News
Benefits of blockchain championed to slow starters in the UK
The UK insurance industry is "woefully behind" in its take up of blockchain technology, which commentators say will radically change the way insurance contracts and settlements are handled as well as potentially reducing insurance fraud.
UK rivals tipped to benefit from McNamee's AIG exit
The expected departure of AIG's UK managing director Jacqueline McNamee is a “significant loss” for the company and could result in rival firms pegging back last year’s biggest UK insurer, according to market observers.
Insurance debate: Aviva says it's all about the customer
For Lindsey Rix, chief operating officer at Aviva, the key to adding value to insurance is to make insurance products relevant and accessible, by using digital and social technologies to increase customer engagement.
ICO writes to 1000 companies trading data as LV calls for single CMC regulator
LV has applauded a decision from the Information Commissioner's Office to write to more than 1000 companies involved in buying and selling data as part of its ongoing crackdown on nuisance calls.
Insurance Debate: Ex-DLG and Flood Re boss Woolgrove says without licences insurance can't be a profession
Former Chartered Insurance Institute president Tom Woolgrove doesn't believe insurance will ever be viewed as a proper profession, primarily because anyone can call themselves an insurer without a proper qualification or licence.
Davies wraps up purchase of Parabis's adjusting businesses
Davies Group has confirmed the acquisition of Parabis Group’s loss adjusting businesses Argent Liability Adjusters and Argent Property Adjusters.
More than £29bn working capital trapped in UK economy, AIG finds
Limited access to working capital finance and inflexible payment terms are having an adverse impact on UK business, research from AIG and Prime Revenue has found.
Icahn seeks shareholder support for AIG breakup
AIG has said it would not "make financial sense" to break up the insurer after renewed pressure from activist investor Carl Icahn.
US government issues worldwide travel alert
The US State Department has issued a worldwide travel alert for all of its citizens for three months citing "increased terrorist threats".
Towergate targets long-term stability with nine point turnaround plan
Towergate's senior team has compiled a nine point turnaround strategy involving a two-year integration project, which group CEO David Ross believes will transition into 'business as usual' in 12 months’ time.
Market moves - 26 November 2015
All the movers and shakers in the insurance industry
Ex-Axa COO Carruthers to become non-exec chair at A-Plan
Former Axa Commercial Lines and Personal Intermediary chief operating officer Max Carruthers is to take on the role of non-executive chairman at independent high street broker A-Plan, Post can reveal.
Aviva commercial to launch multinational offering in 2016
Aviva is to soft launch a commercial multinational offering in the New Year, having worked on its development for the past 18 months.
‘Remarkable Towergate is still standing' says CEO Ross
Towergate CEO David Ross is amazed the business is still operating after the "extraordinary amount of trauma" it experienced in the past 18 months.
Towergate regulatory costs hit £5.4m in Q3 as FCA talks continue
Towergate incurred regulatory costs of £8.8m for the opening nine months of 2015 in relation to the ongoing Financial Conduct Authority investigations.
Insurers feel 'under prepared' for cyber attack
Almost half of the insurers in the London Market feel under prepared for a Talk Talk-style cyber attack according to a survey by business technology provider Xchanging.
Towergate Q3 income drops 10% as infrastructure challenges continue
Towergate has reported a 10.3% decline in income to £87m in the third quarter of 2015 compared to £97m in the same period of 2014.
Fosun to step up integration after Ironshore completion
Chinese conglomerate Fosun is to increase its integration efforts among its insurance assets following the confirmation of its 100% ownership deal with Ironshore.
Claims Club Asia: Cyber risks on the agenda
At the final Claims Club Asia of 2015 in Hong Kong, an audience of claims professionals heard from experts on cyber risks.
Australasia's risk management institute appoints Ventura as president
The Risk Management Institution of Australasia has appointed vice-president Anthony Ventura as its new president.
Insight Australia's brokers to join Steadfast
Insight Australia Group's broker members have decided to join Steadfast's network.
Mass demands blanket ban on cold calls and texts as CMC review closes
The Motor Accident Solicitors Society has called for an extension of the ban on unsolicited texts and cold calls to both sides of the claimant/defendant divide.
Cila council approves updated diversity policy
The Chartered Institute of Loss Adjusters council has formally approved the organisation's amended diversity and inclusion policy which includes training, development and progression opportunities for members.
Data, Analytics & Technology Awards 2015: The Winners
Industry technology experts scaled the heights at the Millbank Tower’s Altitude 360 venue yesterday afternoon (19 November) for Post’s Data, Analytics & Technology Awards for Insurance 2015 where the winners toasted their success in the skies.