Uncompetitive motor premium rates

Dear Mr. Tan,
Recently my Motor Insurance was due for renewal with NTUC Income. I rang the customer service with the intention of renewing my insurance. I was shocked to learn that it has increased from $690 to $815 after 50% NCB and 5% direct discount and 5% loyalty discount.

When I asked if the premium can be lowered since I have been insuring with NTUC Income for 8 years, I was told it was company's policy and the premium is fixed. I then called AA and was offered a premium of $766 with another insurance company.

My question is why can't NTUC look at the insurance coverage of each individual and fix the premium. All my family insurance are covered by NTUC Income, yet I find NTUC Income to be rigid and does not consider the loyalty placed by an individual
Can I have your comments?

REPLY
I suggest that you pass the feedback direct to the new management of NTUC Income. You can send to sq@income.com.sg.

I also experienced a large increase in premium on my wife's motor car recently. I was able to get a much lower premium rate from another insurance company. I decided to move my motor insurance to the new company, in spite of having insured with NTUC Income for many years, without any claim.