News
ABI fire safety facility tops £19.6bn in year two
The Association of British Insurers has capped off a second year for its Fire Safety Reinsurance Facility, announcing a total sum insured of £19.6bn for the 12 months to the start of April.
FCA looking to address issues on claims definitions
Andrew Ruddle, the Financial Conduct Authority’s interim head of the department for insurance market analysis and policy, has said the regulator is looking at addressing issues about different claims definitions within insurance.
McGill says AI’s ‘best’ productivity gains come second time around
Revisiting already artificial intelligence-powered processes has unlocked even greater efficiency gains than the original implementation, McGill CTO Simon Bradbury has said.
Hiscox CTO says Microsoft AI pricing still unclear
Hiscox’s chief technology officer Ian Wrigglesworth reveals he has not been able to get clear pricing from Microsoft’s new agentic Copilot Cowork as he says being skilled in data will be the key function for future AI managers.
Dual’s Leavey says HR is key to unlocking AI’s 1600-hour savings
Dual has saved 1600 hours a month using artificial intelligence assistants during the MGA’s first phase of adoption. Director of transformation Louise Leavey argues HR will play a fundamental role in helping employees reshape their jobs as the technology…
Aviva refreshes mid-market proposition following commercial ‘refocusing’
Aviva has launched Aviva Premier, a proposition designed for larger mid-market clients with complex risks, following a “refocusing” of the insurer’s commercial business.
Allianz reportedly circling AA with £5bn bid
Reports have suggested that Allianz is lining up a potential £5bn bid for roadside assistance firm AA.
Pen’s capacity; Clear’s Lloyd’s acquisition; MS Amlin’s head of cyber
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Tokio Marine HCC acquires Direct Commercial
Tokio Marine HCC International has signed a definitive agreement to acquire UK commercial motor MGA Direct Commercial.
Esure and Acromas bolster Ageas’ UK performance
Following the acquisitions of both Esure and Acromas, Ageas has revealed its UK inflows have increased by 72%.
Zego puts AI at heart of next phase of growth
Zego has unveiled plans to deepen its product offering across all four of its UK motor verticals in the year ahead and “lead the insurance industry” on artificial intelligence adoption.
Sixfold brings AI underwriting into Salesforce workflows
Sixfold has partnered with PS Advisory to bring its artificial intelligence underwriting capabilities directly into Salesforce.
Axa to add SME terrorism cover at no extra cost from November
Axa UK has confirmed its intention to add terorrism cover to its intermediated digital SME business from November, with the insurer planning to absorb the additonal costs.
Rokstone eyes more M&A as it targets further growth
Rokstone is set to explore further merger and acquisition opportunities as the MGA looks to build on organic growth and expand its underwriting capabilities in the year ahead.
Marco Capital plans to ‘industrialise’ London market with ProGlobal deal
Marco Capital’s planned acquisition of Pro Global merges the business with PoloWorks into a single integrated insurance services platform, with the combined unit aiming to “industrialise” London market data.
Automatic claim payouts key to embedded insurance growth
Demand for embedded insurance is outpacing its availability, as three-quarters of almost 1,400 consumers polled revealed they would buy more protection if claims were paid automatically.
Aviva beats Axa to standardise terrorism cover across digital SME
Aviva has announced that its digital SME products will be buffered by terrorism protection, supported by Pool Re’s SME incentive scheme.
Zurich warning as plug-in solar panels launch across UK
As UK households are allowed to install plug-in solar panels for the first time from Thursday (27 August), Zurich has warned homeowners need to ensure their property’s electrical system is up to the job.
Mea’s Richter on how AI can help firms manage ‘peak season’
Artificial intelligence can potentially help firms manage their peak season workloads, according to Max Richter, global growth leader at Mea Platform.
Allianz Commercial hires AIG’s Woolley as UK president
Allianz Commercial has hired Emma Woolley as president of Global Specialty and UK Region.
AI will transform industry by improving IT maintenance
The biggest change to the use of technology within insurance will be how AI is used to make savings on system maintenance and create more opportunities, say EIS’s Sara Perez and David Walsh.