Motor
Spotlight: Motor trends - the use of data in claims and underwriting
Post and Verisk undertook a survey of the motor market to understand how both underwriting and claims teams are evolving in their use of data and new technology. Padraig Floyd dissects the results and speaks to the market about the findings
Gallagher enters motorcycle and motorhome space with first acquisition of the year
Gallagher has acquired Devitt Insurance Services marking the group’s entry into the motorcycle and motorhome space.
Abacai’s Day Insure pursued for £500,000 plus by M&A advisory firm
Financial advisory firm Imas is seeking at least £500,000 from Day Insure in a suit that has revealed Aviva, PIB, Pikl, Sabre and Vantage were all in the frame to buy the broker.
Zurich’s David Nichols explains why customer communication is key to tackling the global supply chain challenge
The global supply chain challenge has far-reaching implications for every financial sector. David Nichols, UK chief claims officer at Zurich Insurance, details the importance of keeping customers and suppliers both informed and engaged.
Analysis: Illegal e-scooters hit insurer claims reserves to tune of 'hundreds of thousands'
Insurers are already reserving ‘hundreds of thousands’ of pounds for collisions involving third-party private e-scooters – but the vehicles aren’t legal on public roads yet.
Spotlight: Data transformation - What gets measured, gets improved when it comes to customer experience
Building better and more measurable data represents the surest foundation for innovation and improving the customer journey, according to Scott Field, head of international product at Duck Creek Technologies.
EY: investor confidence in UK FS hits new high; James Hallam backs broker start-up; Lloyd's approves insurtech Syndicate and Pen inks £300m QBE deal
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Tesco offers refunds after 'misleading information' motor insurance renewal breach
Tesco Bank will refund some motor insurance customers following a breach regarding "misleading information" about no claims bonus protection in renewal letters.
Outlook deteriorating for UK non-life company market: Fitch
The market combined ratios for motor and home insurance will be north of 100% in 2022, Fitch has forecast.
Insurance in the vanguard on consumer duty, says FCA’s Matt Brewis
The Financial Conduct Authority sees insurance as ahead of the game on consumer duty after the work on pricing and value in recent years, the regulator’s director of insurance and conduct specialists Matt Brewis has indicated.
Self-driving car users should be off the hook for range of offences, commissions set out
The Law Commission for England and Wales and the Scottish Law Commission have proposed the creation of an Automated Vehicles Act that would shift the responsibility away from drivers of self-driving cars.
General Insurance Fraud Committee hopeful on spam advert legislation
The General Insurance Fraud Committee is hopeful that online advertising will be included in the Online Safety Bill, Clare Lunn, director of financial crime at LV GI and chair of the GIFC told Post.
Biba calls for IPT cut to 10% with 2022 manifesto launch
The British Insurance Brokers’ Association has urged the government to cut Insurance Premium Tax to 10% in the next budget and pushed for targeted relief for three areas.
Allianz: cyber usurps BI as biggest risk; Direct Commercial gets PE investment; Ford and ADT reveal JV Canopy; and Tractable launches AI Property
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Hastings Direct adds Mark Cliff as non-exec chair after Peter Blanc departure
Hastings Direct, the broking entity within the Hastings Group, has appointed former Ageas and Brightside leader Mark Cliff as independent non-executive director – chair designate.
Briefing: 10 insurtech start-ups to watch in 2022
For a seventh year running, Post content director Jonathan Swift scans the insurtech space and identifies a host of up-and-coming businesses potentially worth watching over the next 12 months and beyond.
Aviva to boost regional underwriting headcount by 10%
Aviva has started a recruitment drive to add at least 40 underwriters working on regional mid-market business, chief distribution officer Gareth Hemming told Post.
Allianz in regional commercial restructure; GRS extends global reach with adjuster tie-up; Movo buys three; and Tractable strikes two new deals
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Thingco boss Brockman questions insurers' pricing rules preparations after hitting pause on capital raise
Thingco CEO Mike Brockman has questioned insurers’ preparedness for pricing rules that took effect at the start of the year, after the telematics insurtech hit pause on a capital raise amid uncertainty generated by the regulations.
DfT denies smart motorways debuted prematurely as rollout paused
The decision to pause the introduction of new all lane running smart motorway schemes, which saw 39 deaths between 2015 and 2019, until five years’ worth of data is available has been welcomed by insurers.
First Underwriting targeting 30% growth after £1bn capacity deal
Managing general agent First Underwriting has revealed a five-year £1bn capacity deal with Accredited Insurance (Europe).
Aviva strikes five-year motor deal with Prestige; Aston Lark inks two more deals; Adiona partners with Duck Creek; and Corvus reveals London market buy
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Spotlight: Why ESG and digital transformation are inextricably linked for the insurance industry
From efficiently writing weather perils to reducing their carbon footprints, digital transformation offer insurers a fast track solution to meet their environmental, social and governance objectives, writes Pádraig Floyd
Markerstudy to keep BGLI brands, staff and management after £400m deal
BGL Insurance is a “complementary fit” with Markerstudy’s existing distribution business and provides cross-selling opportunities as the firm grows to close to six million customers, according to group underwriting director Gary Humphreys.