News
British Insurance Awards 2024 winners revealed
Aviva was among the big winners with four outright prizes at last night’s (3 July) British Insurance Awards, on an evening where former British Insurance Brokers’ Association CEO Steve White was recognised with The Achievement Award.
Loss adjusters pay tribute to Mike Odell
The insurance industry has paid its respects to “true gentleman” and “advocate for the loss adjusting profession” Mike Odell, who passed away on Saturday (29 June).
Industry figures hail ‘inspiration’ and ‘genius’ BIA Achievement Award winner Steve White
A host of insurance figures have acclaimed the Achievement Award winner at the British Insurance Awards, former British Insurance Brokers’ Association CEO Steve White.
Climate change activists target British Insurance Awards
Extinction Rebellion targeted the Insurance Post British Insurance Awards 2024 tonight (3 July) as part of its latest month of activity.
Skydiving fraudster’s £6.6m claim comes crashing down to earth
Keoghs and Hastings Direct have won the UK’s largest ever fundamental dishonesty case, saving the insurance provider £6.6m.
Munich Re puts HNW MGA into run-off
GrovesJohnWestrup, the high-net-worth arm of Munich Re, has been put into run-off as of Monday (1 July), Insurance Post can reveal.
One-in-10 specialty insurers expect to scale AI use in 2025
Oxbow Partners has predicted that 2024 will be a year of divergence for the use of generative artificial intelligence in the specialty insurance and reinsurance markets.
Best Insurance to expand into general insurance
Six months from launching artificial intelligence-driven underwriting for accident, sickness, and unemployment cover, Kesh Thukaram, co-founder of Best Insurance, shares how he next intends to shake up the pet and gadget markets.
Davies refinances £1.5bn debt facility to buy more businesses
Davies has agreed a £1.5bn refinance of its debt facility, slashing its interest bill, extending debt maturities, and securing extra credit to buy more businesses and develop artificial intelligence solutions.
Crawford’s first female leader Bartlett resigns
Lisa Bartlett, chief operating officer for international at Crawford, and the first female leader of a UK-based loss adjusting company, has resigned.
LexisNexis working on Jaguar Land Rover security solution
LexisNexis Risk Solutions is working on a way for Jaguar Land Rover to get its vehicle security data to insurers to address pricing issues, Insurance Post can reveal.
Defaqto unveils plan to prepare insurers for data revolution
Defaqto CEO John Milliken has revealed plans to shift his organisation’s offering from giving general insurers an overview of where their products sit compared with their competitor’s offerings to equipping them with data to shape their strategy.
Tui ditches Axa for Allianz on travel insurance
Allianz Partners has been appointed travel insurance provider for Tui’s UK business, with the holiday provider ending its partnership with Axa Partners in April.
Sompo opens Manchester office as it continues UK expansion
Sompo has opened an office in Manchester, as it continues its efforts to grow its UK regional portfolio.
Sedgwick’s Crystal says insurers should embrace neurodiversity
Nathalie Crystal, senior public relations manager for Sedgwick in the UK, has urged the industry to ditch traditional hiring methods, in order to bring in more neurodivergent talent.
Insurers should stop looking at AI as a cost-saver
Eddie Longworth, the founder of JEL Consulting who launched the Artificial Intelligence Code of Conduct earlier this year, says the insurance industry hasn’t realised the “conundrum” about using AI and the need for talent to operate it.
Use ‘data explosion’ to make property claims more predictable
Lessons could be learned from the motor sector in terms of making property insurance data more standardized to help with predictability and clarity around claims.
Insurers urged to encourage adjusters to ‘get the knowledge’ over Build Back Better
Insurers have been urged to get Flood Re to revisit the highest sum that can be claimed with its Build Back Better scheme and better educate their loss adjusters on the scheme.
Lloyd’s urged to change approach to Blueprint Two
Lloyd’s of London may need to take a “more progressive route” to achieve Blueprint Two to ensure specific benefits of the transformation are realised.
SRG buys broker; Lockton’s space practice; Markel’s head of casualty
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
NFU Mutual hit by lawsuit over Covid losses
A group of more than 30 businesses are suing NFU Mutual for Covid losses suffered between 2020 and 2022.
Green shoots, but claims managers predict inflation to continue into 2025
Senior claims managers are seeing property claims inflation ease, but expect it to remain high for the foreseeable future; with suppliers turning their backs on insurance work being cited as a factor.
Atlanta Group and Markerstudy merger completed
The Ardonagh Group has confirmed it has completed the merger between its personal lines broking business Atlanta Group and Markerstudy.
Insurers accused of exacerbating property damage
Panellists at the British Damage Management Association conference have accused insurers of slowing down the property claims process, increasing the amount of damage, due to inactivity and lack of trust for their supply chains.