Consumer representatives note the significant complications and difficulties that the Insurance Monitor is currently experiencing in settling on an easily comparable quote for a premium across all insurers.
Attempting to formulate standard specification for a property scenario is one issue. Applying this scenario to the vast array of complexities relating to insurance product and the multitude of factors used to develop a price is another and is in short, a very difficult process.
This Survey discussion paper demonstrates the incredible complexities and difficulties that consumers face every day, and at the same time is a materialisation of these difficulties.
