Month: December 2023

 Market Response to GIPP  As a period of significant change, the era of GIPP presents a unique opportunity for innovation. However, the most notable innovations we have observed so far have been related to tactical pricing and product packaging by major corporate entities.  In the lead up…

Home Insurance Premiums Surge The recent increase in home insurance premiums reflects a significant change due to the new pricing practice implemented by the FCA. Home Insurance Price Trends Following a sudden spike in home insurance costs at the beginning of the year, recent analysis from Consumer Intelligence suggests that…

Cost of Living Crisis Impacting Households  The cost of living crisis has been making headlines for months. In April, a 54% increase in the energy price cap affected 22 million homes, resulting in an estimated £700 yearly rise in the average bill. Food prices and fuel costs are also…

Consumer Intelligence Home Insurance Price Trends The average cost of a new home insurance policy has decreased by 5.6% in the last three months. This drop in prices is attributed to smaller new business volumes, which have increased competition in the market. Cost-of-Living Relief Households are experiencing some relief in…

As home insurance brands adjust their pricing strategies following the FCA’s pricing reforms that prohibited price walking, changes in market share are becoming evident. Some newer brands in the market are experiencing growth, while established brands are focusing on customer retention. Our Insurance Behaviour Tracker monitors the renewal journeys of…