Seven life and personal lines insurance companies re-priced a total of 17 insurance products in the quarter to 15 September. That’s up from three companies in the previous quarter.
Eight companies revised policy wordings for a total of 14 insurance products in the quarter, up from five companies revising twelve products the quarter before.
That highlights the pace of change – and just how important it is to actually check the wordings and pricing for the products you are either offering, recommending, or buying depending on your role in the value chain. The market is becoming more dynamic almost quarter by quarter at the moment, reinforcing a trend that is at least three years long.
More details will be available to subscribers of the Quarterly Life report, which should be released at the end of the week.