DUAL PRICING.

By 30th October 2019 Blog

GENERAL INSURANCE IS IN THE NEWS.

You have probably seen that the topic of ‘dual pricing’ has been featured in the press lately. The FCA is looking to crack down on the widespread use of initial discounted prices to then substantially increase them at renewal. According to the FCA around six million clients are negatively affected by dual pricing practices(1) because they do not shop around when their policy is due for renewal.

Your clients should not be included in this number. You have the knowledge, expertise and the tools to support your clients and ensure they are treated fairly at the time of their home or landlord’s insurance renewal.

Having access to our own fantastic general insurance comparison tool within our general insurance quote engine means you can do the shopping around for your clients to ensure they are getting the best price for their policy. Not only are you ensuring they are paying a fair price but they can be happy in the knowledge they have been advised of a product from our panel of market leading providers and they have also received advice to ensure they have the best policy to suit all their needs.

This is also a great opportunity to utilise Virtual PA within Toolbox. A suite of client-facing template emails have been created to support you in contacting your clients at renewal. The emails autogenerate in Virtual PA and encourage your clients to get in touch with you, so you can do the shopping around for them. Talk to us if you want to see the opportunities Virtual PA can bring to your business.

Selling general insurance to your clients not only means you have their best interests at heart, but it also opens up a fantastic opportunity for you to make contact with your clients on an annual basis, leading to other possible business opportunities while doing so.

For more information contact me on nicky.hemmings@primis.co.uk.

Source 1. Insurance Age