Motor
Carrot teams up with Fiat to launch young drivers product
Telematics provider Carrot Car Insurance product director Ed Rochfort believes the convergence between manufacturers and the provision of insurance “will continue to gather pace” after unveiling a new product alongside Fiat.
Insure the Box sale highlights threat of manufacturers to motor insurers
Motor manufacturers are primed to “take the motor insurance market by storm”, according to market insiders, who have highlighted the sale of Insure the Box as a wakeup call to the threat manufacturers represent to insurers.
Money Supermarket sees revenues jump 10% in 2014
Price comparison website Money Supermarket expects to report a 10% increase in revenues to £248m for the 2014 financial year, with adjusted Ebitda expected to grow by 13% to approximately £95m.
Insurers urged to look beyond underwriting when assessing telematics benefits
Insurers are squandering the benefits of greater data access by failing to recognise benefits beyond underwriting, according to Wunelli director Sandy Dunn.
Blog: Five emerging trends to watch out for this year
This week Post gazed into its crystal ball to discover what 2015 held for the insurance market. Below are five of the most exciting (but also sobering) discoveries about the year ahead.
16% of Britons ‘horrified’ by driverless cars
Almost half of British adults would be unwilling to be a passenger in a driverless car while 16% are “horrified” by the idea, according to research from Uswitch.
Saga launching motor panel to expand customer base
Saga has created a new panel of motor insurers to build out its client base, while also plotting to double takings from its travel business.
Five trends for 2015: Looking to the future
With 2014 receding into the distance, Post took a moment to consider which – if any – of the trends that emerged in 2014 will reach fruition in the next 12 months. Will Back to the Future’s vision of streets awash with hover boards become a reality? Will…
Fraud Focus: The key issues on the horizon
What measures, technology and legal reforms will be changing the landscape of fraud in 2015?
C-Suite - Insurer: Reducing young road deaths
The next government must act to combat the biggest killer of 15 to 25-year-olds in the UK
First phase of government telematics review to report in April
The first phase of the government’s review into the potential of telematics to improve safety for young drivers will be delivered in April, according to the Minister of State for the Department for Transport Baroness Kramer.
CMA draft order obligations criticised for duplicating existing regulation
Industry players are fearful draft Competition and Markets Authority motor insurance obligations conflict with existing conduct regulation amid concerns the watchdog is not giving firms enough time to implement its suggested reforms.
Insurance trade bodies to meet with regulators on CMA draft orders
The British Insurance Brokers' Association and the Association of British Insurers are to meet with the Financial Conduct Authority and the Competition and Markets Authority in the coming weeks to ensure obligations from the CMA private motor…
Average motor policy saw £51 drop in 2014
The average cost of a new comprehensive UK motor insurance policy fell by £51 in 2014 to £594, despite late year price increases, according to the Towers Watson and Confused insurance price index.
China's changing motor market
China is introducing more flexibility to its motor insurance market, creating opportunities for foreign insurers to differentiate on price and product design, writes Nicky Burridge
Notable rate rises unlikely in 2015 despite hardening UK market
The soft UK insurance market has been tipped to harden in 2015, although there is still insufficient “pain” across the industry to spark material rate increases, according to sector commentators.
Guy Carpenter boss predicts further shrinkage in reinsurance buying pool
The reinsurance buying pool is likely to continue its ten year reduction, according to Guy Carpenter EMEA operations CEO Nick Frankland, who has called for perspective in relation to falling renewal rates.
CMA publishes draft order from motor market report
The Competition and Markets Authority is consulting on a draft order explaining how changes resulting from its investigation into the private motor insurance market will be introduced.
Welsh MGA and broker first to go live with My Licence
North Wales-based Staveley Head is the first managing general agent and broker to use the My Licence scheme.
MIB's West and Hughes Insurance founder awarded OBEs
Motor Insurers' Bureau CEO Ashton West has been made an Officer of the Order of the British Empire in the Queen's New Year's Honours List.
Prudential finance director James joins Admiral board
Admiral has appointed Prudential's finance director Penny James as a non-executive director.
A&A reports £4.5m loss for 2013
Personal lines broker A&A Group has posted a pre-tax loss of £4.5m in 2013, compared with a profit of £1.17m for the previous year.
Brockman hopes to be ‘last man standing’ after ITB manufacturer link-up
The partnership with Japanese insurer Aioi Nissay Dowa should prolong the life of Insure The Box as motor insurers become steadily obsolete, according to founder Mike Brockman.
Home and motor premiums continue to fall shows Biba price index
The cost of home and motor insurance has continued to reduce in the last year, figures from the British Insurance Brokers' Association and Acturis Insurance Price Index show.