United Kingdom (UK)
Carbon markets: the next ‘billion-dollar’ prospect
Oxbow Partners and Kita have underlined the scale of the opportunity for insurers looking to capitalise on carbon markets, and how the carbon credit insurance market could reach $30bn by 2050.
UK bolsters ‘special relationship’ with Gibraltar
Melissa Collett, CEO of Insurtech UK, shares how Gibraltar’s “speed to market” offerings have won over UK insurtechs as they seek authorisation.
Zywave on how cybercriminals are weaponising AI
Jim Blinn, vice president of client solutions at Zywave, explains what artificial intelligence unknowns lay ahead in 2024 and what businesses can do to protect themselves against incoming cyber attacks.
Top five risks that will affect claims in 2024
The use of artificial intelligence, a changing geopolitical landscape and climate change were revealed to be among the top priority concerns that UK insurers will increasingly have to tackle.
How new working rules will transform the insurance industry
Frances Stebbing explores what new rules being introduced for flexible working in mid-2024 mean for the way the insurance industry operates.
Insurers’ data swamps need dredging to win the data arms race
Insurers need to sort out their data swamps by creating data lake houses or risk being left behind in the “data arms race”, experts have warned.
Why 2024 could be the year of insurtech consolidation
Data analysis: Francess Stebbing examines whether insurtech start-ups will struggle to find funding in 2024 and be forced to partner-up with traditional providers to achieve scale.
Close Brothers partners with Hedron; Howden buys Laurie Ross; Admiral rebrands Toolbox
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FCA warns insurers to prepare for the ‘techlash’
Nikhil Rathi, CEO of the Financial Conduct Authority, has urged insurers to keep a human hand in the loop, as a “hyper-digitised” future is not for everyone.
Biba’s school initiative ‘trailblazer’ for supporting under-privileged students
Participating schools have praised the British Insurance Brokers’ Association programme for “shaping the future of education and careers” for young people.
Amazon to close down Insurance Store
Just 15 months after its October 2022 launch, Insurance Post can reveal that Amazon is closing down its UK Insurance Store.
FCA to probe insurers on non-financial misconduct
The Financial Conduct Authority has revealed it is “strengthening its expectations” on how regulated firms consider non-financial misconduct, and will commence a survey to assess the number of cases in financial services.
Insurance must prepare for a rise in deepfake AI fraud
Scott Clayton, Zurich’s head of fraud, shares how rapidly developing technology and digital manipulation threatens to put additional pressure on claims handlers, as deception becomes harder to spot.
Auxillis owner ‘in talks to buy Kindertons’
According to multiple industry sources, conversations are being held for the potential sale of accident management and mobility company Kindertons to Redde Northgate, the parent company of Auxillis.
Climate campaigners claim victory after insurers rule out EACOP
Reinsurance companies Sirius Point, Riverstone International, Enstar Group, and specialty insurers Blenheim and SA Meacock, have all officially ruled out involvement in the East African Crude Oil Pipeline.
Hyperexponential’s CEO highlights next steps after $73m funding round
The insurtech’s CEO and co-founder shares how a “self-sustaining strong foundation” is essential to pique venture capitalists’ interest, and how the funds will fuel its international expansion.
Hiscox CEO highlights what’s next after Google collaboration
Hiscox’s London Market CEO shares why responsible tech development was paramount, and when the firm will roll out its AI underwriting model across the wider industry.
Recruitment challenges leaves a ‘ticking time bomb’ for the industry
Davies has shared concerns that the apprenticeship levy is not being fully used, which is leaving the industry short of fresh talent.
Q&A: Diana Markaki-Bartholdi, The Boardroom
Following the opening of its first UK branch, The Boardroom’s founder, Diana Markaki-Bartholdi speaks to Frances Stebbing about her mission to bridge the gender gap and help more women executives become board members.
Biba teams up with two schools to attract talent
The British Insurance Brokers’ Association has launched a programme to boost diversity and raise awareness of the variety of careers in insurance.
Climate activists threaten to step-up action against insurers
Climate activists have kicked off the new year by warning the insurance sector “your time is up”, and have revealed plans to protest for a “fair and just transition” to secure a liveable planet for all.
Vandals continue to target heritage buildings
Nine out of 10 heritage organisations have experienced crime within the space of 12 months, according to research commissioned by Ecclesiastical.
RSA on why DEI is driven by hard data
Gemma Jackson RSA’s head of DEI shares how the insurer is taking a data driven approach to improve inclusion and build a competitive advantage in the industry.
Insurtech Review of the Year 2023
2023 will be remembered as the year the insurtech funding bubble burst but looking ahead to 2024 players in this part of the market expect providers to realise it is easier to buy systems than build them.