PricewaterhouseCoopers (PwC)
Blog: Barriers to disruption and how to hurdle them
Legacy systems and industry culture are preventing incumbents insurers from innovating, writes Jane Disney, financial services industry value engineer at SAP, urging the sector to rethink itself as support services.
PWC highlights minority background pay gap
People from black, asian and minority ethnic backgrounds earn 12.8% less than others at PWC, the firm revealed.
Ogden decision may not curb reinsurance rate rises, says LV's Treloar
The government’s Ogden decision may not curb expected reinsurance pricing rises, LV general insurance managing director Steve Treloar has said.
Live blog: Ogden discount rate reform
Follow reactions to the draft reform to the Ogden discount rate reform in our live blog.
Claims Conference Sydney 2017: four key themes
The inaugural Claims Conference Sydney took place on 29 August. Chairman Andrew Tjaardstra summarises four key themes from the event.
Elite took regulator to court in lead up to closure
Elite took Gibraltar’s insurance watchdog to court in the lead up to its closure, it has emerged.
Insurer optimism remains flat despite increased hiring and investment
Business volumes, profits and hiring in the general insurance sector remained strong in Q2 2017 despite optimism remaining flat, a survey has revealed.
Analysis: London’s global reinsurance market share falling as rivals take a bigger slice
London Matters Report highlights key areas of concern
Insurers must focus on cyber risk accumulation exposure: PRA
Insurers must get a grip on their cyber risk management to fully understand their cyber exposure, the industry watchdog has said.
Insurers fear revenue is at risk to disruptors entering the market
Insurers are worried that their revenue is at risk from insurtech, with over one in eight insurers fearing that they could lose revenue to disruptors entering the market.
In Depth: The GDPR time bomb
The implementation date of the General Data Protection Regulation is less than a year off but the industry’s attention is elsewhere, with issues like Brexit, the General Election and the discount rate looming large on the horizon
PWC brings in reg tech start-up to help clients with GDPR compliance
PWC has added a "reg-tech" start-up to its Reference Architecture list of companies that can help clients with General Data Protection Regulation compliance.
Reporting standards are 'biggest shake up' of insurance for decades
The International Accounting Standards Board today released IFRS 17, a “fundamental overhaul” of insurance accounting.
Updated: Markerstudy flagged as credit risk on Biba Litmus Test
Markerstudy has been flagged up as a credit risk on a ‘litmus test’ of unrated insurers by the British Insurance Brokers’ Association.
Independent's joint scheme administrators announce first and final dividend
After delays last month, the joint scheme administrators of Independent Insurance Company Mark Batten and Dan Schwarzmann have announced a first and final dividend.
Blog: Whiplash, discount rate, Vnuk and driverless cars on the road ahead
The Association of British Insurers’ announcement that motor insurance premiums hit their highest recorded levels at the end of last year is another reminder that change is long overdue in the personal motor market. That’s coming but will it be enough?
Solvency II: still dividing opinion in the insurance industry a year on
In light of Brexit, what will regulation look like in the future?
In Depth: Ogden outrage – dismantling the discount rate
The decision to cut the Ogden discount rate for the first time in 16 years sent shock waves through the industry that will be felt for months and years to come.
Former Independent staff hit with further delays to redundancy payouts
Former employees of Independent Insurance have been hit with delays to redundancy payouts that were expected to be announced on Friday.
Blog: Engaging tomorrow's customers today
Insurance has traditionally been considered a grudge purchase, driven by the legal requirements for cover and a desire for financial protection. Indeed, 41% of respondents in a Consumer Intelligence poll said they thought of insurance as "a necessary…
Eight out of 10 financial services firms to increase cyber security spending
Eight out of 10 financial services firms expect to invest in preventative technology and IT systems over the next year.
Over one third of insurance jobs at risk from robots
Artificial intelligence could place more than a third of jobs in the UK financial and insurance sectors at high risk, according to a report from PWC.
Ogden change could raise reinsurance rates by 400%
Higher layer reinsurance rates could increase by up to 400% as a result of the change to the Ogden discount rate, experts say.
UK businesses to increase cyber security spend
Three out of five UK businesses will increase their cyber security budget in the next year, with more than 20% of those doubling their spending.