News
RSA targets 30-minute quotes using AI-driven platform
RSA is aiming to be able to quote business within half an hour of a broker sending it a submission within two years, the insurer’s UK and international CEO Ken Norgrove has said.
Galjaard cautious of history repeating itself with returning competition
While he hopes the market has matured in the last few years, Markel’s managing director for the UK, Neil Galjaard, is hoping brokers “have long memories” of providers that exited markets when things got tough.
MGAA looking at increasing Lloyd’s syndicate membership
Managing General Agents’ Association CEO Mike Keating has revealed he is in discussion with some large Lloyd’s insurers in a bid to bring more syndicates in as members.
Insurers must stay ‘live’ to broker tech capability
Natalie Ferrigan, head of distribution at QBE, has told Insurance Post that firms must keep tabs on where their partners are in the tech development journey.
Shortlists revealed for Best Insurance Employer categories for 2025 BIAs
Today we can reveal the shortlists for the Best Insurance Employer categories, ahead of the winners being announced at the Royal Albert Hall on the 9th July.
Biba attendee seeks justice after payment fraud
A delegate at last week’s British Insurance Brokers’ Association conference is seeking justice after finding out dozens of people used his bank card to pay for their parking.
Acrisure valued at $32bn following Bain Capital-led funding round
US-based Insurtech Acrisure has secured $2.1bn in fundraising from a Bain Capital-led funding round, according to its founder and CEO Greg Williams.
Recent power cuts highlight coverage disparities
Recent high-profile power outages demonstrate the importance of policyholders ensuring the cover they have in place is fit for their business’s purposes, Fenchurch Law managing partner Joanna Grant has told Post.
Only 7% of businesses adopt parametric flood insurance
Just 7% of businesses have included a parametric insurance solution in their flood risk financing programme, according to research from Previsico and Airmic.
Ageas to keep Esure and Saga brands
At a time when many heritage brands are on their way out, Ageas UK CEO Ant Middle has told Insurance Post that both the Esure and Saga brands it has bought are to set to stay.
Aviva targets midmarket with updated multinational proposition
Aviva has expanded its multinational capability, widening its appetite to businesses with a turnover of up to £250m, Insurance Post can reveal.
FCA defends decision to ditch insurance CPD
The Financial Conduct Authority has responded to concerns that if it pushes ahead with the proposal to ditch the requirement for 15 hours of continuous professional development a year there could be an uptick in the number of insurance employees lacking…
Zurich targeting 30% SME growth in 2025
Nikki Lidster, head of SME and trading at Zurich UK, has revealed the insurer is targeting 30% GWP growth in its SME business in 2025.
Markel’s Galjaard outlines plan to double the UK business
Markel’s UK managing director Neil Galjaard shared the business has just signed off a growth strategy that aims to double the size of the business by 2030.
Allianz invests £750m in three years amid commercial ‘re-platforming’
Nick Hobbs, chief distribution officer at Allianz Commercial, has told Insurance Post that the insurer has invested three-quarters of a billion in changes in the last three years, including re-platforming its commercial business.
Aviva and CyberCube track cyber attackers’ behaviour
Aviva and CyberCube are using artificial intelligence to map the behaviour of cyber threat actors and identify what businesses could soon be attacked.
Insurance figures richer than The King revealed
Admiral’s founder Henry Engelhardt is now the richest man in insurance, according to this year’s The Sunday Times Rich List.
McLarens aims for net zero by 2050
McLarens has committed to achieving net zero carbon emissions by 2050 in its inaugural ESG Impact Report.
AI will have a greater role to play in claims despite initial hesitancy
While the insurance sector has reservations about artificial intelligence being used to decline claims and determine liability, the technology is going to have a greater role to play in claims, including larger ones.
Ardonagh’s rebrand; Google Cloud’s expansion; Insure Your Paws’ product
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Yutree MD optimistic for the future of independent brokers
Laura Hancock, managing director of Yutree Insurance, claimed brokers can have the “best of both worlds” – being financially successful and independent – as she urged independent brokers to not give up.
FCA hopes firms will gain confidence with fewer rules
The Financial Conduct Authority has said how it hopes firms build confidence in their knowledge of customer service and outcomes, as opposed to a “tickbox” exercise again.
Tiernan calls out ‘egregious trading behaviours’ at Lloyd’s
Incoming Lloyd’s CEO Patrick Tiernan has called out examples of “egregious trading behaviours”, saying that he currently has “cause for concern, but not alarm.”
‘Don’t preach to us’, pleads Pen CEO
The key to a productive capacity partnership is allowing the MGA the freedom to act independently, delegates at the British Insurance Brokers’ Association’s conference heard.