Punished by 'big data', drawdown charges and risky mortgage lending - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
How big data is punishing you "Just as insurers claim to be cleaning up their act, we reveal their sneaky new tactic to make many customers pay extra." So begins this Mail on Sunday article, which claims the insurance industry is "pulling the wool over customers' eyes" after it recently promised to end discriminatory pricing - where loyal policyholders pay more than new ones for the same cover. The source for this claim is an anonymous expert - a leading consumer representative in regulatory circles, says the paper - who believes insurers are giving the illusion of bringing in better p...
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