Insurance Debate: Insurers must demonstrate value
James Daley, MD of Fairer Finance argues that the sector has a long way to go before it is truly customer-centric and seen as professional.
The public does not trust the insurance sector and the mistrust can be traced back further that the most recent financial crisis, which Daley argued, was the "icing on the cake".
As part of the Insurance Debate he stated: "Insurers have always started from a difficult position with consumers. People assume that insurers design their policies to avoid paying claims - and it's not hard to see why people believe that. Every claim that an insurer doesn't pay out is, essentially, another boost for
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