Motor
Targeting young drivers pushes more insurers to switch to telematics
Co-operative Insurance is “on track” to have 10 000 customers signed up to its young driver telematics product, as Direct Line announces it too is targeting a pilot at this demographic.
News analysis: Admiral’s claims woes worsen as quarter three results revealed
Admiral’s market followers suffered a painful dose of déjà vu last week when the motor insurer’s quarter three results underscored its rising exposure to large bodily injury claims, and it warned full year pre-tax profits would be lower than expected.
Market moves: Setting the trend
Insurer MMA was the main recruiter this week, with the firm naming five new staff across its regional office network. The moves set the trend among fellow underwriters, with high-profile appointments at Groupama, DAS and for Markel’s fledging operation…
Comment: Understanding the risks
From December 2012, insurance premiums can no longer be based on gender and, as documented in Amy Ellis’ article, a ban on the age proxy looks likely to follow suit. It is not, therefore, inconceivable that a ban on the use of many more insurance proxies…
Claims - Board representation: Staking a claim
Claims representation at insurer board level may remain a relative rarity — but is it a business critical necessity or a luxury?
Data usage: Made to measure
Can insurers rise to the challenge of utilising multiple real-time data sources to maximise sales while minimising exposure?
Motor insurers in recovery but face rocky road ahead
Underwriting performance among UK motor insurers looks set to improve in the year ahead following substantial price increases, however, despite predicted improvements it is not thought levels will reach breakeven
Bennetts offers classified ads to bikers
Biker-only broker Bennetts is offering free classified ads on its website for private motorbike sellers and motorcycle dealers as part of a drive to grow customer loyalty and protect rates for its insurers.
Blaser returns to Allianz
German insurer Allianz has appointed former motor head Roman Blaser as chief underwriting officer of global automotive.
Only Young Drivers reveals 'aggressive' growth strategy
Only Young Drivers has today announced that it will be outsourcing its day-to-day administration to Direct Group in a move which is said to support the firm’s “aggressive growth plans”.
Phone app launched for motor claims
A start-up company of legal, finance, vehicle recovery and insurance workers has created a smartphone app called iAccident to collect claimants’ data at accident sites.
Rugby club insurer RSA working on M5 crash
Bosses at RSA — the insurer responsible for covering Taunton Rugby Club — have said it is too early to comment on a police investigation into claims that smoke from a club firework display may have caused the M5 crash.
Crash-for-cash in commercial motor a 'massive blind spot' for industry
The Insurance Fraud Bureau needs to take the issue of crash-for-cash involving commercial vehicles off the “back burner”, commercial motor insurers have warned.
Groupama to expand share of non-standard motor
Groupama is expanding its book of business in non-standard personal lines motor after admitting competition in the “Mondeo man” market was stiff.
View from the top: A better deal on motor
We have a problem. As an industry, claims inflation in motor insurance is racing ahead of average earnings increases.
Insurer regionalisation: Spreading your wings
A number of industry players have recently bucked the trend of rationalising, to open new regional bases. Is localism a pasing fad or here to stay?
Direct Line launches telematics pilot
Direct Line has teamed up with sister telematics firm Tracker to pilot the use of telematics within retail motor insurance.
Ageas boss 'confident' of an equally impressive Q4
Ageas chief executive Barry Smith is confident the company will continue to buck the trend in combined motor ratio for the fourth quarter after today posting impressive motor COR results of 96.4%.
Fitch: UK motor insurers need to control claims costs
Fitch Ratings said that the trading update released today by Admiral leads it to question the ability of underwriters to control the rising cost of motor claims involving personal injury.
Oxygen to sell off remaining assets - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including how market commentators believe large employee expenses and lack of profits are behind the demise of seven-year old Oxygen Holdings, as it prepares to sell off its…
Insurers told to set their house in order ahead of parliamentary debate
Apil has called on the insurance industry to set its house in order as MPs prepare for another debate on the cost of motor insurance tonight (8 November).
Proposal seeks to lift China's foreign motor insurer ban
China may be set to lift the exclusion on foreign insurers selling compulsory motor insurance in the region.
Car premiums need cross-ministry view
A group of MPs has called on the government to establish a cross-ministry committee to tackle rising motor insurance premiums.
China set for auto insurance market thaw
A possible thaw is set for China's lucrative compulsory auto insurance market for foreign insurers.