Direct Line Group welcomes the FCA’s General Insurance Pricing Practices Interim Report which sets out a number of possible remedies for consultation to improve outcomes for long-standing customers to provide the level playing field that the industry needs to tackle this challenge. 

At Direct Line Group, we want to earn our customers’ loyalty and have taken a number of actions to give them a reason to stay with our brands, including:

• Pushing for the disclosure of the previous year’s premium in renewal letters to improve transparency.
• Actively reviewing customers’ renewal price when they reach their five-year anniversary with us and as a result many of our customers have seen their premiums frozen or discounted.
• Offering a range of propositions to protect our customers and a high-quality claims service for our customers.
• Investing in a major technology upgrade to help us make it easier for our customers to manage their protection, from the moment they think about buying a policy, managing their cover 24/7, all the way through to making a claim.

 

Penny James, CEO, Direct Line Group commented:

“We welcome the FCA’s report and look forward to engaging with them during the consultation period. We care about our loyal customers and prices shouldn’t keep rising for no reason and we agree with many of the possible remedies set out today by the FCA. We want our customers to value the protection, service and security we provide and we know that in order for that to happen we not only need to be clear about pricing but also give them reasons to stay.”

ENDS

For more information please contact:

Jade Trimbee

Senior Manager - Corporate and Financial

External Affairs

Tel: 01372 839 452

Mobile: 07825 315 931

Email: [email protected]

Direct Line Insurance Group plc

Direct Line Group is headquartered in Bromley. Through its number of well-known brands the Group offers a wide range of general insurance products to consumers. These brands include Direct Line, Churchill and Privilege. The Group also provides insurance services for third parties through its partnerships division, Direct Line Group Partnerships. In the commercial sector, the Group's NIG and Direct Line for Business operations offer insurance products for businesses distributed through brokers or direct, respectively.