COMPREHENSIVE AND MARKET LEADING PRICING INSIGHTS
Market View is a insurance market 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.
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.
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.
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.
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.
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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.
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.
Support a key client to understand their competitive positioning during a price-led promotion running on one of the aggregators post-launch.
Benchmarking premiums against peers is a core part of remaining competitive and understanding your place in the market.
Most insurers will spend a big chunk of their budget on brand, product development and sales, but given the importance of pricing in today’s market, equal focus should be given to optimising your pricing strategy.
Despite an overall increase of 2.7% in the last 12 months, average premiums for UK motorists began to fall as the country went into lockdown
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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