Technology
Cyber insurance: Developing knowledge
With the number of cyber crimes increasing, knowledge of attacks is developing enough for cover to be rolled out. What are the options for insurers?
Blog: Digital is changing insurance
Digital innovation is changing the way the insurance industry operates, with providers beginning to embrace developments where technology can make life easier for the consumer.
Insurance Post: May 2016
The news this week, in case you missed it. And introducing our monthly edition.
Xchanging CFO resigns after CSC acquisition
Xchanging chief financial officer David Bauernfeind has resigned from his role following the company’s acquisition by CSC.
Editor's comment: Time for change
Former Prime Minister Harold Wilson warned: “He who rejects change is the architect of decay.” And 2016 will go down in the annals of insurance history as a year of change.
CSC completes deal with Xchanging
US-headquartered CSC announced it has completed its acquisition of Xchanging.
A fifth of European consumers would buy insurance or banking products from Google, Amazon or Facebook reveals a study
Customers could increasingly turn to big-name disruptive firms in the financial services sector, according to a survey of the European market by Fujitsu.
Debate on driverless car challenges increases ahead of consultation
The government’s planned consultation on driverless car regulation in coming months should help “coalesce minds”, according to the ABI, while manufacturer Volvo continues to push for a coherent system ahead of its Drive Me London trials next year.
Watchstone Group faces £11m claims from ex-Quindell investors
The company, formerly known as Quindell, could face claims worth over £11m from 440 disgruntled shareholders.
In Depth: Social media investigations the first line of defence in fighting fraud
Information gleaned from open public sources is admissible in court.
ABI warns drivers to stay focused as automatic car technology advances
Motorists shouldn't become complacent on the roads as autonomous vehicles are rolled out, particularly when the technology is new, according to the Association of British Insurers.
In Depth: Insurer messages get ‘lost’ as brokers lament lack of face-to-face contact
Gaps in insurer regional offices and head count reduction are affecting services, claim brokers.
Trade Voice: The ABI's James Dalton on the public perception of insurance
Perception does not always reflect reality. If it did, then public perceptions of the insurance industry - and our reputation - would be better than they are.
Blog: Not anyone can practise as a loss adjuster
Chris Hall, managing director at Questgates, reacts to Chris Sandilands' proposition of an Uber-style service for claims. In his view, freelancers cannot provide the level of expertise and consistency needed for loss adjusting.
Charles Taylor to target insurtech with specialist arm
Professional services firm Charles Taylor will target the insurance technology market with a dedicated business, Charles Taylor Insure Tech.
Volvo CEO calls for more government help as it outlines autonomous driving trial in London
The Association of British Insurers’ has hailed Volvo’s autonomous driving trial in London next year as “really exciting” and potentially “transformational,” while the motor manufacturer itself has called for more government help to speed up adoption.
Blog: Uber for claims – How the 'gig economy' could disrupt the loss adjusting sector
Chris Sandilands argues that the loss adjusting process is perfectly suited to being disrupted by the 'gig economy', leading to benefits for insurers and policyholders alike. Perhaps most surprisingly, using freelancers for claims surveys could lead to…
Insurtech firm Trov raises £17.5m as it gears up to launch in the UK and Australia
Technology giant Guidewire and Australian insurer Suncorp are among the parties involved in the latest fund-raising from US insurance disruptor Trov, as it gears up to launch its on-demand cover for single items in the UK with Axa.
Insurtech investment rises threefold to £1.57bn
Investments in insurance technology businesses more than tripled last year, according to research by Accenture.
Blog: Recall insurance must address car hacking
Vehicles are increasingly connected and far more software-reliant than they used to be. Unfortunately, most insurers offering product recall solutions are unprepared for this new reality.
Virtual reality offering on trial for telematics-backed claims
Telematics firm Scope Technologies will offer a 4D recreation of accidents using telematics data, a move it says would cut claims times.
Digital start-ups: Ready to launch
With a new start-up being founded every minute in the UK, the insurance industry has to meet the needs of this new breed of client.
Fraudsters steer away from motor as casualty fraud almost triples in five years
Organised casualty fraud claims saw a significant spike from 2010 to 2014 as the government tightened up on whiplash and motor fraud, according to a new report.
Watchstone rejects buyout bid as 'unworkable'
Watchstone Group has rejected a bid it deems “unworkable” but has not ruled out any future offers from the company.