Whitepaper:
Pricing agility in general insurance.

Today’s general insurance market is marked by complexity and rapid shifts creating an environment where agility is not just advantageous but essential. 

 

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What is pricing agility and why do insurers need it?

Pricing agility is no longer just a competitive advantage but a necessity when it comes to customer acquisition. The ability to sense and respond to price movements swiftly is critical in a market defined by volatility, especially when competitor pricing changes can drastically impact your own competitive performance.

The key is to be prepared for market changes, such as shifts in the Ogden discount rate, new capital and capacity entrance, and regulatory interventions from the FCA, and be able to quickly respond to competitor shifts. 

“In this landscape, staying ahead requires more than just compliance it calls for a proactive approach to data-driven decision-making, allowing them to meet both regulatory requirements and customer expectations with speed and precision.”

Ian Hughes, CEO at Consumer Intelligence