News
Coversure’s latest addition; MS Amlin’s AI tool; PwC’s insurance lead
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Kalepa’s Monasterio says £55m funding will aid its London presence
Kalepa’s CEO and co-founder Paul Monasterio said its latest investment will be used to enable “true” AI decision making in the London market where it plans to open an office in the coming months.
AM Best identifies three forces shaping insurance in 2027
Cyber-attacks similar to the recent incidents affecting European supermarkets could shape insurers’ fortunes in the year ahead, according to Greg Carter, managing director of analytics for EMEA and Asia Pacific at AM Best.
Lloyd's Turk fears insurers are sleepwalking into irrelevance
Rachel Turk, chief of performance and strategy at Lloyd’s, has warned the insurance sector risks losing relevance if it fails to meet clients’ changing demands.
Pet insurance prices fall 14% as competition intensifies
Competition among pet insurers is driving down premiums, with prices falling by 14% year-on-year, according to Defaqto.
Ageas pauses pet insurance quotes as it continues cautious entry
Ageas has paused the sales of the outsourced direct pet insurance products it currently offers, but is still allowing existing customers to renew.
Allianz Commercial launches underwriting syndicate at Lloyd’s
Allianz Commercial has today (5 November) announced plans to establish a new direct underwriting syndicate at Lloyd’s.
Zurich UK uncovers £109m in fraudulent claims
Zurich UK has uncovered £109.3m in fraudulent insurance claims over the past 12 months, with an average of a fraudulent claim discovered every two hours.
JLR’s Bartlett-Shaw on driverless cars and Chinese manufacturers
Collaboration will be essential to create “seamless” customer experience needed for driverless cars and competition form Chinese manufacturers said Jaguar Land Rover’s insurance product manager Samantha Bartlett-Shaw.
SSP acquires IS2 to expand into production distribution
SSP UK & Ireland has acquired the commercial lines insurtech IS2 to extend into product distribution as its “first major acquisition” since becoming a separate business entity.
Lloyd’s shakes up oversight operations
Lloyd’s has brought all elements of oversight into one function, which will be overseen by Rachel Turk as Caroline Sandeman-Allen exits the London market after more than two decades.
Munich Re CEO ‘singled out’ by protesters at Innovators Summit
Environmental protesters have targeted Munich Re’s CEO, Stephanie Ogden, through the use of posters on disused phone boxes as the campaigners said they will now target high-profile executive figures.
Munich Re’s Ogden argues industry will unite on tech-driven disruption
Munich Re CEO Stephanie Ogden said one positive of a more volatile tech-driven market is that it will force the industry to come together, as she said the next evolution with AI is a shift in employee skills.
Compare the Market adds temporary car insurance proposition
Compare the Market has launched a temporary car insurance proposition with a new panel of insurers.
Sheila Cameron to step down as LMA CEO
The Lloyd’s Market Association has today (4 November) announced that Sheila Cameron will step down from her position as CEO early next year.
ManyPets calls for two-fold approach to agentic fraud
Fraudsters have been using agentic AI to obtain multiple quotes in large numbers and must be tackled by using firms own data as well as quarantine models said ManyPets’s chief data officer Pierre du Toit.
Ageas targets next generation of insurance customers through ChatGPT
Ageas has highlighted the potential of using ChatGPT as a new channel for reaching motor insurance customers in a bid to target the evolving wave of consumer buying behaviour.
Amdocs buys EIS as insurtech giants consolidate
Major software and services provider Amdocs has entered the insurtech space by snapping up EIS for $340m (£250.14m) up-front, with further payments tied to the business achieving certain performance targets.
Davies cuts greenhouse gas emissions by 36%
Davies Group has decreased its total greenhouse gas emissions by 36% in the last year, Insurance Post can exclusively reveal.
Aviva’s Cunningham tackles translating fraud for boards
Kat Cunningham, head of underwriting counter fraud at Aviva, said insurers need to change how they discuss insurance fraud with their boards, shifting the focus from operational performance to its wider business impact.
Axa’s Walker outlines growth models for next decade
Axa Insurance UK's CEO Jon Walker has urged insurers to engage in dialogue with the government and regulators to ensure “predictable and proportionate” regulation, plus identify at-risk SMEs to ensure growth.