News
LMA warns safety fears choking Hormuz not insurance
The Lloyd’s Market Association has hit back at ongoing reports vessels are avoiding the Strait of Hormuz due to cancelled or unaffordable insurance.
AIG’s partnership; Seventeen’s acquisitions; Markerstudy’s CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Government’s deregulation would worsen home insurance outlook
Louise Clark, general insurance policy manager at the Association of British Insurers, has urged the government to reconsider proposals to further relax building regulations following the close of a recent consultation.
Testing phase let down Blueprint Two progress
Lloyd’s Market Association operations director, Joe Brace has claimed the inability to get Blueprint Two o the testing phase was one of the contribution factors as to why the project was ultimately shelved.
Zurich’s Nicholson says tech must enable empathy in claims
Insurers need to strike the right balance between digital efficiency and human empathy in claims handling, according to James Nicholson, chief claims officer of Zurich UK.
Go Compare head warns insurers about rushing into using AI
Hoodi Ansari, director of data and operations for Go Compare, has issued a warning to insurers about acquiring the latest technology for customer support.
ChatGPT delivers fourfold conversion uplift for insurer
Traffic generated through ChatGPT is converting at four times the rate of traditional search engines, signalling a major shift in how customers buy insurance, according to Juan Garcia, co-founder and co-CEO of Tuio.
ManyPets CEO warns pet insurance is at inflection point
Luisa Barile, group CEO of ManyPets, has warned pet insurance is at an inflexion point when it comes to profitability, meeting customer expectations and artificial intelligence changing how policies are purchased.
Zego reduces costs by 20% with rewards
Zego has seen a 20% reduction in its cost of service as a result of rolling out rewards for safer drivers.
Applied CEO outlines UK exit and future growth plans
Applied Europe’s CEO Tom Needs recalls why the business pulled back from UK, is going great guns in Ireland and how RiskHandler, Ratings Hub plus AI mean it still has a bright future.
Mindset shift needed to handle complex home insurance claims
With eco-builds, smart homes, and modern construction, claims are more complex than ever, requiring insurers, contractors and clients to rethink risk and prevention, according to experts at Insurance Post’s Claims Club.
Lloyd’s confirms pulling the plug on Blueprint Two
Lloyd’s has today (19 March) confirmed it has decided to “sunset” Blueprint Two.
Allianz transformation boss admits AI scaling difficulties
Allianz UK chief transformation officer Jason Howes has stressed the difficulty in delivering artificial intelligence solutions at scale.
Intact bringing US surety play to UK market
Intact Insurance is bringing its North American surety proposition to the UK as part of wider ambitions to scale its specialty lines business, hiring former Allianz Trade head of surety and guarantee David Weale to lead the expansion.
Dark kitchens, 50mm hailstones and urban wildfire join risk list
New risks posed by societal, environmental and climate change, including dark kitchens, urban wild fires and 50mm hail stones, were highlighted during a joint meeting of the Post Claims and Underwriting Clubs last week in London.
MoneySuperMarket partners to offer discount to frontline workers
MoneySuperMarket and Blue Light Card have today (18 March) launched a co-branded car and home insurance comparison journey for frontline workers.
Sicsic expands reach of regulatory consultancy
Former regulator Michael Sicsic has outlined plans to expand Sicsic Advisory as the business looks to build on the growth it has achieved since its launch in 2019.
Cytora launches agentic AI product to manage mundane workloads
Cytora has launched an agentic artificial intelligence product targeting the mundane tasks underwriters and claims handlers have to carry out.
Soft market underpricing sparks insurer ‘accidents’ warning
Insurers have been warned there are accidents “waiting to happen” if they continue to make volume a priority over discipline in the soft market.
Adiona founder and CEO Paul Harvey passes away
Paul Harvey, founder and CEO of motor insurance insurtech Adiona, has passed away.
FCA and FOS reveal plan to speed-up complaints handling
The Financial Conduct Authority and Financial Ombudsman Service have today (16 March) set out plans to overhaul the UK’s consumer redress framework.
Alps’ landlord support; Pen’s PI expansion; QBE’s partner
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
MGAs will ‘welcome’ heightened watchdog interest
Mike Keating, CEO of the Managing General Agents’ Association, has said heightened regulatory interest in the sector is not surprising considering its growth momentum.
Vitality offers cut-price weight loss jabs with Boots
Health insurer Vitality is offering policyholders discounted weight loss jabs and coaching through Boots Online Doctor.