Insurance Post
Podcast: How are aggregators going to evolve?
03 Jun 2021
Insurance Post recently conducted a survey to get an overview on motor pricing trends and the impact the current economic climate has had on consumer behaviour.
The results of this have just been published but to get a deeper understanding of the findings and trends
Post content director Jonathan Swift sat down with Consumer Intelligence founder and CEO Ian Hughes, pictured above, and LexisNexis Risk Solutions’ senior director of personal lines (motor, household, telematics and connected car) Martyn Mathews to discuss some of the themes the research teased out.
In this, the second of two podcasts the trio focus on data enrichment; how aggregators might evolve; and what insurers need to do with their pricing strategies to remain competitive.
Insurance Post recently conducted a survey to get an overview on motor pricing trends and the impact the current economic climate has had on consumer behaviour.
Bruce Hepburn, CEO of Mactavish, argues that the business interruption fallout stems from an imbalance, and questions broker accountability over advice.
Insurance Post
Insurers have argued that proposed fee caps for claims management companies may be too generous, while the claims sector has cautioned measures could reduce choice and service quality.
In January the Financial Conduct Authority published proposals to introduce caps on the fees claims management companies can charge their customers. The measures would see CMC take limited to a 15% to 30% cut, depending on how much redress a consumer is due.
Some claims businesses currently charge fees upwards of 40%.
The regulator estimated a fee cap could save consumers several thousand pounds on individual claims, equating to £9.6m in savings annually.