ABI slams FSCP's proposed automatic-upgrade rule to tackle dual pricing

complaint

Consumer body's suggestion follows the super-complaint from Citizens Advice.

The Financial Services Consumer Panel (FSCP) has asked the Financial Conduct Authority (FCA) to consider introducing an automatic-upgrade rule to tackle dual pricing.

The organisation stated that the plan would either require a firm to automatically upgrade its customers into its best available product or offer them a choice of better quality.

But the Association of British Insurers (ABI) has criticised the proposal, stating that it carries the risk that customers will be moved onto policies

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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