It’s been a difficult couple of weeks for personal lines brokers.
I attended the I Love Claims Home Insurance Conference this week. And as someone who spent 7 years working for a home insurance brand, it was an interesting experience to hear such involved industry discussions between different parts of the supply chain from a wide range of experts.
Unlike motor, the home insurance market has traditionally been dominated by intermediaries, but this sleepy backwater of the industry has seen radical change in the last 12 months.
Home insurance premiums have risen by 3.5% in the last 12 months, the latest Consumer Intelligence Home Insurance Price Index shows.
The ever-rising premiums for motorists stand in sharp contrast with what’s happening in the home insurance market.
Hastings has grown its share of the home insurance market at a faster pace than any other provider, the latest figures from Consumer Intelligence reveal.
Aviva has overtaken Direct Line as the UK’s strongest insurance brand, according to the latest research from Consumer Intelligence.
Consumer Intelligence has updated its home insurance price and shop around indexes.
The home insurance price index1, monitoring the five most competitive home policies across price comparison websites and direct insurers, shows that premiums are roughly flat year on year. As a result, the consumer’s levels of satisfaction and loyalty are high.