News
Unstructured data is ‘fundamental weakness’ of insurance industry
Guidewire CEO Mike Rosenbaum told a packed crowd that generative artificial intelligence can provide the edge to insurers in terms of data clarity.
Ex-BGL CEO Thompson joins Open GI as chair
Former BGL Insurance CEO Peter Thompson has joined Open GI as the organisation’s chair.
Tinnitus claim dismissed due to dishonest medical expert
DWF and Markerstudy have successfully fought off a claim for tinnitus and psychological injuries following dishonest evidence given by the claimant’s ENT expert.
PRA finally throws Solvency II on Brexit bonfire
Four years after the Conservative Party promised a Brexit dividend for insurers, the Prudential Regulation Authority has published the set of rules that will replace the European Union’s Solvency II requirements.
Reeves announces consultation on UK captives regime
Rachel Reeves has announced a consultation on a new approach to regulating UK captive insurers in her first Mansion House speech as Chancellor of the Exchequer.
Howden buys Storfield; Hiscox’s drone partnership; SiriusPoint's CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Direct Line CIO Jokhoo to leave at the end of the year
Direct Line Group’s chief information officer, Ash Jokhoo, is to leave the insurer at the end of the year, Insurance Post can reveal.
Repair costs high as aviation sector grapples with ‘transformational stage’
The aviation sector is at a “transformational change” with new materials changing the profile of claims and pushing up costs, McLarens Aviation managing director Trehane Oliver has told Post.
Curtain falls on fake photo fraudster
Clyde & Co and Direct Line have successfully fought off a motor insurance claim that used fraudulent photographic evidence.
LexisNexis develops check to address ‘squeeze on consumer finances’
LexisNexis has started to offer insurance providers predictive credit reporting and affordability solutions, in the aftermath of the industry’s premium finance issues.
Zurich to offer free neurodivergent assessments from 2025
From 2025, Zurich will be offering all employees the opportunity to be assessed for neurodiversity, after research found half of neurodivergent adults have been discriminated against by a hiring manager or recruiter.
UN forum finds ‘major gap’ in industry underwriting transition plans
The United Nations Forum for Insurance Transition to Net Zero has identified a “major gap” in the transition plans for insurance underwriting portfolios.
Value concerns moving personal injury claims out of OIC portal
More claims are moving from the Official Injury Claim portal to the Ministry of Justice portal due to valuation concerns, according to Verisk Claims.
Ifed conducts operation to disrupt luxury watch fraud
The City of London Police’s Insurance Fraud Enforcement Department conducted a two-day operation at Heathrow Airport this week to disrupt the practice of high-value watch fraud.
Sign up for webinar on driving retention, growth and improved customer journeys
Insurers continue to face the challenge of distinguishing and differentiating themselves on anything other than being among the cheapest providers.
CII’s CEO channels Truss during clash with PFS members
The Chartered Insurance Institute's CEO Matthew Hill used the words of the shortest-serving prime minister in British history when he came under fire from Personal Finance Society members at the latter’s annual general meeting on Armistice Day.
2024 European Insurance Technology Awards winners revealed
Today, Insurance Post is delighted to announce the winners of 2024 European Insurance Technology Awards.
Probitas opens five lines of business following Aviva sale
Probitas will begin quoting for five new classes of business marking the first development since it was acquired by Aviva earlier this year.
Strongman forced to drop attempt to snatch insurance payout
Markerstudy and HF have out-benched a blatantly dishonest claim by ‘Yorkshire’s Strongest Man 2023’ following his involvement in a road traffic accident.
Allianz to launch refreshed SME proposition in 2025
Allianz Commercial plans to launch a refreshed SME proposition in 2025, following investment to broaden and modularise its product suite, UK managing director Nadia Côté has told Post.
FCA bans and fines broker £1.1m for misusing funds
The Financial Conduct Authority has banned Leigh Mackey from working in financial services and fined him £1.1m for misleading the FCA and misusing funds due to insurers.
One in five pothole-damaged cars must be written off
Following a £500m pledge by the government to address the pothole issue in the UK, research from Allianz has revealed that one in five claims where a vehicle has hit a pothole leads to the vehicle being written off.
Jensten names group CEO as Hardie steps down
Alistair Hardie is stepping own as group CEO of Jensten, as he looks to pursue a number of non-executive opportunities elsewhere.
One in three young drivers scammed by ghost brokers
An Aviva survey of 2000 drivers aged 17-25 found nearly one in three young motorists have purchased car insurance from a ghost broker on social media.