News
UK holidaymakers put safety first amid Iran war
Geopolitical tensions have made UK travellers prioritise health and safety abroad over finding the cheapest travel insurance policies, according to a survey from broker AllClear Travel Insurance.
Compare the Market says launching ChatGPT app was ‘easy part’
Compare the Market’s chief operating, technology and data officer Sam Jones has told Insurance Post building a ChatGPT app is easy, it's “the stuff underneath” that is the difficult bit.
Hybrid warfare drives rethink of terror and war coverage
Insurers face mounting pressure to redefine exclusions and pricing as cyber warfare, sabotage and misinformation reshape global risk, according to participants in a panel discussion during London Risk Week.
‘Inappropriate behaviour’ against LGBTQ+ peers in insurance doubles
A survey from Link has found that ‘inappropriate behaviour’ against LGBTQ+ individuals within the insurance industry has doubled in recent years as fewer colleagues are coming out of the closet.
Slight dip reported in number of brokers actively recruiting
Nearly three quarters of brokers are currently recruiting for new employees, according to Aviva’s latest Broker Barometer.
UK insurance chiefs’ demand for AI tools driving M&A plans
More than a quarter of insurance company chief executives have said an appetite to boost their artificial intelligence toolkit is driving their acquisition plans, but some are struggling with resistance from staff, according to a new survey.
Long-standing insurtech CEO replaced in new expansion push
Previsico chief executive Jonathan Jackson has been replaced as the insurtech enters what it has described as its next phase of growth with its sights set on expanding in the UK, the US and beyond.
Aviva bets on ChatGPT becoming major sales channel
Aviva expects artificial intelligence-led distribution to become a “material” sales channel for the insurer within the medium-term after becoming the first major UK provider to launch a ChatGPT app.
Over a quarter of insurance buyers strongly against AI use
Just over a quarter of UK consumers are very resistant to artificial intelligence being used in the insurance sector, according to a new survey.
Guidewire’s InsurPitch crowns first joint winners
A ‘wallet studio’ firm and a company seeking to connect vertical SaaS platforms with providers were the first joint winners of Guidewire’s InsurPitch.
Open GI’s partnership; Axa’s climate platform; Biba’s fresh face
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Allianz Broker ‘punching below its weight’
Allianz Broker’s managing director, Glyn Hughes, has said the business is “punching below its weight” at the moment and has come in with “high ambitions”.
Allianz Partners enters travel gadget market
Allianz Partners has signed a long-term partnership with travel broker Coverwise to launch gadget protection for UK travellers.
Pothole damage continues to cause headaches for brokers
Potholes are becoming are becoming big problem for UK drivers, in turn giving brokers and claims teams a headache.
Beazley leaning on data-driven underwriting in soft market
Beazley is increasingly pushing a data-driven underwriting approach for SME cyber cover in order to maintain discipline in a soft market.
Page and Kielty to step down as Aon CEOs
Aon has announced the appointment of two co-CEOs for EMEA, meaning both Julie Page and Jane Kielty are to step down as CEOs.
Acrisure blames AI for slashing 2250 jobs
Acrisure is cutting around 11% of its global workforce, after chief executive and co-founder Greg Williams told staff advances in artificial intelligence and technology are reshaping how the business operates and serves clients.
House of Lords to probe insurance market
The House of Lords Financial Services Regulation Committee has today (21 May) launched a new inquiry on the regulation of the UK’s consumer insurance market.
Axa aims to double schemes business
Sarah Mallaby, chief distribution officer and mid-market trading director at Axa Commercial, has revealed the provider is looking to double its schemes business as the firm looks to become a “£2bn business”.
Tokio Marine could deploy $10bn in M&A over next 18 months
Brad Irick, managing executive officer and co-head of international business at Tokio Marine Holdings, has said the business can deploy $10bn (£7.4bn) in M&A transactions over the next 18 months.
Allianz’s Ktenidis looks to ‘dial up’ digital offering
Allianz Commercial’s new chief distribution officer Alex Ktenidis has told Insurance Post that he is looking to “dial up” the digital offering of the insurer.