insurance market benchmarking

Optimise your competitive position in a
fast-moving insurance market

COMPREHENSIVE AND MARKET LEADING PRICING INSIGHTS

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Insurance Market Benchmarking

Our insurance market pricing insight and benchmarking tools enable our clients to optimise their competitive position in a fast-moving market by accessing uniquely comprehensive and market leading pricing insights.  

We are uniquely placed to collect data from direct insurers and aggregators, using real customer risk information to ensure our data and insights are both meaningful and nationally representative.

Depending on your specialism, our data can help you measure and improve quotability, pricing consistency, and competitive performance; optimise your pricing strategy across the channels in which you operate; identify new target customer segments and footprint opportunities; or even help manage relationships with your PCW partners - all whilst gaining a transparent view on competitor movements.

 

Market View

Market View is a insurance market pricing benchmarking toolkit that provides a uniquely comprehensive understanding of market dynamics, competitor behaviour and brand positioning within the general insurance industry.   The toolkit is comprised of two products: Annual View and Instalment View. 

At a high level, Market View allows you to monitor performance, identify challenges and problems, and discover opportunities.  Depending on your specialism, our data may help you to measure and improve quotability, pricing consistency, and competitive performance; optimise your pricing strategy across the channels in which you operate; identify new target customer segments and footprint opportunities; or even help manage relationships with your PCW partners - all whilst gaining a transparent view on competitor movements.

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Fair Value Framework and Comparison

Fair value is set to be a revolutionary change for general insurance, making it a core focus for the FCA in the coming years. To help you step confidently into the world of fair value, we have launched two new services designed to give you in information you need to evidence your compliance to the FCA, embed fair value throughout your organisational culture, and generate positive business outcomes.

The Fair Value Framework provides a universal language across the insurance industry of what fair value is, determined by the people that matter most - your customers. The Fair Value Comparison is designed to help insurance brands get ahead of the game by establishing how they compare to their peers and identifying where improvements need to be made ahead of FCA intervention.

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Data Mapping Diagnostic and Question Set Monitor

We've developed two products that save you time, improve your performance and give you greater confidence in your mappings process. 

The Data Mapping Diagnostic is a diagnostic service designed to identify and resolve mapping inconsistencies between the PCW journey and your back-end pricing database, saving you time and hassle and giving you the confidence you need in your PCW strategy. 

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The Question Set Monitor provides a comprehensive understanding of current PCW customer journeys. This product keeps you up to date with questions, available options and answers exactly as they appear on each of the big four Price Comparison Websites. Tracked over time, we can flag changes in these journeys and notify you so you can ensure your pricing strategy remains aligned. 

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Additional Product View

This unique data set, focused on the motor add-ons market, enables you to benchmark your add-on pricing strategy against your competitors and understand the impact of the new PCW question sets implemented as a result of the Insurance Distribution Directive. 

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Offers and Incentives View

Understand competitor marketing activity within the general insurance industry. Using brand visible data, the insight will enable you to make informed decisions around your own marketing offers and how you can incentivise new customers.

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Insurance Advertising Substantiation

The biggest brands in the insurance industry trust us to provide independent substantiation for their advertising claims. Price claims provided by Consumer Intelligence are truly unbiased and accurately reflect a company’s position in the UK market.

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Featured content


Pricing Agility Whitepaper

Pricing Agility in the General Insurance Market

In this paper, we explore the current best practice in insurance pricing and give you some guidance about where the industry is about to go next. Ten years ago, the cycle at which prices changed was linked to risk and was measured in weeks and months and the feedback loops of success and failure were slow, today “street” prices can vary many times in a day.

Download report


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Motor Insurance Add-ons 

The insurance add-ons market is a rich source of income for the UK motor insurance industry, but with changing regulations, differing consumer behavior and a wide range of insurer strategies at play, it is becoming increasingly difficult for insurers to determine the best approach to market for add-on policies. 

Purchase report

 

 

Case studies


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Key market events – timely insight to inform pricing

Our client wanted to adopt a ‘fast follower’ pricing strategy in the context of key market changes, such as the introduction of the FloodRe levy & the Ogden rate changes.

Case study


guidance

Guidance on optimising price promotion on PCW's

Support a key client to understand their competitive positioning during a price-led promotion running on one of the aggregators post-launch. ​

Case study

 

 

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We passionately believe in fusing data and insights in order to better help our customers... so we felt that Consumer Intelligence were exactly the right partner to work with

Ian Rowlands Vice President of Partnerships, GoCompare

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