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Acquiring new customers is expensive, and by their very definition they are the customers you know the least about. 

The headline figures on shopping around at renewal have been high for a long time, but they have masked a big difference amongst different types of shoppers.

Behind the FCA’s decision to force pricing transparency at renewal was a desire to improve the treatment of loyal consumers, promote competition, and address concerns about consumer engagement at renewal.

Unless you’ve been living under an uninsured rock for the last year or new to the insurance industry, you’ll be aware that since the 1st of April insurance brands have had to change their renewal notices.

Last week the Financial Conduct Authority published an unprecedented level of detail about how much home insurers pay out in claims, their claims frequency and claims rejection rates.