Price Writer August 2024
Jeremy Keating
Author of "Price Writer: The nine-step method to becoming a highly successful general insurance pricing leader" | Founder of Price Writer | Podcast Host | I empower pricing professionals
Knowledge and skills for great pricing results
Today marks the 232nd day of 2024, leaving only 37 days until the much-anticipated Price Writer Conference. Pricing community building has been a cornerstone of our efforts this year, bringing people together to share, support, and grow. The conference will be the end of the beginning and a watershed moment as we move into a new brighter phase of Price Writer with the launch of the Price Writer training program in October.
Price Writer Conference
Booking?for the?Price Writer Conference must end on the 6th of September or earlier if we sell out of tickets. Do?not delay, book your place today. The conference is on?September 26th at Farmers & Fletchers in the City of?London.A special thank you to our sponsors Quantee and Ascentia Partners.?Read the conference brochure and book your place by clicking the button below.
Book Now ?
PriceWriter Software Directory
Explore our comprehensive directory of Price Software solutions. Whether you're looking for pricing engines, modelling tools, or exposure management systems, we have curated a list of options to meet your needs. Discover the right tools to enhance your pricing analysis and deployment.
PriceWriter Podcast
Martin Ellingsworth - Welcome to our latest episode with our special guest, Martin Ellingsworth, a seasoned expert in data analytics and insurance pricing from California.
Free monthly masterclasses
The masterclass is taking a break for August but we will be back in September. ?? Where: Virtual?? When: Tuesday 17th September? Time: 10:00 to 10:30 AM UK time.
Register ?
Inflation update
???UK CPI inflation stays at the target?of 2.2%.
??The ONS says insurance inflation was 7.5% annually and monthly it was 1%.
?? 2.7% annually for car insurance with prices rising 0.6% in a month.
?? ABI says car is?up only 1% in Q1 2024.
?? Confused says car is higher by 14% on last year. But is down -6% on last quarter.
?? Consumer Intelligence says car is up by 34% to the year ending in May 2024 and down -1.3% for the quarter.
???Maintenance and repairs of personal vehicles is 5.7%.
?? 4.6% for home contents insurance with prices falling 1% in a month.
?? ABI says Home is up by 3% in Q1 2024.
?? Consumer Intelligence says home insurance rose by 41.6% to April 2024.
?? Repair and maintenance of property is at 0.3%.
?? Materials for repair is -0.3%.
?? Tradespeople services are averaging about 0.8%.??
?? BCIS Private Housing Construction Price Index (PHCPI) is 1.7% at the end of Q4 2023.
?? 12.2% for travel insurance with prices rising 7.6% in a month.
?? Holiday inflation is at 7.5%.??
?? Hotels are at 3.2%.
?? UK Camping, holiday resorts, and centres have increased by 9.1%.??
???9.5% for health insurance with prices rising 1% in a month.
???Hospital services are at 7.5%.
???Medical products at 5.0%.??
???Outpatient services are at 4.1%.?
?????Veterinary and other services for pets are at 8.6%.
The OBR forecasts are
?? 2024 Q2 -?2.0%
?? 2024 Q3?- 1.6%
?? 2024 Q4?-?1.4%
?? 2025?Q1 -?1.1%
?? 2025?Q2?-?1.6%
?? 2025?Q3?-?1.6%??
Keating Index?
No Keating Index this month. It will be back in September.?
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Have a better than great day.
Jeremy