Consumers and General Insurance - UK - December 2015
“Intense price pressure has caused the general insurance market to shrink and the aggressive price competition facilitated by price comparison sites shows no signs of letting up. The market is reaching a crucial juncture in how it manages value-seeking customers, as continuing to drop prices could have serious consequences for product quality. Technology and UK-based customer service could be enough to differentiate beyond price.”
– Patrick Ross, Financial Services Analyst
This report looks at the following issues:
- Peer-to-peer insurance is calling the role of the traditional insurer into question
- Tumbling premiums spell trouble for product quality
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