News
Axa’s bodycams; Pen’s box at Lloyd’s; Utility Warehouse’s CEO steps down
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Pete Allchorne elected Foil president
Pete Allchorne, partner at DAC Beachcroft, has been elected president of the Forum of Insurance Lawyers.
Allianz suing Revolut for £10.4m over axed travel insurance deal
Allianz is suing Revolut for £10.4m, alleging that the neobank breached its obligations under a deal it struck in 2021 for Allianz to provide travel insurance to Revolut customers.
Insurers urged to back more British environmental reinstatement projects
As biodiversity loss reaches an all-time high, insurers are being asked to consider reallocating funds to help ‘direct action’ projects in the UK to support the country’s depleted ecology.
Hackers issue Sabre with ransom demand following cyber attack
The hacking group behind Sabre’s cyber attack last week has issued the insurer with a ransom demand and given a deadline for which to respond.
Tories announce captive insurance consultation
A consultation on whether to establish a regulatory framework for captive insurance companies will be launched next Spring, according to the Autumn Statement.
Sabre suffers cyber attack
Sabre has today revealed it was subject to a cyber attack last week, however it believes no sensitive data was accessed.
Atec Group chief reveals plan to grow business
Brendan Devine, CEO of Atec Group, has told Insurance Post the foundations are in place to achieve £25m in turnover in 2024 with growth coming from non-standard home insurance.
Sabre chair Andy Pomfret passes away
Sabre has announced that its chairman and McGill and Partners director, Andy Pomfret, passed away at the weekend following an illness.
Insurtech Excellence Award winners 2023 unveiled
The category winners in the Chartis Insurtech Excellence Awards have been announced.
Jail time for claimant who forged daughter’s birth certificate
QBE Insurance, along with Keoghs, have successfully pursued 20 counts of contempt against a claimant who falsely claimed damages of £600,000 following a workplace accident.
Tokio Marine reveals risks faced by London
London’s future is threatened by more extreme flooding and failure to keep pace with technology, according to a new study, with Tokio Marine arguing insurers should help the city prepare for cybersecurity and artificial intelligence developments.
Guidewire looking to London market for growth
Guidewire bosses expect Blueprint Two, the second phase of Lloyd’s digital-transformation strategy aimed at overhauling the way the London market operates, to further accelerate the insurance industry platform provider’s growth in 2024.
Covéa’s Callan appointed retail MD for Brown & Brown
Brown & Brown has appointed Callan as managing director of its Retail Division. Callan previously served as Commercial Lines Director at Covéa before leaving in July.
AssuredPartners’ double swoop; LMA and Liiba’s collab; Pen’s IP proposition
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Hiscox on the limitations of AI technology
Regulations, accuracy and ensuring humans are kept accountable are some of considerations insurers have been warned to factor in to ensure success with artificial intelligence.
Armilla to tackle AI screw-ups with warranty product
Insurtech start-up Armilla AI has launched an AI product warranty to give companies protection and peace of mind against the risk of issues with the technology.
Professional indemnity insurers raise AI worries
Around two thirds of UK professional indemnity insurers believe the use of AI by professional services firms is increasing their risk of practice, according to a survey by Clyde & Co.
Insurers and Ukrainian government to split Black Sea shipping risks
Ukraine has struck a deal with Marsh and insurers at Lloyd’s to set up a public-private partnership providing cover for Black Sea grain shipments.
Five key takeaways from Post's AI roundtable
Insurance Post recently gathered together a group of insurance technology experts to discuss the rapid rise of artificial intelligence and how insurers need to position themselves to respond to the changing business landscape. Frances Stebbing recounts…
Marsh helps insurtech to train AI tool ahead of open market launch
AntWorks, a specialist in intelligent document processing, is targeting commercial insurance companies with the launch of Insurants.
ManyPets completes flurry of executive hires as CEO Eleazu departs
ManyPets has a new line-up for its UK executive team, as CEO Oke Eleazu announces he is to leave the business, Insurance Post can reveal.
Verisk on testing generative AI platforms
Chris Sawford, Verisk's managing director of claims for the UK, discusses what makes an artificial intelligence trial successful and how the technology helps insurers achieve operational efficiency.
Kennedys IQ on using AI for ‘highly complex’ claims
Karim Derrick, chief products officer at Kennedys IQ, shares how the company is using artificial intelligence for complex claims documents.