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I think we focus too much on Travel, which is a much smaller revenue-driver than insurance. The below will be a big issue for Saga, who rather rely on people not using aggregator sites and instead getting more and more expensive insurance renewals. Wonder how this will affect the three-year deals? Forgive me if this has been dissected ad nauseum in past threads.
“There is a new regulation from the Financial Conduct Authority (FCA). For all motor or home insurance renewal quotes generated on or after 1 January 2022, the price you pay will be the same or cheaper than if you were a new customer with us for a like-for-like policy.”
Where saga began...
https://www.kentonline.co.uk/kent/news/how-one-man-built-a-travel-empire-243059/
This is so fascinating. I wondered how we the ‘little people’ might be able to stop Saga shares from being shorted, if necessary. I found this, Investopedia I think...
“All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double today's price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes.”
One of the many underlying issues with Saga is that the new BOD don't understand their own brand.
Saga was always for properly old people - not vibrant 50somethings. The brand was a butt of jokes but they were affectionate. And look at the vast wave of old people that had been coming their way - if only they hadn't tried to aim at a younger market.
The effect seems to have been to alienate their core customers who now see the brand they once loved and trusted as not wanting them on board (literally). Hence they've switched off from their previous strong engagement. No one knows who Saga is for these days - the chairs moved apart and the customers fell down the gap in the middle, so to speak.
And it's pretty clear that 50/60 somethings have become no more open to the Saga brand than they were in the past. Plus everyone on the planet is marketing to that age group. Why target a strong brand away from a strong market and try to make it groovy, baby? Look at the demographics...
The company never really did understand the importance of brand marketing - look at the rather tragic and expensive range of 'rebrands' they've trotted out over the past few years.
It's not just insurance pricing and a competitive market: the issues run deeper than that.
Is anyone here entitled to file one? Seems PIs cannot. https://www.fca.org.uk/markets/market-abuse/suspicious-transaction-order-reports