What's the point of panels?

Now this may raise the ire of my many friends and acquaintances in networks and various affinity groups, however, it is an important issue that is worthy of wider discussion and also features within the remit of the recent FCA Market Study MS24/1.2. So, what is this issue? The use of panels of insurers. Having operated as a whole of market adviser for almost 40 years I can affirm that being able to use any of the available insurers confers both a business and a moral advantage over those firms that are restricted in some way. Some years back, before gender-neutral pricing, I was appro...