“The future of pricing sophistication will reinforce the need for better predictive models and better market monitoring to allow insurers to compete in the market they’re in, at that moment.”
We recently had the chance to interview Nick McCowan, Head of General Insurance, Post Office, to get his insights related to the FCA’s new price-walking regulation.
In this first part of a two-video series, McCowan looks at how the entire industry has reacted in the first six months since the regulation went into effect. He provides valuable perspective on what the FCA regulation has already accomplished, how it has changed the market, and how consumers are gaining more value as a result.
He also offers real-world examples related to his firm and how the Post Office is delivering more value to its customers today. He also describes how the FCA ruling has changed many market dynamics and how the future of pricing sophistication will need to adapt to help insurers ensure their products and services meet–and exceed–customers’ expectations.
When you’re done watching the first video, you can watch the second video to learn more about his observations for a changing insurance industry.