Telematics and the use of Big Data has been commonplace in the young drivers’ segment of the motor insurance market. Now the same approach to data collection and analysis is being introduced to pet insurance
Customer profiling is key to accurately assessing insurance risk, capturing fraud and improving the pet owner’s insurance experience
Managing general agents need to differentiate themselves to boost their income, advises Ed Halsey, sales & marketing director at Schemeserve.
Towergate has been through some tough times but its advisory CEO Joe Thelwell believes this has shaped the firm for the better.
Brokers can use technology to make marginal gains that will add up in the long term, making their business a success, writes Ed Pugh, sales & marketing director at Red Crake.
Allianz Worldwide Care has implemented an Artificial Intelligence-driven symptom checker service into its My Health app to provide customers with a paperless claims process and medical advice.
Cyber has dropped from the biggest concern among insurance bosses to seventh, according to the latest CEO Outlook from consultancy KPMG.
With 52% of insurers using My Licence, the Motor Insurers' Bureau hit its adoption target for the platform in Q2.
Data analytics provider, Verisk Analytics has decided it will acquire UK software provider, Sequel, from Hg Capital and other shareholders for £250 million.
Hiscox has partnered with insurtech start-up Digital Fineprint in order to gauge how social media data can be used to educate business on the risks they face and the insurance solutions that are available to them.
Kevin Snowdon, director risk and analytics - Asia, for international broker consultancy Willis Towers Watson is leaving the firm to join rival JLT Asia.
Following a £2.4m investment provided by Parkwalk, Artificial Intelligence start-up Cytora has successfully partnered with three insurers, providing their services in the commercial space.
There is a lot of noise around the potential for data analytics to give insurers an advantage in everything from pricing to fraud detection.
The insurance industry needs to share information about known fraud to prevent multiple teams from duplicating the same work, according to Julia Walker-Smith, associate director of fraud at BGL Group.
UK businesses underestimate how long the effect of a cyber attack will last, with 50% expecting to be fully operational after just 48 hours following an attack.
Insurers could create a panel of customer advocates to rebuild trust, recommends Carl Shuker, CEO of A-Plan Insurance.
The Insurance Fraud Task Force has recommended that aggregators utilise software to weed out application fraud.
The insurance industry has critcised the government statement of intent on the new data protection bill saying it fails to address concerns on processing sensitive data without obtaining explicit consent.
Businesses that fail to protect their services from cyber attacks could face fines of up to £17 million, the Department for Digital, Culture, Media and Sport has warned.
Insurers are aware of the hurdles associated with replacing legacy systems. But there are ways to make it a smooth and beneficial transition, as listed by Grzegorz Podlesny, senior manager at Sollers Consulting.
Blockchain is gaining popularity among insurers, who will need to figure out how to integrate it with legacy systems, says Michael Clifton, senior vice-president, global insurance strategy and ventures at Cognizant.
Melbourne-headquartered broker Honan Insurance has created a technology division to enhance its client capabilities.
Digital technologies offer insurers the opportunity to reconnect with their clients and earn back their trust, writes Robin Wolstenholme, senior marketing specialist at Liferay.
The disruptive rise of price comparison websites is well-documented. This has prolonged the lifespan of an outdated business model where insurers and brokers compete on price, and price alone, argues Richard Beaven, distribution director for Swinton…