Direct underwriters saw retention rates of 70% prior to FCA pricing reforms
Benchmarking analysis data has found that prior to the introduction of the Financial Conduct Authority's pricing reforms, direct underwriters had the highest retention and lowest switching rates.
The benchmarking analysis performed by Lexis Nexis Risk Solutions was based on industry contributed motor policy history and quoting behaviour data from 2019/2020 – prior to the launch of the FCA’s
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