Pricewaterhouse Coopers (PWC)
Financial services survey finds insurance optimism surging
Optimism among insurance providers has soared to its highest level in years, according to the latest CBI/PwC Financial Services Survey, with brokers also increasingly upbeat.
Analysis: What's on the horizon for 2020?
For an industry that strives to understand and manage risk, uncertainty is not something that is relished. But with some market hardening, a final report from the Financial Conduct Authority on pricing practices and the possibility of Brexit all on the…
Flood damage payouts from Yorkshire and the Midlands set to top £100m
Insurance payouts to people affected by recent floods in Yorkshire and the Midlands are expected to reach £110m, the Association of British Insurers has estimated.
This week in Post: Deluge, diversity and misdemeanours
More than 800 houses have been evacuated due to flooding and many of those families won't be back in their home for Christmas. Flood warnings are still in place and there are reports that flood defence equipment is being stolen.
North of England floods could cost industry £80m to £120m: PWC
Flooding in the north of England could cost insurers between £80m and £120m, PWC has estimated, though this could rise.
Q&A: Maurice Rose, manager, insurance risk and regulation, PWC and co-chair Link
As part of the Inclusion at Lloyd's programme six Partner Networks have been set up to help bolster diversity and inclusion in insurance. Post spoke to a representative from each one to get an insight into what they doing, today focusing on Link – LGBT…
Frustration at Dive In ethnicity panel after c-suite execs drop out
Senior insurance executives scheduled to appear at a diversity event pulled out after discovering the session would be on the "sensitive" issue of the industry's Black, Asian and Minority Ethnic pay gap.
Tim Harris to join Direct Line as CFO
Direct Line Group has appointed Tim Harris as chief financial officer.
Watchstone files a £63m counterclaim against S&G
Watchstone has filed a counterclaim for damages of £63m against Slater & Gordon, following permission from the High Court.
NFU Mutual appoints non executive director
NFU Mutual has appointed David Roper as non executive director, effective from 1 September 2019.
Analysis: The future of pricing – Data and technology
Insurers are coming under increasing pressure to develop new ways of pricing. But, while data and technology hold the key, insurers face some significant challenges as they move to this brave new world.
Special report: Industry gender pay gap shows little change
Exclusive: The industry’s gender pay gap numbers remain relatively static, with experts warning that it could be up to a decade before the impact of recent diversity initiatives are reflected in the numbers.
Ethnicity pay gap reporting to pose 'challenges' for insurers if made mandatory
Exclusive: Insurers have welcomed the Association of British Insurers’ backing of ethnicity pay gap reporting, but data collection may pose a challenge for firms if the government mandates it.
Dive In: Marsh UK CEO decries lack of female 'pipeline' for senior roles
Marsh UK CEO Chris Lay has decried the lack of a 'pipeline' of women in line for senior roles, urging for flexible working as a possible solution.
Supply chain focus: Aligning cultures when choosing partners
With an increasing focus on CSR and technology, choosing partners that can align with an insurer's core values has arguably never been more important. Edward Murray looks at the factors supply chain managers now consider important when choosing the…
Robots will control claims future: PWC
Future insurance claims will be settled with little to no human involvement and insurers will have to adapt to the impact of technology if they are to survive, a report from PWC has found.
GDPR: 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.
Big Four audit firms censured for 'lack of scepticism'
The Big Four audit firms have seen a fall in quality in the past year owing to a “failure to challenge management”.
Analysis: How the industry was shamed by the gender pay gap
It was never going to go well. Even a year ahead of the results, industry figures were predicting that the industry would shame itself when the gender pay gap numbers were published.
Why blockchain needs to deliver better, not just different, insurance products
Insurers need be wary of one of the biggest traps in new product development – building it because you can, not because you should, when it comes to blockchain. Neil Edwards, CEO of The Marketing Eye, explains why to succeed this technology needs to…
Blog: The five peril categories to better manage cyber risks
There needs to be a significant shift in how cyber risk is understood and managed to help boards have a more accurate view of potential losses, as well as opportunities. Robert Vescio, chief analytics officer, SSIC, explains how using five peril…
China-backed hackers can cause insurers 'extensive' losses
China-backed hackers have the technical capabilities to cause insurers extensive losses, a consultant warned.
Blog: Did Axa's Brendan McCafferty set a record for the shortest GI CEO stint this century?
The surprising departure of Brendan McCafferty as the CEO for intermediated and direct at Axa Insurance last month got me thinking.
Brexit has led to a drop in overseas business: PWC
Confidence in the market among general UK insurers dropped last year with Brexit set to impact business volumes, according to a survey.