Financial Conduct Authority

Building loyalty within the insurance sector: it’s not all about price

Published on: June 27, 2014
Author: Pauline Ashenden - Demand Generation Manager

In recent years, the consumer insurance market has changed out of all recognition. New channels such as the internet have transformed the landscape. Indeed, according to the Financial Conduct Authority, almost half of all internet users have researched motor insurance on price comparison websites, with 4 out of 5 of them going on to buy policies through them.Customer loyalty is a thing of the past...

Increasing insurance loyalty with linguistics

Published on: March 03, 2014
Author: Lloyd Buxton - Business Development

The UK insurance market is one of the most competitive in the world. The rise of comparison sites, increased regulation, low customer loyalty and an explosion in distribution channels have all combined to decrease margins for insurers. Recent research from Accenture found that UK home and car policyholders are amongst the least loyal in the world, with 57% looking to switch provider in the next ye...

Looking at the future of insurance

Published on: January 15, 2014
Author: Lloyd Buxton - Business Development

2014 promises to be a pivotal year for the UK insurance sector. Competition has never been greater, particularly when it comes to motor, household and travel insurance. More and more people are buying their policies through price comparison sites, rather than direct or via brokers, bringing down margins. Loyalty is at an all time low – 38% of UK motor insurance customers switched provider at...