FCA pricing review shifts insurers' attitude to insurtechs, says Urban Jungle CEO
The introduction of the Financial Conduct Authority’s pricing review has shifted attitudes to insurtechs and is leading to insurers competing to work with them, according to Urban Jungle CEO Jimmy Williams.
The FCA’s ban on price walking, intended to eliminate the so-called ‘loyalty penalty’, is due to come into effect on 1 January 2022.
The changes mean that when a firm offers renewal to a consumer, it
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Personal
Man jailed for £100K ‘crash for cash’ plot against LV
A man has been jailed, and two men have been sentenced, for an unsuccessful ‘crash for cash’ plot, which could have cost LV General Insurance £102,827.
Aviva and Direct Line agree terms on £3.7bn sale
The boards of Aviva and Direct Line have reached an agreement on the terms of a cash and share offer for Direct Line, equalling £3.7bn.
Labour’s £1.6bn pothole plan falls short
Insurers have reacted to Transport Secretary Heidi Alexander’s announcement of a 50% increase in funding for resurfacing roads, observing more cash will be required to end the damage done to cars by potholes.
Direct Line brand goes live on Compare the Market
The Direct Line brand is now live and quoting on price comparison website Compare the Market.
MGAs Review of the Year 2025
An MGA chief would like Sir Bob Geldof to teach the industry a thing or two about social responsibility in 2025, and leaders are confident that while the hard market was punishing for a time in 2024, next year the sector is well-positioned to lead innovation and remain agile.
Was 2024 the ‘Year of Reality Check’ for insurtechs?
Content Director's View: With territorial withdrawals and scaling back on products, Jonathan Swift asks whether 2024 represented the year the UK insurtech space got a reality check; and mulls whether a second Summer of Insurtech could soon be around the corner.
Insurers Review of the Year 2024
Insurers share their highlights of 2024 and hopes for more economic stability, less regulatory tinkering and fewer storms in 2025.
MIB expands use of digital green cards
From 2025, all countries that make up the green card system will be required to accept Green Cards electronically as proof of insurance when travelling.