Talk Morgan Forums Thread Like Summary - Loyalty

I have just decided to change my phone plan to a new provider. While changing my SIM I had a technical issue, and had to call my current provider, who asked why I was changing, too which I replied, the new provider offered a lower cost plan, he then suggested, if I could hold for a couple of minutes, he may be able to offer a better deal. His offer was indeed lower, but not competitive has my new supplier, so I declined.

I then changed the conversation to loyalty. And asked, why now do they view me as valued customer worth retaining. Then I had silence.

New customers always receive better deals, specifically when dealing with, insurance, energy and phone plans. Unfortunately, this is now a yearly ritual, I will not be a cash cow for corporate greed.

Insurers are no longer allowed to offer preferential terms to new customers.

“Understanding the New FCA Regulations
These regulations prohibit insurers from charging existing customers more than they would for a comparable new customer. The primary goal is to end the so-called 'loyalty penalty' that penalised long-term customers for their fidelity.”

I would like to see that in my country too.