Results 13,081-13,100 of 36,748 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 have the document here and can read it to Mr. Mahon. One of the skills required was understanding the behavioural attitude of the customers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: Here is the document. Aviva was hiring a "GI Pricing Team Leader". The job is described as expired because it is now filled, for a person that Mr. Mahon tells me does not exist. The description states that a number of price leads are being recruited in both the personal and commercial lines, so there was not just one but a number. It goes on to state that Aviva would like the applicant to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: The document also states that Aviva would like the applicant to, "Support the UK based Technical Pricing & Analytics function in the development of best in class technical pricing and customer behavior models for the Irish market." Do the witnesses want to have another try?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: That is fine but do not tell me that there is nobody working on this within the industry.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: I am not asking about the incentives for new customers, which is common in the industry. Why is Aviva recruiting people who need experience in customer behavioural models? Is Aviva recruiting people who have to have experience in customer behavioural models? Is it not the case that the Financial Conduct Authority, FCA, report, which Aviva is involved in across the water, states that if...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: Does Mr. Quinlan accept that if a person renews with the company on average, because of these algorithms and because of identifying customer behaviour, he or she will pay an additional 20% on the premium?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: They are the FCA's figures.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: Would he suggest that is broadly what the FCA is examining? Has he heard, for example, that if a person renews ten times or more he or she is likely to be paying an additional 40%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: Aviva is operating in Britain. On 1 April 2017 what new rules came in for policyholders?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: On 1 April 2017 was it not the case that new rules stated that customers who renew over four times with an insurance company will have to be prompted again to shop around, even though there is a requirement for every renewal policy to be prompted, but those who renew on four occasions or more need to be given an additional prompt by the insurance company to shop around for better value?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: That has been introduced because of this information. Does Aviva do any work with Milliman, an actuarial and consultancy firm?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: Are the witnesses familiar with its work?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: It is a reputable organisation and it states that optimisation algorithms, which the witnesses agree that Aviva has, can push prices up for loyal customers who have been renewing their policies with the same insurer for a few years because the model perceives them to be less price sensitive. Is that not the model? Is that not why Aviva is talking to people with expertise in behavioural...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: Would Aviva also be open to following the practice in Britain which prompts those who renew a policy on four occasions or more to shop around?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: My insurance contracts Bill will come to the Dáil for Report and Final Stages before the end of the year. It is hoped to require all insurance companies to notify their premiums over the past three years, and the claims that have been made, to bring transparency for motor and other lines of insurance. Would Aviva welcome that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: What about the other companies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: We understand that a lead time will be required for information technology systems to facilitate some of this work.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: Only in motor insurance, not public liability.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Pearse Doherty: The witnesses have to acknowledge that the frequency of claims has been reduced by 25% over the past four years. There are arguments the witnesses can make but they need to talk about it in facts instead of spin. I am sorry to interrupt.

Written Answers — Department of Health: Hospital Appointments Status (2 Oct 2019)

Pearse Doherty: 183. To ask the Minister for Health when a person (details supplied) in County Donegal will receive an appointment at Letterkenny University Hospital outpatient clinic; and if he will make a statement on the matter. [40092/19]