Gender pricing storm in a teacup

clock

The gender-neutral pricing saga could just be unnecessary drama, according to Exeter Family Friendly.

The mutual finalised it gender-neutral proposition in October last year.

Its Income 1 long-term income protection plan was the last to be tweaked, bringing its whole proposition in line with gender directive changes.

According to Nick Jones, brand & marketing manager at the friendly, the price went up a little for men and decreased a little for women.

"We did not really get any feedback on it because it was not really that significant," he said.

"There is a lot of talk at the moment about gender pricing and a lot of providers are focusing on price."

Mr Jones said price was important but greater engagement was needed with intermediaries and customers to decrease its importance.

He explained that by bringing everything down to price that task became harder.

"You can argue the pros and cons of the gender-neutral pricing all day but the transparency of the new simple pricing structure brings an underlying current there and keeps it simpler," Mr Jones added.

"The challenge with that really is how providers will be unique following the changes."

Exeter Family Friendly has been developing its products and offering since 2008 when Exeter Friendly merged with Pioneer. But 2012 will mark the end of significant changes to its now-finalised proposition.

Mr Jones said as other providers prepare to switch and change their pricing post-gender directive, Exeter Family Friendly would remain consistent with its current offering.

Author spotlight

Nicola Culley

More on Regulation

IPT receipts hit £1.2bn in November

IPT receipts hit £1.2bn in November

£6.65bn for the year

Cameron Roberts
clock 20 December 2024 • 2 min read
Firms using GDPR as scapegoat for Consumer Duty failures: MorganAsh

Firms using GDPR as scapegoat for Consumer Duty failures: MorganAsh

Risking regulatory action

Cameron Roberts
clock 17 December 2024 • 2 min read
FCA releases best practices for Consumer Duty board reports

FCA releases best practices for Consumer Duty board reports

Focus on data quality

Cameron Roberts
clock 12 December 2024 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read