Dear All,
Good morning, I hope that everyone week is coming along well
I’d like to share some very interesting news within the Insurance industry relating to pricing. The FCA is proposing that both insurers and brokers keep the same price point for New Business and Renewals terms. Furthermore, the BIBA fully supports this. As you can appreciate things are moving fast with changes happening now or coming in the near future. The rule of thumb with any change is that there is a new data point to consider. For example; relating to the point raised above from the FCA, surely we need even more data so a new pricing strategy approach which implicitly considers a data platform to support data analytics as well other components: https://lnkd.in/gzBrt4J
The ARGenesis GenieUs Ecosystem is already positioned well to accommodate the effects of these changes coming through and therefore we would encourage a consultation to discuss openly and transparently on how we can provide better informed decisions for you to help drive overall portfolios.
Have a great day and do please consider the above.
Best regards
Asif J.
Ali Bayramov
Chris Daniels