Post forward features list

Insurance Post writers are working on the features listed below.


You may contact the journalists directly to offer interviews and comments.

Please make sure they have all relevant material several days before the deadline.



Topic: Motor Insurance
Author: Jonathan Swift
Contact: [email protected] or 07967 169 697
Deadline: 12th May 

In a new series of monthly articles – ‘Future Focus 30’ - Post will be taking a helicopter view of a market segment in 2030 but written in the ‘present tense’ as if it was being written for Postonline at the beginning of the next decade.

Spokespeople taking part will be expected to answer questions based on a hypothesis described below.

We would understand if respondents would prefer to prepare answers, as we are asking for some level of crystal ball gazing and theorising.

Quotes could simply come from a spokesperson, or you could attribute them to an up-and-coming star within the business who we would quote as – for example - ACME insurance’s John Smith or Emma Jones – not attributing a job title.

Hypothesis One: Motor Insurance

It is the year 2030.

As the demands for green economy has intensified, the Government has brought forward the ban on selling new petrol, diesel or hybrid cars in the UK from 2035 to this year (2030). Concerns still exist over electric charge points, which although now standardised to two types, are seen by some as lagging behind vehicle manufacture.

Around 40% of the UK carpool is now classed as level three automation having ‘conditional automation’. A further 50% has levels four and five and are thus classed as ‘highly automated’ and ‘fully automated’ respectively. Interconnectivity between vehicles and other electronics owned by consumers is growing due to increased Internet of Things.

Vehicle ownership has stabilised, reducing to 40% in large cities and conurbations. E-mobility and mobility-as-a-service solutions have thrived here as people [especially those 25 – 40] started to shun congested public transport in the wake of the Covid-19 pandemic in 2020.

Personal injury claims have significantly reduced as a result, but there is still a fervent market for claimant lawyers due to accidents resulting from accidents linked to the mixed carpool, as well as the rise in e-mobility solutions which are predominantly still controlled by drivers.

There have also been some extreme legal cases where fully autonomous vehicles have had to make an ethical call in terms of who to kill when put in a unusual situation. There have also been a number of accidents resulting from targeted vehicle hacks and public outrage over data leaks originating from cars.

Repair costs are still an issue, not least because the body shop network was decimated by the Covid-19 epidemic and numbers have fallen significantly. However, the market has consolidated and some major players have emerged the likes of which the sector has never seen before, with significant buying power and technological solutions. Around 60% of repairs are now notified by mobiles apps at the First Notice Of Loss using artificial intelligence to diagnose damage.

In terms of insurance products themselves, the OEMs have still not weighed in as much as might have been predicted by some; but the annual insurance policy is now only bought by 30% of the population as most people prefer usage based products – another legacy of the Covid-19 pandemic. These solutions are largely digital and mobile based.


Questions to participants:

1) How as an insurer are you increasing connectivity between vehicles and other IoT devices either owned by the driver; or other parts of the national infrastructure?

2) What is your view on the growth of mobility-as-a-service solutions in cities/urban conurbations? Which do you think will win out and how are you approaching insuring them?

3) As an insurer you must have been planning for a time when there are both fully automated and partially automated vehicles on the road, how has the reality matched your planning?

4) It is estimated that as we enter 2030 60% of repairs are now notified by mobiles apps at the FNOL using AI to diagnose damage. How are you using this technology?

5) How are you working to ensure the vehicles you insure are protected from cyber hacks?

6) How are you evolving your motor insurance cover to meet the growing UBI demands of drivers; do you expect to continue to offer annual policies as we enter 2030. Do you still offer insurance for petrol or diesel vehicles?

7) What do you predict will be the next big thing in motor insurance from now until 2035?
 

***
 

Topic: Personal injury
Author: Jonathan Swift
Contact: [email protected]
Deadline: 27 May

In a new series of monthly articles Post will be taking a helicopter view of a market segment in 2030 but written in the present tense as if it was being written for Postonline at the beginning of the next decade.

Spokespeople taking part will be expected to answer questions based on a hypothesis described below.

We would understand if respondents would prefer to prepare answers, as we are asking for some level of crystal ball gazing and theorizing.

Quotes could come from simply a spokesperson, or you could attribute them to an up-and-coming star within the business who we would quote as ACME insurance’s John Smith or Emma Jones – not attributing a job title.

Hypothesis Two: Personal Injury

It is the year 2030.

After a number of false starts the Government finally introduced its Whiplash reforms in April 2022 following delays due to the extended impact of Brexit and Covid-19. It was considered in the main a success as the extra time allowed all sides to reach agreements on areas that had been seen as stumbling blocks like the inclusion of alternative dispute resolution. This was in part helped by the co-operation that begun during the pandemic including the personal injury protocol spearheaded by Thompsons Solicitors and the Association of British Insurers. The extra time also meant the portal was fitter for purpose than some sceptics expected.

‘Lay legal advisers' – in the form of so-called 'McKenzie Friends' – did not have as large as unintended consequence as some feared, but did prove a distraction until the Ministry of Justice followed Scotland's lead by introducing a ban on remuneration for them.

Another hangover from Covid-19 was that it sped up the use of remote trials/dispute resolution for personal injury claims, including the use of mediated joint settlement meetings before going to court. Although there remains concerns among some that they do not get the same access to justice remotely as in person, this has waned over the last decade.

Automation has also become prevalent in the settling of low value personal injury claims with over half now settled this way; including an increasing number whereby a claimant receives funds within the hour after a consultation with a doctor in person or remotely.

As mentioned in the first hypothesis [Motor] the increase in vehicle automation has seen a decrease in the number of personal injury claims related to motor. But Claims Management Companies – although reduced in number – have seen a new rich vain in claims farming involving people working from home injuring themselves and bringing claims against their employers. There has also been a rise in claims from accidents involving Mobility-As-A-Service vehicles such as e-Scooters. With the uptick in pedal bike usage post Covid-19, third party insurance is now compulsory for cyclists too.

When a vehicle does have an accident, ENOL means policyholders don’t have to notify their insurer as the vehicles does it for them. In many cases claims are settled through a hub whereby reciprocal agreements between insurers mean swifter payments for the insured. These include using apps to analyse the damage and ascertain liability almost immediately at the site of some accidents after a swift information exchange between the relevant carriers.

The market is due another review of the discount rate in early 2030 with the last review in 2025. After some exploration the Government rejected the possibility of a dual-rate five years ago, which would mean having a lower rate in the short term and a higher rate in the long term to safeguard vulnerable claimants, although the Lord Chancellor said this remained open to further discussion at the next review. The discount rate is presently at 0%.

 

Questions to insurers:

1)    In retrospect how successful do you consider the whiplash reforms were post 2022?

2)    How has your business adapted to the greater use of remote trials/ADR/JSMs for PI claims?

3)    To what extent have you seen the use of automated claims notification eradicate the intervention of CMCs in motor claims; and how successful do you believe [to use old school terminology] electronic knock-for-knock hubs have been in driving down costs/improving the claimant journey? 

4)    What risk management advise have you introduced to help EL clients in the wake of home worker PI claims farming explosion?

5)    What are you seeing in terms of PI claims frequency from people riding cycles or MaaS vehicles? How are you looking to control them?

6)    What are you hoping for with the next review of the discount rate?
 

 

No, you can’t get final sign-off

Dear PR friends,
Following some requests received by Post’s freelancers and in-house journalists, we’d like to clarify a few points regarding quotations.

- We prefer you to trust us and not ask to check the quotations. Interviews are recorded; the points made by the spokesperson will be reported faithfully.
- For features, if you need to get the quotes approved, let us know in advance and get them signed off well within deadline. You’ll be able to see your spokesperson’s quotes, not the whole article.
- In some cases (technical points, figures, dates, unusual spellings), we’re happy for you to check we didn’t make mistakes.
- Only factual mistakes will be amended.
- We have a style guide and we’ll stick to it.

If you find these rules unreasonable, you may opt out of contributing comments. But we hope to continue working with you in a constructive and trusting atmosphere.

The Post team

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