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Disruption & Pricing

  • Pricing

“This is the largest change ever, given that the entire market had to re-price its models.” 

The UK is a prime example of an insurance market experiencing massive disruption, driven in no small part by the Fair Pricing regime put in place by the Financial Control Authority, effective 1 January 2022. 

Justin Clarke has been in the insurance industry for 23 years, undertaking significant actuarial and underwriting work, and is a keen observer of the market. 

He recounts the objectives of Fair Pricing, and what it has brought about, now nearly three fiscal quarters in: 

  • In both the automotive and home insurance markets, more people are renewing with their current carriers, reducing activity on aggregator sites and with direct insurers, doing less shopping around 

  • As such, there is more stagnation among customer bases, making growth harder to come by 

  • Driving massive new product introductions and innovation 

  • And, causing aggregators to examine their business models 


You’ll want to glean these and other lessons from the UK experience, see the numbers for yourself, and benefit from Justin’s pricing and underwriting work with large insurers such as Allianz, AXA, Direct Line Group, and RSA. 

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