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Dual pricing frustration breeds opportunistic fraud – experts | Insurance Times

Dual pricing
Dual pricing has long been in the forefront of insurers’ minds for the past 12 months, after a super-complaint was submitted, which led to an investigation into pricing practices.

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“A survey by the Chartered Insurance Institute (CII) found that people were relatively happy with claims,” another attendee said. “It was the sales side that had a bad score. People are really unhappy with the sales side of things. And that is because dual pricing.”

And there appears to be a link between the growing unrest of consumers surrounding dual pricing and their willingness to inflate claims.

Recent YouGov research found that 41% of UK adults have been approached about an insurance compensation claim in the last three years.

However, after delving deeper, YouGov found that just over half of the people surveyed would not be comfortable submitting an embellished claim, but a worrying 28% would be fine with it.

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Dual pricing frustration breeds opportunistic fraud – experts | Latest News | Insurance Times.

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