Insurance industry needs to improve communication on motor premium costs – Colm Holmes
At the Association of British Insurers Annual Conference today, Allianz UK CEO Colm Holmes claimed the insurance industry is doing a “poor job” of explaining the reasons for costs of premiums.
In the session We’re All in This Together – Promoting access to affordable insurance through partnerships, he said: “If somebody’s not hearing your message, don’t blame the listener, blame the person giving the message.”
The panel, hosted by Ken Norgrove, deputy president of the ABI and RSA CEO, highlighted it has been “difficult times for insurers”, with the affordability of insurance having to be balanced with increasing risk and inflation pressures on cost.
Holmes highlighted that the cost of
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