Market
What does the FCA’s new Business Plan mean for GI? In this Opinion piece, Mark McDonald, Consultant at Altus, looks at the possible directions that general insurance is [...]
Willis Re Report on Re-Insurance Renewals Sees Price Rises Ahead
Reinsurers have adopted a rational rating approach at the 1 April 2019 renewal with price increases of up to 25% targeted towards loss-affected contracts and programmes. [...]
Consumer Intelligence Survey Suggests Remedies for Higher Renewal Pricing
Charging new customers less than existing customers is exploitative and hurts vulnerable groups such as the elderly but drivers and homeowners are still split on the issue, [...]
Broker/MGA News: Genasys Revamps Product Tool to Make Life Easier
Genasys Technologies has launched its newest product configuration tool to the UK insurance market. BUILD gives brokers, MGAs, insurers and start-up insurance businesses the [...]
Father of the Web warns insurers against data profligacy
Sir Tim Berners-Lee has urged insurers to avoid the temptation of using increasing amounts of publicly available data about consumers on the web to price their products.
The inventor of the World Wide Web made a plea to the industry at the British Insurance Brokers's Association conference in Manchester yesterday, requesting that information we share about ourselves on line - particularly by young people through social networks - should not be gathered for the purposes of pricing risk. [...]
Lloyd’s emerging market expansion given thumbs up
The Lloyd's insurance market's planned expansion into emerging markets is a net positive, even though writing insurance outside of established markets carries additional risks, according to Fitch Ratings.
Fitch said it expects the economic development of emerging market economies to boost demand for insurance and reinsurance. Lloyd's already writes 25% of its business outside of Europe and North America, with the growth of insurance premiums outpacing that of developed markets. [...]