Motor - personal
Atlanta to spread Marmalade specialism into van and bike
Buying motor specialist Marmalade addresses Atlanta Group’s weakness in telemetric offerings and provides opportunities for growth across the business, CEO Ian Donaldson told Post.
Motor insurance: Falling claims volumes reignite pricing debate
Claims volumes fell significantly in 2020 as premiums crept down slightly, insurer figures show, leading to intensified campaigner calls for current and future savings to be passed on to motorists.
Digital Bar Quarterly: Chasing pack strive to overtake Aviva in scramble for digital services, with Admiral and More Than leading the way
In the first of a new quarterly column Altus Consulting insurance director Mark Andrews dissects the data from its Digital Bar to highlight the lack of uptake of data enrichment to enable quick quote for direct customers, with many journeys still…
Northern Ireland aims for minus 1.75% discount rate by end of May
The Northern Irish Department of Justice intends to push its minus 1.75% personal injury discount rate change through by the end of May.
Insurers granted extra time for some pricing practices rule changes
The Financial Conduct Authority is set to grant firms until the end of 2021 to implement some of its pricing practices reforms.
For the record: Chubb bids $23bn for rival; Amazon to sell SME insurance; RAC launches pay per mile cover and London team swaps AFL for SRG
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Ex-CHO chair sets sights on improving 'frictional' industry relationships with company launch
Credit hire firm Cogent Hire will aim for “zero litigation” and “near total” removal of fraud, managing director Kirsty McKno told Post as the company launched.
Staveley Head administrators reveal £27.7m in claims
Unsecured creditors have submitted £27.68m in claims against motor broker and managing general agent Staveley Head Limited, far in excess of the £9.98m on the company’s books when Duff & Phelps were appointed as administrators in February 2020.
Sabre top line suffers as motor insurer pushes through 10% price increases in 2020
Sabre CEO Geoff Carter has defended the insurer’s falling profits and premiums, saying that pricing increases pursued throughout 2020 stand it in good stead to take advantage of growth opportunities going forwards.
Brightside’s Brendan McCafferty on digital, scale and success
The Covid-19 crisis has turbo charged the market to make digital changes in months rather than years but there is still more to be done for brokers to stay relevant, says Brendan McCafferty, CEO of Brightside Group.
For the record: Wilson’s insurtech Abacai acquires Dayinsure; 250 job losses at BGL; GRS recruits Advanta team; and Howden acquires STA Group
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
IPO inevitable for 'reluctant unicorn' Zego: CEO Sten Saar
Zego, now valued at $1.1bn (£792m), has become the UK's first insurtech 'unicorn' with an initial public offering "inevitable" but not on the immediate horizon, the insurtech's CEO and co-founder Sten Saar told Post.
Esure CEO says PCWs remain key to ambition to be UK's pre-eminent digital insurer
Price comparison websites remain integral to Esure’s plans to be the UK’s “pre-eminent digital insurer” despite fears their market share could shrink after regulatory intervention, CEO David McMillan told Post.
Lockdown reins in 'Beast from the East Two' claims hit
At the beginning of February, national headlines warned of a ‘Beast from the East Two’ as snowy blizzards, heavy rain and gale-force winds were forecast to batter large parts of the country. But a repeat of the hefty claims dent left by its 2018 namesake…
Brightside buy first in a pipeline of deals, says Markerstudy's Humphreys
There will be no job losses from Markerstudy buying Brightside with the brand and Bristol office being kept, Gary Humphreys, group underwriting director at Markerstudy, told Post.
Covid curbs drive Admiral to record profits
Admiral has posted record pre-tax profits of £638m for 2020, reaping the benefit of fewer claims as a result of quieter roads during lockdown.
MIB bombarded with whiplash questions by confused and frustrated claims sector
The Motor Insurers' Bureau's first update on the whiplash portal since critical rules were released by the government was met with difficult questions and consternation from the claims sector.
Consumers put IPT almost bottom of the list for Budget tax rise targets
Exclusive research by Consumer Intelligence for Post has revealed that the UK public would support increases in almost any other tax ahead of insurance premium tax if the Chancellor opts to bring in rises to help pay for the costs of battling the Covid…
£77m Covid impact drives RSA UK loss
Scott Egan, RSA’s UK and international CEO, has said the division delivered a “strong” performance in 2020, despite the impact of Covid-19 bringing a halt to its return to profitability in the UK.
Briefing: Ex-Aviva CEO Mark Wilson's insurtech electric dreams
Mark Wilson might have not quite managed to turn Aviva into the 320 year old disruptor he had hoped, but Post content director Jonathan Swift reasons he might have more luck scratching that digital itch with his latest venture Abacai, even in a soft…
Fully Comp: Episode 13 - For all the hype, is there tangible evidence UBI, telematics and on-demand motor have seen lift off during the pandemic?
For the thirteenth episode of Post’s video series Fully Comp we gathered a group of experts together to consider if the Covid-19 pandemic has had any impact on the consumption of non-traditional annual motor insurance products.
FCA mulls timeline for dual pricing fix following consultation
The Financial Conduct Authority is reconsidering the implementation period for its dual pricing remedy proposals following consultation with the industry.
UK government plans to swerve EU Vnuk law
The British government is planning to avoid the European Union’s controversial Vnuk law, which requires compulsory insurance for vehicles including golf buggies and mobility scooters even on private land.
For the Record: BGL rolls out digital claims, Chubb backs Covid-19 cover, Covea in Vitality tie-up, insurtech funding hits £5.2bn and Tractable deals
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.