The UK’s Financial Conduct Authority (FCA) aims to tackle ‘Price walking’ through the implementation of new rules that protect consumers from loyalty penalties related to various insurance products. These updates are likely to change the insurance industry as firms will now have to offer renewal prices that are no higher than the prices offered to new customers.
In their mission to meet the requirements of new regulations, insurers now realize the importance of having an agile platform that allows for quick changes in pricing practices. Today, this speed can be achieved through a single, end-to-end pricing platform that can manage the entire pricing process.
This brochure looks at some of the FCA changes and presents a solution to:
Turn FCA changes into new business opportunities
Meet new regulatory changes on time and with confidence
Make compliance and governance easier