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FCA pressed by Lords over regulating ChatGPT
The Financial Conduct Authority has been challenged by peers over whether artificial intelligence platforms such as ChatGPT should be brought within the regulator’s remit.
Aviva uses AI to identify £800m in underinsurance
Aviva has said it has used artificial intelligence to identify around £800m of underinsurance, as director of innovation Jason Chambers says clear controls are even more necessary as the technology becomes agentic.
To AI or not to AI is not the question in underwriting
Rory Yates, managing director for insurance at Synechron, examines how artificial intelligence is impacting underwriting.
Insurers must govern AI as aggressively as they adopt it
Hakob Astabatsyan, co-founder and CEO of Synthflow AI, explains how addressing artificial intelligence-driven fraud requires a tailored response that combines technology, process and culture.
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.
Latest
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.
FOS believes it is still 'too soon' to judge Consumer Duty impact
It is too early to determine whether the Consumer Duty has reduced complaints about home and travel insurance, the Financial Ombudsman Service has told peers.
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.
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.
Why Britain’s e-scooter limbo is costing lives and money
Trade Voice: Sue Brown, chair of the Motor Accident Solicitors Society, argues that six years of regulatory dithering over e-scooters has left injured people paying the price, and that further delay is becoming untenable.
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.
Which duo rank as the UK’s top insurance Power Pair?
For her first ever comment article for Post, Penny Black ranks the UK insurance industry's most credible couplings, deal-tastic duos and peerless pairs that are the envy of all their rivals.
Which duo rank as the UK’s top insurance Power Pair?
For her first ever comment article for Post, Penny Black ranks the UK insurance industry's most credible couplings, deal-tastic duos and peerless pairs that are the envy of all their rivals.
Editor’s Choice
Is a gen AI-enabled fraud tsunami heading for multiple business lines?
Amid an escalation of artificial intelligence-enabled fraudulent claims in the home and motor lines, Marcel Le Gouais explores how insurers are ramping up detection measures and collaborating with police to aid fraudster convictions.
Has broker Bennetts set a record with seven owners since 2000?
Content Director’s View: Private equity, consolidators, insurers seeking diversification ... these have all contributed to a boom in M&A and investment in the UK insurance sector since 2000. Jonathan Swift looks at which businesses have – as a result – changed hands the most since the turn of the century.
How insurers are navigating a stormy yacht market
From superyachts to mid-tier pleasure craft, Tom Luckham explores what's driving the yacht insurance market, and whether better tech, data and underwriting is keeping pace with risk.
Protecting panting pets from overheating in heatwaves
As the UK swelters through heatwaves, Scott McGee discovers insurers are seeing signs that soaring temperatures are changing the nature of pet claims and prompting renewed focus on prevention.
Insurance matrix
Energy leaders say insurance is ‘essential’ to their business
Energy business leaders view insurance as essential to their business and reckon insurers’ importance will grow, according to new data gathered by Reuters Insights and Axa XL.
Parametric benefits gain traction in travel insurance
A growing number of providers are introducing automatic flight and baggage delay payments as demand for faster claims solutions increases, according to Anna-Marie Duthie, insight consultant for general insurance at Defaqto.
Home insurers with the most satisfied customers revealed
Customer trust and satisfaction in home insurance is improving, but Fairer Finance’s latest consumer survey shows claims handling remains weak and vulnerable customers continue to face the poorest outcomes.
Insurance industry’s most powerful leaders revealed
Insurance Post’s Power List cuts through the noise to reveal who really moved markets, shifted outcomes and shaped the UK general insurance sector over the last 12 months.
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