Industry suffering price obsession

The insurance industry is suffering because of a failure to invest in its claims services and an obsession with cheap prices, a senior figure at an underwriting agency believes.

Frazer Dewey, sales director at Lorega, says investment has been cut back because the industry believes customers only care about falling prices, hence producing lower profit margins.

Mr Dewey said the solution was for underwriters and brokers to invest more in adjusters - crucially, ones that are chartered, because

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: