Last week the Government unveiled plans to reform whiplash claims in its Civil Liability Bill, predicting an average premium saving of £35. Consumers remain highly sceptical, however, they will see the benefit.
We’ve been here before. In November 2016, the Ministry of Justice revealed plans that would reduce whiplash claims and save motorists an average of £40 a year on their car insurance. At the time, two thirds of consumers we asked said they believed the industry would pocket the difference. Only 15% said they trusted all insurers to pass on the savings.
Following last week’s news, we decided to ask again – and we found attitudes have barely moved. In fact, levels of scepticism have actually increased, with 70% of consumers now believing either the majority (50%) or all insurers (20%) will pocket the difference.
Do you expect insurers to pass on any savings from personal injury reform?
|
I think all insurers would pocket the difference |
20% |
|
I think most insurers would pocket the difference |
50% |
|
I think most insurers would pass the savings on |
22% |
|
I trust my insurer to do this, but not the wider industry |
8% |
Do you expect your premium to rise in 2018?
|
Yes |
67% |
|
No |
14% |
|
It depends on the government |
7% |
|
I don’t know |
12% |
At Consumer Intelligence we believe that it is the businesses that adopt an unwavering focus on their customers who will survive and grow.
We make it our mission to help you achieve this by providing tools and services to enable you to better understand consumers’ attitudes and behaviours, as well as the means to analyse this data and take positive business decisions as a result.
Download our guide to 'Understanding Consumer Attitudes' to learn how our output goes beyond research and data to uncover genuinely exciting insights – invaluable nuggets that can help transform your business and your bottom line.
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