Co-operative Insurance
Co-op's GI business incurs £17m loss due to costs of IBM deal
The costs associated with the £55m deal with IBM to build an integrated insurance platform were behind Co-op general insurance's £17m operating loss in the first half of 2015.
Co-op to launch new products in 2016 after IT overhaul
Cooperative Insurance Services has been “playing catch-up” after years of under-investing, but additional financing and the replatforming of its insurance business have laid the groundwork for product growth, according to the firm's director for product…
Innovation Group plots to double software arm to £100m
Software solutions and outsourcing provider Innovation Group has outlined its intention to grow its software division to £100m in value in the next three years.
Insurers sticking by Autoglass in wake of consumer criticism
Insurers that maintain commercial partnerships with Autoglass have vowed to work alongside the embattled windscreen repairer to address criticism of the firm’s service levels following its decision to scrap its branch network.
CIS eyes 'role changes' following £55m tech deal
Co-operative Insurance Services has confirmed to Post there will be some “role changes” following the firm’s £55m deal with IBM to build an integrated insurance platform.
Digital strategy key for Co-op after 'transition' year
The 2014 financial year was “a transition year” for The Co-operative’s general insurance business as it took action to improve its loss ratio, according to chief financial officer Kieran O’Keefe.
Co-op reports insurance loss for 2014
The Co-operative's insurance division struggled in a "difficult market" and posted an operating loss of £7m for 2014, compared to a profit of £36m the previous year.
Co-op GI operations head Day to exit
Co-operative Insurance general insurance operations head Lynn Day is to leave the business after 33 years, Post can reveal.
Voluntary code mooted to tackle automatism loophole
Insurers should consider adopting a voluntary code to ensure injured policyholders are compensated even in situations where negligence cannot be established, according to the firm at the centre of an automatism loophole dispute.
90% of 2013/14 winter flood and storm claimants satisfied with service
Nine out of ten customers that made a flood or storm claim last winter were satisfied with the way it was handled, according to a study by the General Insurance Market Research Association.
Roundtable: Digital culture: ‘This is an industry taking action’
How can companies build digital cultures that maintain their relevance in the insurance market of the future? Post, in association with Accenture, invited specialists from a range of insurers to assess this critical issue
Roundtable: A step backwards in the fraud fight?
With EU data protection legislation likely to impact insurers’ anti-fraud measures, key figures from the sector discuss whether the reforms represent a critical blow to their efforts or just a bump in the road?
Top 100 UK Insurers: Brand analysis: Ups and downs
Despite positive results for some, the value of many UK insurance brands has been hit by geopolitical risk, loss of faith and reputational issues
Co-op Insurance plummets to ‘disappointing’ £7m loss
The Co-operative Insurance has swung to a £7m loss for the first half of 2014, performance described as “disappointing” by chief executive Mark Summerfield.
Blog: Five insurance narratives worth following for the rest of the year
So far in 2014 we have seen a number of major developments and loose ends seemingly tied up.
Motor customers paying up to 90% APR for monthly instalments
Motor insurance customers are being charged annual interest rates of up to 90% for choosing to pay in monthly instalments rather than an annual sum, according to research.
Roundtable: Telematics: The future of motor?
To date telematics has been used for niches such as young drivers but, with providers making further advancements all the time, will this be the case in the future?
Dual hires interim Co-op finance boss Elston as CFO
Hyperion underwriting arm Dual has appointed the Co-operative Group’s interim finance director for cost performance Andy Elston to the position of chief financial officer.
Regional Review: Manchester
Ask a member of the Mancunian insurance workforce what the benefits of being located in the city are and they’ll likely respond with: “Where do I start?”
Co-op insurance profits up ten-fold despite 'disastrous' year
The Co-operative has seen insurance profits leap upwards in 2013, with the mutual attributing the boosted results to improved claims experience and strong performance of its home portfolio.
Co-op adamant sale uncertainty did not hurt business
Senior insurance bosses at Co-operative Insurance claim uncertainty around the sale of the business did not impact momentum within the company last year.
Co-op Insurance to offer help for flood victims
Co-operative Insurance has launched a package of measures to help customers that have been impacted by the recent floods including advice on home repairs.
Insurance lessons from the Reverend
I've been waiting for commentators in the press to ask questions about what the revelations surrounding the Reverend Flowers late last year has meant for our industry. But so fat, there appears to have been silence on the subject.
ABI confident insurers will get behind its personal injury code of conduct
Code aims to combat perception of insurers exploiting PI claims.