Data usage in pet insurance has “lagged behind” home and motor, according to Crif UK, and if the sector isn’t able to get a grasp of it soon, the writing could be on the wall.
Aviva’s Global Corporate & Specialty team has revealed how it has been able to develop 20 commercial lines pricing models in just nine months, cutting build time by 75%, after utilising Hyperexponential’s pricing decision intelligence platform, HX Renew.
A report from Bloomberg Intelligence has warned that the margins of UK insurers such as Admiral and Direct Line face a “double whammy” of claims inflation and regulation in 2024.
Proposals to change the way medical reports are sourced and disclosed in road traffic injury claims would be a “backwards step” for the process, according to the Association of Personal Injury Lawyers.
A Hampshire man seeking compensation from Aviva for alleged injuries claimed videos of him taking part in martial arts training during his recovery period actually showed his twin brother.
Aviva is among the insurers lining up a bid for RSA’s personal lines business, according to anonymous sources speaking to Reuters.
The Times has reported that "market chatter" has suggested Allianz and RSA owner Intact, are considering lining up a bid to buy Aviva.
Figures released by Pearson Ham have revealed that home and motor premiums have further increased in the third quarter, as we reach ‘the peak of the pricing cycle’.
Tom Luckham unpicks the Ministry of Justice’s proposals to change medical reporting requirements for road traffic accidents and examines the impact it could have on motor insurance claims.
John Lewis has "temporarily paused offering new policies and renewals on fully electric vehicles", citing repair cost concerns.
A court has granted a confiscation order against a man who was jailed in 2021 following 62 fraudulent insurance claims, ordering him to pay £210,000.
Following a call to insurers from the Financial Conduct Authority to ensure fair value, industry commentators have said that fair value is “simply expected”.
Four out of five claims handlers have suffered second-hand trauma from dealing with distressing claims, such as fatal fires, according to research undertaken by the Chartered Insurance Institute’s New Generation group.
Collaboration is the key to improving climate resilience, according to a panel of experts at the Chartered Insurance Institute’s Shaping the Future of Insurance conference.
The Financial Conduct Authority has written to insurers warning that more action is required in order to guarantee good customer outcomes.
The latest figures from the Association of British Insurers reveal that £782m was paid out in home insurance claims in the second quarter of 2023.
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
Data from Smart Money People has revealed that travel insurance is set to grow by 15% over the next year, the highest growth projection of the top ten insurance policies.
The Ministry of Justice’s consultation into establishing a dual/multiple PI discount rate closed yesterday, with the final decision to be made in July 2024.
Direct Line Group has reported an operating loss of £78.1m for the first six months of 2023, compared with a profit of £197m for the same period in 2022.