News
Zurich prioritises internal AI development over partnerships
Zurich is focusing on in-house expertise rather than external partnerships for artificial intelligence development, according to data science lead Jonathan Davies.
Insurance market has rushed automation – survey
Many technology professionals at insurers and MGAs believe the market has rushed into automation, according to a survey by RDT Tech.
ABI’s Braun receives OBE in King’s Honours List
Yvonne Braun, director of policy for long-term savings, health and protection at the Association of British Insurers, has been awarded an OBE in His Majesty the King’s Birthday Honours List.
Ageas reveals AI has saved business more than £4m
Ageas has saved more than £4m due to the use of artificial intelligence, with £2m of the savings coming from AI-enhanced fraud models.
Ecclesiastical is cautious about generative AI for complex tasks
Ecclesiastical’s generative artificial intelligence technology is not ready to support high value or complex task replacement, according to group technology director Graeme Howard.
Consumers want Amazon and Tesla embedded insurance products
Four out of 10 consumers would be comfortable with the idea of buying insurance from companies such as Ikea, Amazon, or Tesla when making purchases from those brands, according to Guidewire’s Insurance Consumer Survey 2024.
‘Nascent’ cyber market to hit ‘choppy waters’
Experts speaking at the Financial Times Global Insurance Summit on 13 June have said there are going to lots of ups and downs in the cyber market, with one suggesting “premiums are under-priced”.
Clear’s latest deal; JMG surpasses £300m GWP; Kane named Allianz ambassador
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Axa and Zego reject generative AI for pricing
Axa and Zego have ruled out using generative artificial intelligence for pricing due to compliance concerns.
What Labour’s Manifesto means for insurers
Labour leader Sir Keir Starmer aimed to woo insurers when he outlined his party’s blueprint for government just before lunchtime today (13 June).
Aviva’s Blanc hits back at Labour’s motor insurance plans
Aviva’s group CEO Amanda Blanc has hit back at Labour’s proposed plans to address motor insurance premiums in the UK, stating that “you don’t need a sledgehammer to crack a nut”.
Allianz on top again in latest Brokerbility satisfaction survey
After topping the survey in 2022, Allianz has once again come out on top of Brokerbility’s latest satisfaction survey of key insurer partners.
Chicken shop owner has wings clipped for fowl play in fraudulent fire claim
A chicken shop owner and his brother have been handed prison sentences following investigations by Allianz and Sedgwick into a fire in 2018.
Three key takeaways from ITC DIA Europe 2024
Artificial intelligence can be used to close the digital gap in insurance; meanwhile, some feel that generative AI is just a temporary hot topic, according to experts gathered at ITC DIA Europe, which took place in Amsterdam this week.
AllClear to grow international presence following sale
Chris Rolland, group CEO of AllClear and InsureandGo, has revealed the travel broker’s plans to expand the international business following the sale of owner InsurEvo.
Labour outlines plan to make car insurance prices plummet
Labour has pledged to hand cash to councils to repair up to a million potholes a year in England and announced it will make the regulator crack down on the causes of soaring motor insurance prices.
What insurers should know about the Conservative Manifesto
The Conservative Party followed hot on the heels of the Liberal Democrats and launched a Manifesto today (11 June) with the slogan “Clear plan, bold action, secure future.”
Paddy Power pulls mention of Aviva from ‘fantasy’ Euro 2024 story
Paddy Power has amended a "news" story that claimed footballer Luke Shaw was cut from the Euro 2024 squad after being refused travel insurance by Aviva.
Sedgwick reveals how carbon neutrality was achieved in the UK
Insurers have approached Sedgwick for guidance on lowering their carbon footprints, after the loss adjusters achieved carbon neutrality in the UK.
Brokers looking to non-standard for opportunity
A survey conducted by Prestige Underwriting has found brokers are looking at the non-standard insurance sector for growth opportunities.
Key takeaways from the Liberal Democrat Manifesto for insurers
Ed Davey, leader of the Liberal Democrats, was the first to fly out of the traps today (10 June) with his Manifesto packed with promises of what will be delivered by his party if he becomes prime minister.
Cover for damage caused by social unrest faces uncertain future
Cover that UK businesses currently take for granted is increasingly being hived off into the political violence insurance market, a report published by Airmic has highlighted.
Vehicle damage claims drop following Welsh speed limit law
Wales has seen a 20% drop in vehicle damage claims since the implementation of a nationwide 20mph speed limit, according to Esure.
Direct Line’s ex-CEO James speaks out about facing flack
Direct Line’s former CEO Penny James has challenged the ‘flack’ the press directs at female industry leaders.