Month: December 2023

Home Insurance Premium Trends in the UK Insurance premiums for UK homeowners have fallen by 5.6% in the last 12 months and 6.4% since their peak in June 2020 due to the impact of COVID-19. As restrictions ease and more people return to work, prices are expected to increase slightly….

Deflation in the home insurance market has led to reduced competition between brands and less movement in the market. Our latest figures show that a market share gain of +0.21% propelled a home insurance brand into the top 10 in our growth charts, which is significantly lower than the rate…

In just a few weeks, we will be unveiling the top insurance providers in the UK, chosen by consumers themselves. Every year, our Insurance Behaviour Tracker conducts a survey with nearly 50,000 insurance customers to gather feedback on home and motor insurance brands. The highest-rated brands receive a Consumer Intelligence…

Predictions for the General Insurance Market in 2022 It has never been easier to predict what will happen in the year ahead for the general insurance market. In fact, I can summarise it all in 1 word and 3 themes. Themes for 2022 Rising Costs Absolutely everything points to a…

Home insurance premiums have decreased by 8.2% in the past 12 months, with the average annual buildings and contents policy now at £138. This decline is attributed to the COVID-19 pandemic and ongoing pricing battles on comparison websites, leading to increased volatility in the market. Consumer Intelligence predicts that insurers…

The Challenge of Pricing in the Insurance Industry One of the biggest challenges faced by insurance pricing managers is the lack of visibility into their competitors’ strategies. Unlike other sectors where pricing decisions are more transparent, insurance managers often operate in the dark. They may know the quotes they provided…

 The Financial Conduct Authority’s (FCA) recent actions regarding pricing in the home and motor insurance industry have caused significant disruption, forcing companies to adjust their pricing strategies for new and existing customers and putting an end to the practice of charging loyal customers higher prices. Media attention has been…

 Key Findings from Recent Pricing Shakeup It has been nearly two months since the major pricing changes in the insurance industry, and the initial data is now available. Here are the key takeaways: Record Price Rises New business prices have surged in January, as anticipated due to the ban…

 The FCA expects £4 billion of insurance savings for consumers over the course of 10 years as the result of its General Insurance Pricing Practices (GIPP) rules, the pricing part of which came into force at the beginning of the year. Changes and savings of such magnitude will create…

  Government Scheme for Ukrainian Refugees in the UK When the government scheme launched in mid-March, nearly 90,000 people in the UK had offered homes to Ukrainian refugees within the first few hours. Legalities and Insurance Considerations  But how many of those have considered the legalities of opening…