UK personal motor market to remain unprofitable for further five years

The research reveals that the next five years of forecasted poor performance is being driven by a 30% annual increase in the cost of fraudulent claims and an over-reliance on pricing in an increasingly competitive sector.

Ryan Warren, who leads Towers Watson’s pricing and product management practice across EMEA, said: “Ten years ago, the best insurers differentiated themselves from the worst on the strength of sophisticated pricing systems and underwriting to spot profitable niches. Fraudulent