Results 11,941-11,960 of 35,639 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: I will finish on this question, but I will come in again. I direct this question to Mr. Quinlan. Regarding price optimisation and dual pricing, he may have read in the media that I have asked the Central Bank and the Competition and Consumer Protection Commission, CCPC, to investigate the issue. I will be providing evidence next week to the CCPC. Dual pricing is controversial. It...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Aviva is operating dual pricing, which looks at the behavioural attitudes of customers and how to get the best price from them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Price optimisation punishes loyal customers. Does Mr. Mahon accept, given the findings so far, that the more loyal customers are, the more likely it is that they will have a price premium? Aviva's experts in price optimisation need to understand behavioural attitudes so that people willing to renew repeatedly will be penalised with higher premiums. Is that what this really means?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: I will get a chance to come back in later.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Yes. I have a few questions. What is each of the witnesses' firms premium per licensed vehicle?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: What was it in terms of an increase on last year's premium?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: What was it in 2018?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: It was 2% higher.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Okay. What is premium charged by the other witnesses' firms, starting with AIG?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Are these 2018 figures?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: What about Zurich?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Those figures are in line with the industry average. Insurance Ireland's estimate for 2017 indicated an average premium of €680, which is up by 50% in the past four years. The Central Statistics Office tells us that motor insurance premiums have reduced by a much higher percentage. The percentages that the witnesses have told us here are very small - 1% or 2% in some cases.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: The fact file shows that it went up by 6% in 2014, by 12% in 2015, by 22% in 2016 and by 6% in 2017.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: The CSO and Government tell us that insurance premiums have dropped by 23% in the past three years.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Mr. Brennan's experience is that it has not dropped that much.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: What proportion of the witnesses' motor insurance business auto-renews?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: What percentage renews with the company?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Those are people who do not contact the company and just renew their policy. It is 20% for Aviva?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: Does that mean that Aviva loses 90% of its customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)
Pearse Doherty: How many policyholders renew?