Motor
FCA delays publication of dual pricing market study report until October
The publication of the hotly-anticipated interim report on the Financial Conduct Authority’s market study of general insurance pricing practices that was expected this summer has been delayed until October.
Interview: Huw Evans, ABI director general
The industry faces heavy scrutiny from regulators and the government over pricing practices and personal injury reform, all while reeling from the prospect of a looming Brexit. Huw Evans, Association of British Insurers director general, spoke to Jen…
Special Report: The future of personal lines insurance: Expert view
The insurance industry needs to understand the demands of its future customers if it is to satisfy their expectations. EXL’s head of UK and Europe and SVP Insurance, Nigel Edwards explains how smarter insurers will adopt personalisation and a…
Ex-Complete Cover CEOs Allen and Beckett reunite for Markerstudy-backed MGA
The former CEO of Complete Cover Tony Allen has returned to the motor insurance market with a new Markerstudy-backed specialist managing general agent.
This week: Go Compare's car crash advert
Go Compare was criticised this week for an arguably tone-deaf advert in which its singing mascot was involved in a serious car accident.
Allianz increases fraud savings by 30%
Allianz has uncovered more than £29.6m worth of fraud in the first half of 2019, an increase of £6.9m compared to the same period last year.
McCafferty welcomes ‘considerable improvement’ at Brightside despite £10.3m loss
Brightside made a loss before tax of £10.3m for the year ended December 2018, but CEO Brendan McCafferty expressed confidence the business was improving.
Tesla Insurance launches for owners
Electric car maker Tesla has launched its own insurance offering for drivers of its vehicles in California, with plans to expand to more US states in future.
Rideshare insurtech Inshur reaches $9.6m total investment
Rideshare insurtech Inshur has raised an additional $1.5m (£1.2m) from Viola Fintech for its Series A funding round, taking total investment in the startup to date to $9.6m.
Insurers face rising application fraud
The industry saw 1300 insurance scams every day last year at an average cost of £12,000 each, according to numbers released by the Association of British Insurers.
Deal struck to exempt Irish drivers in the UK from green cards after no-deal Brexit
Irish vehicles will not require green cards to drive in the UK in the event of a no-deal Brexit, following a deal struck between the Motor Insurance Bureau of Ireland the British Department for Transport.
Telematics Watch: Improving customer engagement and building trust
As a service-led insurance proposition based on individual driving behaviour, Igo4 CEO Matt Munro explains how telematics presents a wealth of opportunities to add value and tailor propositions to create long-lasting customer relationships built on trust.
Blog: Breaking the under-reporting habit
In order to solve a problem, we need to accept that it’s there. This principle is common sense – and it certainly applies to insurers’ fight against financial crime, says Dennis Toomey, global head of insurance fraud at BAE Systems.
This week: Think! tech drive
With 50 years of drink driving campaigns drunk driving is shunned by society, but with technology taking over our lives it might be time for a distracted driving campaign to make using hands-free mobile devices on the move as frowned upon.
Barton steps down as CEO of Wrisk
Niall Barton has stepped down as CEO of insurtech start-up Wrisk to become executive chairman.
Insurers throw support behind calls to ban use of hands free devices while driving
Insurers have welcomed a Parliamentary report calling for tougher restrictions on using hands free mobile devices while driving.
Industry body calls on government to protect vulnerable road users
The Association of Consumer Support Organisations has called on the government to match the Financial Conduct Authority in its approach to all types of vulnerable road user.
Blog: The Whaley Bridge experience - how well do insurers cope at times of crisis?
The Whaley Bridge incident has once again thrown the spotlight on insurers, their disaster plans and capacity issues. Alex Dalyac, founder and CEO, Tractable comments that while feet on the ground will never be totally replaced, the industry could be…
Aviva UK profit dips as result of restructuring but excludes £45m Ogden hit
Aviva’s UK general insurance business delivered an operating profit of £172m for the first half of 2019, though the result excludes the £45m expense of strengthening reserves following last month’s discount rate decision.
Hastings share price dives after profit slashed to £38.2m following Ogden hit
Hastings share price fell over 8% within the first two hours of trading this morning after it reported a profit after tax of £38.2m (30 June 2018: £72.9m) for the first six months of 2019.
Ageas UK CEO slams government over discount rate review
Ageas UK CEO Andy Watson has criticised the government’s handling of the recent discount rate review, saying decisions made by some insurers to release reserves in anticipation of a higher rate were “a reasonable thing to do.”
Ageas sees payout for refusing to gamble on Ogden
Ageas UK saw a £27.6m bounce as a result of the discount rate change, offsetting large motor losses for the half.
ERS reports a decrease in COR following discount rate change
Specialist motor insurer ERS has reported a profit of £3.1m, a decrease on £5.6m for the same period last year.
Trade voice: Paul Nicholls, Mass chair
With the motor claims landscape set to change following the Civil Liability Act, Motor Accident Solicitors Society chair Paul Nicholls airs his concerns over anticipated delays in the progress of the Litigants in Person portal and how a premature launch…