Insurers will inevitably retain insurance as their core offering. But must act more like venture capitalists and develop innovation cultures to succeed according to Geoff Knott, director, Ninety Consulting
At a time of year when good cheer to all men is encouraged and Scrooge is forgiven all his wicked ways and most of the world has been out enjoying their Christmas parties (I know we have), it appears the insurance world is still seen as the Grinch.
Given consumers less that flattering view of business, Marcus Taylor, director of claims, Minster Law, warns the insurance sector needs to make sure it listens to the public before enforcing the new online claims journey post April 2020.
Insurers have welcomed a deal that will preserve cross border insurance and reinsurance contracts between the UK and US.
Three years ago, the government established an Insurance Fraud Taskforce with much fanfare. However, in the last 18 months, the project has gone quiet. A report from the latter half of 2017 has yet to be published. Post looks at what the holdup is.
GRP’s chief people officer Craig Pocock explains why it’s important for brokers to plan for the new Senior Managers and Certification Regime.
The New Zealand High Court has granted a further application by CBL Corporation administrator Kordamentha to push back a watershed administration meeting to February 2019, though it is expected the corporation will be placed into liquidation.
The Competition and Markets Authority last month provisionally found Compare the Market in breach of the competition law due to clauses included in its contracts with home insurers, which limit the price insurance providers can charge for their products…
“Extraordinary animals, each in a heroic struggle against rivals and against the forces of nature, fighting for their own survival and for the future of their ‘Dynasties’."
The insurance sector must remain vigilant to challengers, be they data giants like Google and Amazon, or nimble insurtechs. Especially given that some already hold such rich data. So how can incumbents take on potential usurpers? Is now the time to take…
No stranger to controversy, Arron Banks is back in the news and under the spotlight with allegations and appeals
As regulations for the combustible cladding ban for new and high-rise buildings progress in government, insurers say that they do not go far enough.
Hooking the headlines this week, Danish unrated insurer Qudos was placed in liquidation by its owner.
Broker Larksway, which is currently in liquidation, has had its Financial Conduct Authority authorisation removed after the regulator alleged it failed to comply with a Financial Ombudsman Service ruling.
Loyal customers have long felt penalised by dual pricing. As the regulator and the government are promising to stop the practice, insurers discussed how to move the focus away from premiums to build stronger loyalty, at a roundtable organised by Post, in…
Victims of economic abuse often struggle to access insurance, writes Alice Merry, financial inclusion consultant for Surviving Economic Abuse, explaining what the industry can do about it.
At long last, the Civil Liability Bill cleared its final parliamentary hurdle this week, opening the way for a much-awaited review of the personal injury discount rate.
The Motor Insurers' Bureau hopes to secure £400m worth of reinsurance cover with an excess layer of £100m, ahead of the demutualisation of terrorism risks for third party motor on the 1 January 2019.
The Civil Liability Bill has been sent for Royal Assent after final amendments were approved by the House of Lords yesterday.
Parliament expects the insurance industry to deliver on pledges to pass on discount rate reform savings and will be monitoring its progress, Lord Keen of Elie told a conference.
Exclusive: Brokers that continue to use unrated capacity, despite the collapse of insurers like Alpha and Gable, could pay higher levies to the Financial Services Compensation Scheme next year.
Exclusive: Insurers that have complicated distribution models are failing to maintain accurate records of policyholders, the CEO of the Financial Services Compensation Scheme has warned.
After more than two years of contingency planning, this week’s news that a proposed Brexit deal was likely to lead to a loss of passporting was met with no more than a shrug of the shoulders.
Insurers are calling for greater clarity over a Brexit deal on financial services that could see a loss of passporting.