Motor insurance providers have had to adapt to changing consumer behaviour in the current economic climate. In addition, insurance firms will need to review their pricing practices as a result of the reforms set out in the Financial Conduct Authority’s final policy statement for its general insurance pricing study.
The introduction of new rules around pricing practices comes on the back of a pandemic that has already altered consumer behaviour, due to its economic impact and disruption of work routines.
Based on research conducted by Insurance Post and LexisNexis Risk Solutions, this spotlight focuses on how these changes are impacting the motor insurance landscape and the implications for insurers.
Topics covered include:
• How is the current economic landscape impacting the behaviour of motor policyholders?
• The impact of the FCA policy statement on motor pricing practices.
• The future use of aggregators.
• On-boarding new customers.
• Assessing customer renewals.