Clearer renewal information for our customers

In line with recent Rules & Guidance published by the FCA we are making changes to the way that we communicate with you and your Aviva personal lines customers at renewal stage.


In August 2016 the FCA published its final policy statement“PS16-21" Increasing transparency and engagement at renewal in general insurance markets. This document promotes price transparency to ensure insurance customers know exactly what they are paying, encourage customers to shop around for better cover / price. We agree that it’s important to provide price transparency to ensure our customers know they are receiving the right level of cover for them, at the right price.


There are three key requirements as shown in the Guidance paper above, to be implemented by 1 April 2017.

In line with this, we’re making the following changes to our customer’s renewal invite:


  • Last years premium or annualised cost following mid-term adjustment (excluding associated fees and charges) will be stated prominently on renewal communications so that it can be easily compared with the premium to be paid by the customer on renewal.
  • Will include a statement on renewal (years 1-3) encouraging the customer to check that the level of cover they receive still matches their requirements and that they are able to shop around if they wish.
  • On the fourth renewal (and beyond) the prescribed statement “You have been with us a number of years. You may be able to get the insurance cover you want at a better price if you shop around” will be included within the renewal invite.


These changes apply to all personal lines products including "Your Van". Commercial lines are out of scope.


What changes are being made?

Our systems and documents, and broker software house systems and documents will be updated to provide the information as referenced above, from 1 April 2017 i.e. last year’s premium/mid-term adjustment premium and appropriate messaging by tenure. We are working closely with Polaris to ensure that we support the delivery of these new rules.

If you have any questions relating to the above, please contact your Aviva sales manager.


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