There is also a huge degree of complacency and also a minefield of confusing information.
For example, my mother in law was looking for home insurance, as a retired lady with no access to computers she asked me to have a look for her. Her renewal had come in with a quote of over £170. She had been with this company (her bank) for years. I managed to find her better cover for just under £65! When she went into her bank and cancelled the direct debit they asked why, and then, when told she had a cheaper quote, told her they could offer it for £60 - why not offer this in the first place?!
There have been many times that I have looked for cheaper quotes on car insurance and found out that my current insurers would offer a new customer a massive discount compared to an existing one - how is that right?
Does that engender customer loyalty? No it just annoys the heck out of me and I will disappear into the sunset with a new provider (until the next year!). Provide me with competitive quotes, look after me because I am loyal to you and not only will I stay with you, but I will shout your name from the rooftops because of it!
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