The GIPP Performance Tracker is a tool to help insurers understand how the insurance market is changing in response to the general insurance pricing practices (GIPP) implementation.
Following the FCA's General Insurance Pricing Practices directive, we are about to embark upon a significant shift in which we will see the eradication of price walking, the removal of loyalty penalties, and insurers competing harder than ever to not only attract but more importantly, retain customers.
The GIPP Performance Tracker provides you with the ability to track changes across the insurance market and help inform your product proposition and pricing strategy in response to GIPP.
In the form of a report, you'll be able to track the response of the market and your competitors across the following key levers:.gif?width=400&name=GIPP%20GIFF%20(2).gif)
Identify which pricing strategies your competitors are implementing
Understand your pricing performance against the market and your peers
Monitor and identify opportunities to increase your quotability
Gain a view of how key competitors are changing their footprint by age
Build a deep understanding of how the market is changing and evolving
Access historical trended data to understand how the market has changed
Adapt your approach to product development
Make confident decisions based on accurate data
