This month: Discount rate, driverless vehicles and digitalisation

Post December 2019 cover

As 2019 draws to an end, everyone is thinking about what the new year may hold for them, whether it's an exciting new job or simply committing to some small lifestyle changes. One person who has set some plans in motion for 2020 is former Zurich and Axa boss Amanda Blanc, who has landed two non-executive roles.

Amanda is to join Aviva as a non-executive director early next year as well as joining specialist motor insurer ERS in a similar capacity. 

Also in people moves, Chubb has promoted Louise Joyce to head of industry practices and Arch has appointed Stuart Danskin as UK regional underwriting director. 

The December issue of Post looked at the Scottish Discount rate, which will remain at minus 0.75%, with payouts in Scotland set to be significantly higher in England and Wales prompting fears of forum shopping. 

Also in analysis we examined autonomous vehicles in the marine cargo market and the implications for insurance, and the challenges facing managing general agents despite the potential for huge growth in the sector.

We also looked at what insurance does and should cover in cases like the recent Whaley Bridge incident where emergency evacuations as a precautionary measure may take place.  

Our profile interview this month was William Stovin, president of Markel International who spoke to Jen Frost about Brexit opportunities and the company’s acquisitive strategy over the years. While this month’s rising star is Horwich Farrelly’s Katie Williamson who is on the path to qualifying as a solicitor. 

On both roundtables in this issue the discussions centred around digitalisation. Our first roundtable looked at whether insurers are being held back by their legacy systems and our second explored the future delivery of personal lines how demand for cover is evolving in the ever changing digital landscape. 

Meanwhile, Julia Graham, the Association of Insurance and Risk Managment’s deputy CEO and technical director explained why timely planning, good communication and transparency are all essential skills in the current harsh market. And Laura Drabik, group vice-president of business innovation at Guidewire discussed the opportunities and challenges currently facing insurers and insurtechs. 

Our c-suite this month is Global Risk Partner’s Mike Bruce who highlighted client relationships in commercial broking. We also shone a spotlight on credit hires claims which have left insurers facing an increase of claims in excess of £100,000.

As we say goodbye to 2019 David Worsfold looks back at the highs and lows of the insurance market this year and what this has meant for companies. 

That’s all for this week - enjoy the read!

Hiriyti Bairu

Commissioning Editor
@HiriytiPost

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